At 09:30 IST, the barometer index, the S&P BSE Sensex, dropped 379.95 points or 0.45% to 73,608.17. The Nifty 50 index fell 107.85 points or 0.47% to 23,107.75.

The broader market underperformed the frontline indices. The BSE 150 MidCap Index fell 0.49% and the BSE 250 SmallCap Index shed 0.48%.

The market breadth was weak. On the BSE, 1,061 shares rose and 1,817 shares fell. A total of 167 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,124.98 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 3,123.95 crore in the Indian equity market on 10 June 2026, provisional data showed.

Stocks in Spotlight:

State Bank of India shed 0.53%. The company announced an increase in FCNR(B) deposit rates for the 3'5-year tenure bucket to 5.25%'6.00%. The 5-year rate was raised by up to 295 bps, the 4 to under 5-year rate by up to 280 bps, and the 3 to under 4-year rate by nearly 215 bps.

Aurionpro Solutions shed 0.27%. The company said it is targeting a stronger FY27 presence in modular and edge products while actively rebuilding and repricing its banking software portfolio.

Honasa Consumer rose 0.90%. The company reported around 30% growth in its focus categories for FY26 and said it is targeting a 15% EBITDA margin through a 500 bps margin expansion.

Numbers to Track:

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 95.5675 compared with its close of 95.2500 during the previous trading session.

MCX Gold futures for 5 August 2026 settlement fell 0.84% to Rs 1,46,773.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.07% to 99.97.

The United States 10-year bond yield rose 0.29% to 4.554.

In the commodities market, Brent crude for August 2026 settlement rose $1.71 or 1.84% to $94.81 a barrel.

Global Markets:

Asian stocks fell on Thursday as investor sentiment was weighed down by a Wall Street selloff after a hotter-than-expected U.S. inflation reading and renewed U.S.-Iran tensions that have fuelled a rise in oil prices.

U.S. annual inflation rose to 4.2% in May 2026, its highest level since April 2023, up from 3.8% in April, driven mainly by a sharp increase in energy prices amid the Iran conflict. Energy costs surged 23.5% year-on-year, while core inflation edged up to 2.9%. On a monthly basis, CPI rose 0.5%, in line with expectations.

Investors are now closely monitoring the release of the US Producer Price Index (PPI) data for May, which is expected later in the day.

The United States began a fresh round of strikes against multiple targets in Iran, the U.S. military said on Wednesday, hours after President Donald Trump vowed new attacks if no peace deal is secured. Iran announced the closure of the Strait of Hormuz in response. Brent crude rose 2% to $94.93 a barrel as trading resumed in Asia.

Overnight on Wall Street, U.S. equities fell on Wednesday after President Donald Trump signaled that negotiations with Iran were taking 'too long' and threatened more action.

The Dow Jones Industrial Average fell by 953.33 points, or 1.87%, to 49,918.78. The S&P 500 lost 1.62% to end at 7,266.99, and the Nasdaq Composite dropped 1.98% to settle at 25,169.50.

The major averages dropped after Trump pledged more Iran attacks, saying that 'we're going to be attacking them very hard.' He wrote early Wednesday that Iran has taken too long to negotiate a deal that would have been great for them; now they will have to pay the price.'

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