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• Equity benchmark indices ended sharply lower, with the Sensex falling nearly 600 points and the Nifty slipping below the 23,900 mark, weighed down by weakness in global markets and concerns surrounding the US-Iran peace deal. Most sectoral indices ended in negative territory, declining by up to 3%.

• Among global markets, US futures fell as much as 2%, while Asian markets declined up to 4%. South Korean equities retreated from record highs as investors sold semiconductor heavyweights amid concerns that the recent rally had become overstretched, prompting the local exchange to temporarily halt program selling.

• The Nifty declined 278 points, or 1.16%, to close at 23,824, while the Sensex dropped 837 points, or 1.1%, to settle at 76,255. Sectorally, Nifty IT and Nifty Metal emerged as the worst-performing indices. Nifty IT fell over 2%, impacted by weakness in global technology and semiconductor stocks, concerns over AI-related valuations, and weaker-thanexpected earnings guidance from Accenture. Nifty Metal declined more than 3% due to a fall in aluminium prices on the LME. However, Nifty Pharma bucked the broader trend and ended the session with gains of around 1

TechnicalOutlook:

• Nifty index opened on a negative note and failed to cross 24150 zones in the first hour and faced strong rejection from the higher levels. The index remained under sustained selling pressure throughout the session and broke all its immediate support levels. Lack of buying interest at lower levels gave strength to the bears. It formed a big bearish candle on the daily frame and closed with losses of around 280 points, indicating rejection from higher resistance zones and a shift in the near term sentiment. Now if it holds below 23850 zones weakness could be seen towards 23700 then 23600 zones while on the upside hurdles have shifted lower to 23950 then 24100 zones.

• S&P BSE Sensex index opened on a flattish note and traded sideways in the initial hour of the session. Post which the bears stepped in and sustained selling pressure was seen for the rest of the day and it drifted lower from 77200 zones to 76100 mark. It formed a bearish candle on the daily chart and also negated its higher high formation of the last two sessions indicating profit taking at higher levels and closed with losses of around 900 points. Now till it holds below 76200 zones, weakness could be seen towards 75700 then 75300 zones while hurdles have shifted lower to 76500 then 76800 zones.

DerivativeOutlook:

• Nifty future closed negative with losses of 1.30% at 23810 levels. Positive setup seen in Auro Pharma, Laurus Labs, Bharat Forge, Dmart, Cipla, Oberoi Realty, Marico and Axis Bank while weakness seen in VEDL, Hind Zinc, Ashokley Land, Infy, NMDC, JSW Steel, Ambuja Cement, Sail, TCS and Wipro.

• On option front, Maximum Call OI is at 24200 then 24000 strike while Maximum Put OI is at 24000 then 23900 strike. Call writing is seen at 23900 then 24000 strike while Put writing is seen at 24000 then 23900 strike. Option data suggests a broader trading range in between 23400 to 24300 zones while an immediate range between 23600 to 24100 levels.

• DEE Development – Company's subsidiary DEE Fabricom secures a Rs 64 Cr order from Ganeko Solar for manufacturing windmill towers, marking a significant milestone.

• Interarch Building Solutions – Company bags a Rs. 165cr domestic order for pre-engineered steel building systems, to be completed in 15 months.

• Quess Corp – Company collaborates with IGS and IPA to establish an Indo-Japan GCC corridor, enabling Japanese firms to scale operations in India across AI, cybersecurity, BFSI, and more.

• NIIT – Company launches AI solutions to transform learning and development, enabling enterprises to build AI-ready operating models, architectures, workforce fluency, and leadership capabilities.

• Ola Electric – Company secures BIS certification for its indigenous 46100 LFP cell, marking a key step in India's advanced battery manufacturing and energy independence.

• Delhivery – Company and Bajaj Auto join forces to deploy 200 Bajaj RIKI eCarts, electrifying last-mile logistics in Tier-2 and Tier-3 cities, boosting rider earnings, safety, and sustainability.

• Hubtown Limited – Company secures shareholder and creditor approval for merging Saicharan Consultancy and 25 West Realty, boosting stakes in 'Rising City' and '25 West' projects.

• IRCON International Ltd – Company in JV with Badri Rai & Co., secures Rs 763 Cr contract from TSECL for Agartala Smart Grid project, including underground power cable network and advanced systems. Execution timeline: 24 months

Global Market Update

• European Market – A global rout of technology stocks spilled over into Europe in early trading, as investors balked at sky-high valuations in stocks linked to artificial-intelligence.

• Asian Market – Asian stocks fell on Tuesday, reversing the previous session’s gains as a selloff in technology shares weighed on regional markets. South Korean stocks tumbled from a record high as investors dumped chip heavyweights on concerns that the rally has become overstretched, prompting the local exchange to briefly halt program selling. Japanese equities slipped as some AI-related stocks fell following a selloff in US tech megacaps.

• US Data – Manufacturing PMI, Services PMI, Composite PMI.

• Commodity – Oil declined by 1% to $77/bbl on signs of progress in US-Iran peace talks including a waiver on some Iranian oil sanctions, bolstering hopes for a continued recovery in flows from the Gulf region. The US issued a 60-day license allowing Iran to sell oil on the international market.

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