At 12:28 IST, the barometer index, the S&P BSE Sensex, fell 73.35 points or 0.10% to 74,702.39. The Nifty 50 index fell 33.95 points or 0.14% to 23,513.80.

The broader market underperformed the frontline indices. The BSE 150 MidCap Index fell 0.79% and the BSE 250 SmallCap Index fell 0.18%.

The market breadth was negative. On the BSE, 1,864 shares rose and 2,343 shares fell. A total of 232 shares were unchanged.

Economy :

India's manufacturing sector recorded stronger growth in May, with final figures surpassing earlier flash estimates. The HSBC India Manufacturing PMI rose to 55.0, up from 54.7 in April and the flash reading of 54.3, marking the best improvement in three months.

Producers reported the fastest increases in new orders and output since February, led by intermediate and capital goods, while consumer goods makers saw slower growth. Demand strength, infrastructure projects, and new business gains were cited as drivers. Domestic demand was the main growth engine, though export orders rose solidly, with gains from Asia, Europe, Kenya, Nigeria, and the Middle East.

Purchasing prices climbed at the second-fastest pace since April 2022, driven by energy, fuel, materials, and transport costs. Capital goods faced the steepest input cost inflation. Factory gate charges rose but at a slower pace than input costs, with only 8% of firms passing increases to customers due to competition.

Derivatives :

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 1.15% to 16.37. The Nifty 30 June 2026 futures were trading at 23,577 at a premium of 18.4 points as compared with the spot at 23,790.60.

The Nifty option chain for the 30 June 2026 expiry showed a maximum call OI of 79.8 lakh contracts at the 25,000 strike price. Maximum put OI of 61.3 lakh contracts was seen at a 24,000 strike price.

Buzzing Index:

The Nifty PSU Bank index fell 1.06% to 8,069.80. The index fell 1.89% in the two consecutive trading session.

Bank of Maharashtra (down 1.94%), Union Bank of India (down 1.75%), Punjab National Bank (down 1.74%), Canara Bank (down 1.49%), Bank of India (down 1.46%), Bank of Baroda (down 1.02%), Indian Bank (down 0.99%), Indian Overseas Bank (down 0.9%), UCO Bank (down 0.79%) and Punjab & Sind Bank (down 0.46%) declined.

Stocks in Spotlight:

Godrej Properties (GPL) fell 0.81%. The company said it has won the bid for a 23.2-acre residential land parcel in the DMIC Integrated Township in Greater Noida through an e-auction conducted by DMIC Integrated Industrial Township Greater Noida.

Rubicon Research surged 12.24% after the company's consolidated net profit soared 100% to Rs 76.78 crore on 43.49% increase in revenue from operations to Rs 513.91 crore in Q4 FY26 over Q4 FY25.

Hyundai Motor India added 3.73% after it has reported 4.15% increase in total sales for May 2026, selling 61,137 units during the month as against 58,701 units sold in the same period last year.

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