Amid renewed tensions in the Middle East, Indian equities resumed their losing streak in Monday’s trade, June 29, with both benchmark indices ending the session near the day’s lows. While gains in pharmaceutical and metal stocks provided some support, heavy selling in auto and technology shares overshadowed the advances, dragging the Nifty 50 down 0.46% to close at 23,946.
The BSE . The broader markets mirrored the weak trend, with both the Nifty Midcap 100 and Nifty Smallcap 100 indices declining more than 0.3%.
Sectoral performance remained mixed, with the Nifty Auto, Nifty Cement, Nifty Media, Nifty Chemicals, Nifty Oil & Gas, and Nifty IT indices all falling more than 1%. On the positive side, the Nifty Pharma index emerged as the top sectoral gainer, rising 1%, while the Nifty Metal index also posted a strong gain of 0.8%.
Market sentiment weakened after tensions in the Middle East resurfaced. Iran reportedly launched missiles and drones at US military sites in Kuwait and Bahrain early Sunday, shortly after US President Donald Trump warned that the Islamic Republic would cease to exist if it failed to honour an agreement to end the conflict, Reuters reported.
The latest exchange of attacks began on Thursday when Iran targeted a container ship, prompting US strikes the following day. However, Tehran and Washington later agreed to halt recent hostilities in the Gulf and resume talks over their dispute regarding the , a US official said on Sunday.
The renewed exchange of attacks between the U.S. and Iran also revived concerns over global energy supplies, pushing Brent crude futures back above $72 a barrel on Monday after they had recently fallen to four-month lows.
IT, auto stocks drag markets; Persistent Systems tumbles 11%
emerged as the top laggard among the Nifty 500 stocks, plunging 11% to its lowest level since April 2025 after the company announced plans to acquire German digital engineering firm Nagarro SE in a €1.4 billion deal.
also tumbled 10%, while Astral plunged after announcing a major business restructuring. Other notable losers included Asahi India Glass, Supreme Industries, Latent View Analytics, Can Fin Homes, KPR Mill and Syrma SGS Technology, all of which ended the session with losses of more than 5%.
Crude oil-sensitive stocks also came under pressure amid the rebound in oil prices. Hindustan Petroleum declined 4.8%, while PI Industries, MRF, Indian Oil Corporation, Berger Paints, UPL, Balkrishna Industries, BPCL and CEAT fell between 2.5% and 4.5%.
Auto stocks also witnessed broad-based selling, with UNO Minda, TVS Motor Company, Mahindra& Mahindra, , Tata Motors, Eicher Motors, Bajaj Auto and Ashok Leyland ending the session down between 2% and 4%.
Consumer, metal stocks lead gains
On the positive side, , Schneider Electric, and Ather Energy were among the top performers, gaining more than 8% each. Honasa Consumer also witnessed renewed buying interest, surging 7% to ₹446.65 apiece and snapping a two-day losing streak.
Metal stocks, too, saw strong demand, with Lloyds Metals & Energy, NALCO, Vedanta, Welspun Corp, SAIL, and Hindustan Zinc rallying between 1.5% and 5%.
Other notable gainers included Meesho, Granules India, Linde India, Saregama India, Gabriel India, , Laurus Labs, Cemindia Projects, Jyoti CNC Automation, Hitachi Energy India, Choice International, Aegis Logistics, MCX, and Emami, all of which ended the session with gains of more than 3%.
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