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• Equity benchmark indices witnessed a sharp sell-off, with the Sensex plunging more than 1,100 points and the Nifty falling 1.6% to a five-month low below the 22,800 level. Market sentiment was weighed down by a sharp rise in crude oil prices above $108/bbl, renewed geopolitical uncertainties, weak Asian market cues, and nearly 1% decline in US index futures. The surge in US 10-year Treasury yields to a multi-year high above 5.20%, continued foreign investor selling, and heightened geopolitical tensions further dampened investor sentiment.

• Brent crude prices rose nearly 3% to around $108/bbl after the US rejected Iran’s proposal to reopen the Strait of Hormuz, raising concerns over the uninterrupted flow of crude oil through the region and the potential impact on global energy supplies. The Nifty declined 360 points, or 1.6%, to close at 22,780, while the Sensex fell 1,124 points, or 1.5%, to 72,771.

• Selling pressure was broad-based, with major sectoral indices, including Nifty Auto, Metal, IT, Realty, Banks and Defence Index, declining between 1-3%. The Nifty 500 stocks advance-decline ratio stood at 9:1, while the Nifty 50 advance-decline ratio was 24:1, indicating widespread selling across the market. India VIX surged 12% to above the 13 level, reflecting increased market volatility.

• Globally, Asian equity markets declined by up to 2%, while European markets traded mixed. US index futures slipped nearly 1% as the lack of progress on a US-Iran agreement to reopen the Strait of Hormuz weighed on risk appetite and overall market sentiment.

Technical Outlook:

• Nifty index opened negative and witnessed intense selling from the initial tick as bears maintained a firm grip on the index throughout the session. It failed to see any substantial retracement and continued to make lower highs for the fifth consecutive session. It formed a big bearish candle on the daily frame, giving the lowest daily close of the last 121 sessions and broke its crucial 22800 support zones. Now till it holds below 22800 zones weakness could extend towards 22650 then 22500 levels while on the upside hurdles can be seen at 22900 then 23000 zones.

• S&P BSE Sensex index opened on a negative note with bears taking charge from the very first tick. Intense selling was witnessed during the first hour dragging the index towards 72900 from its higher zones of 73750 zones. Thereafter, the momentum slowed down but every minor bounce was absorbed by sellers. It formed a bearish candle on the daily chart indicating continued selling pressure at higher levels. Now till it holds below 73000 zones, weakness could be seen towards 72300 then 72000 zones while hurdles have shifted lower to 73000 then 73300 zones.

Derivative Outlook:

• Nifty future closed negative with losses of 1.60% at 22815 levels. Positive setup seen in Dixon, Dr Reddy, Bluestar and Zydus Life while weakness seen in Manappuram, Yes Bank, Bank of India, Nam India, Idea, Union Bank, Indus Tower, GMR Airports, IDFC First, Delhivery, Uno Minda, National Aluminum, Swiggy and KEI Industries.

• On option front, Maximum Call OI is at 22900 then 22800 strike while Maximum Put OI is at 22800 then 22700 strike. Call writing is seen at 23000 then 22900 strike while Put writing is seen at 22800 then 22700 strike. Option data suggests a broader trading range in between 22400 to 23200 zones while an immediate range between 22600 to 23000 levels.

• Radico Khaitan first Indian firm enters duty-free shops at four major UK airports – Radico Khaitan becomes first Indian spirits firm in UK airport duty-free shops. Presence secured at Heathrow, Gatwick, Manchester and Birmingham. Four airports handled over 170 million passengers in 2025. Prestige & Above segment contributed 70.3% of IMFL value in FY26. • Aequs board approves Rs 650 cr equity infusion for capacity expansion – Company said its board has approved Rs 650 crore equity infusion, which will be deployed to expand capacity in aerospace and consumer business besides supporting its borrowing programme.

• Sun Pharma Licenses LIB Cholesterol Medicine Excluding US, China – Company signed an exclusive licensing agreement with LIB Therapeutics Inc granting the Indian firm rights to commercialize and manufacture lerodalcibep worldwide, excluding US and China.

• Hypersoft Technologies – Company has announced a strategic entry into the artificial intelligence (AI) segment. The company said it has introduced a unified AI platform focused on data science and ERP solutions.

• Servotech Renewable Power – Company has launched new products, including a Hybrid Solar Inverter and a Micro Grid Inverter. The company said the products will be available for export to SAARC countries and the Middle East.

• Dilip Buildcon – Company has emerged as the lowest bidder for a tender floated by the National Highways Authority of India (NHAI) in Maharashtra worth Rs1151cr.

• Morepen Laboratories – Company has submitted an Abbreviated New Drug Application (ANDA) to the US Food and Drug Administration (US FDA) for Sitagliptin Tablets. The filing marks the company's first application for Sitagliptin in the US market.

• Kalpataru Projects International has secured a major international order worth over Rs 4,000 crore from UAE. The order has been awarded under the company's oil and gas business segment.

• Man Infraconstruction – Company has entered into an agreement with Godrej Properties to develop a residential project in Marine Lines, South Mumbai. The project is expected to unlock an overall revenue potential of Rs 6,000 crore.

• Paras Defense – Company won order worth Rs26.59cr defense order

• Augmont Enterprises – The National Stock Exchange of India officially approved the firm as a partner for the promotion of Electronic Gold Receipts Global Market Update

• Asian Market – Asian stock markets declined as the lack of progress on a US-Iran deal to reopen the Strait of Hormuz pressured risk appetite. Oil price gained 2% to above $107/bbl. Japan, South Korea and Taiwan Index declined up to 2%.

• European Market – European shares marginally gained on Monday as investors looked past rising bond yields and a renewed surge in oil prices, with UK homebuilders jumping after the government announced a new loan program to help first-time buyers. UK, Germany and France Index gained up to 0.2%

• Commodity – Brent crude jumped more than three percent to $107/bbl Monday after Donald Trump rejected an Iranian offer of a seven-day truce that Tehran said would see it reopen the Strait of Hormuz.

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