The key equity benchmarks ended sharply lower on Thursday, snapping a five-day winning streak as investor sentiment weakened amid global uncertainty. The decline was driven by concerns around the US-Iran ceasefire, which weighed on markets worldwide.

Adding to the cautious mood, investors remained on the sidelines ahead of TCS's quarterly earnings, seeking cues for the IT sector. Volatility also rose due to the weekly expiry of Sensex derivatives contracts, further pressuring indices. The Nifty slipped below the 23,800 mark, dragged by losses in banking and financial services stocks.

The S&P BSE Sensex tumbled 931.25 points or 1.20% to 76,631.65. The Nifty 50 index dropped 222.25 points or 0.93% to 23,775.10. In the past five consecutive trading sessions, the Sensex surged 7.80% while the Nifty soared 7.46%.

Larsen & Toubro (down 2.75%), HDFC Bank (down 2.31%) and ICICI Bank (down 2.18%) were major index drags today.

The broader market outperformed the key equity indices. In the broader market, the BSE 150 MidCap index added 0.09% and the BSE 250 SmallCap index rose 0.25%.

The market breadth was positive. On the BSE, 2,150 shares rose and 2,137 shares fell. A total of 136 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 3.70% to 20.43.

Economy:

The World Bank has raised India's growth forecast to 6.6% for the current financial year, up from 6.3%, citing strong domestic demand, resilient exports and recent free trade agreements. The report estimates India's growth accelerated to 7.6% in FY26 from 7.1% in FY25, supported by robust private consumption driven by low inflation and GST rationalisation.

While lower GST rates are expected to support demand in early FY27, elevated global energy prices may pressure household incomes. The World Bank said India will remain the key growth driver for South Asia, with the region's outlook largely anchored by its performance.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.58% to 6.938 compared with previous session close of 6.898.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 92.7800 compared with its close of 92.5400 during the previous trading session.

MCX Gold futures for 5 June 2026 settlement added 0.15% to Rs 152,003.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.07% to 98.85.

The United States 10-year bond yield shed 0.05% to 4.286.

In the commodities market, Brent crude for June 2026 settlement gained $3.39 or 3.58% to $98.14 a barrel.

Global Markets:

US Dow Jones futures fell 195 points, indicating a weak start for Wall Street later today. European and Asian markets also declined as geopolitical tensions resurfaced.

Investor sentiment weakened after Iran's parliamentary speaker accused the US of breaching a proposed two-week ceasefire. The ceasefire was announced on Wednesday by US President Donald Trump following more than a month of conflict.

Disagreements have emerged over the scope of the ceasefire, particularly regarding Lebanon. Iran has alleged violations due to continued Israeli operations, while the US has indicated Lebanon was not part of the agreement.

Uncertainty remains over upcoming talks, with Iranian negotiators expected to arrive in Islamabad for discussions with US officials. The talks are tentatively scheduled for later this week.

Trump said US forces will remain positioned around Iran until a formal agreement is reached. He also reiterated calls for Iran to halt its nuclear programme.

Iran has rejected key US demands and termed it unreasonable to proceed with talks without addressing the situation in Lebanon. Reports also suggest Tehran has taken steps affecting movement through the Strait of Hormuz.

US markets had rallied in the previous session amid ceasefire talks. The Dow Jones Industrial Average surged 2.85%, while the S&P 500 and Nasdaq gained 2.51% and 2.80%, respectively.

Stocks in Spotlight:

Tata Consultancy Services (TCS) rose 1.09%. The IT major reported a 2.08% rise in consolidated net profit to Rs 13,718 crore on a 5.38% increase in revenue from operations to Rs 70,698 crore in Q4 FY26 over Q3 FY26. Revenue in dollar terms stood at $7,621 million, up 1.5% QoQ. In constant currency terms, revenue grew 1.2% sequentially.

TCS reported strong TCV at $40.7 billion for FY26 and $12 billion for Q4, among the highest on record, including three mega deals in the quarter and five for the year. The board proposed a final dividend of Rs 31 per equity share.

Embassy Developments hit an upper circuit of 5% after the company's pre-sales jumped 89% to Rs 2,632 crore in Q4 FY26 compared with Rs 1,392 crore in Q3 FY26. Collections stood at Rs 577 crore in Q4 FY26, up 39% compared with Rs 414 crore posted in Q3 FY26.

Anand Rathi Wealth rallied 4.42% after the company's consolidated net profit jumped 40.9% to Rs 103.08 crore on 29.67% increase in revenue from operations to Rs 287.81 crore in Q4 FY26 over Q4 FY25.

Info Edge (India) fell 2.90%. The company reported modest billings growth in its Q4 business update. The standalone billings stood at Rs 1,057.1 crore for the quarter ended 31 March 2026, up 7.4% from Rs 983.8 crore a year ago. The company's overall billings growth was impacted by transitional factors in 99acres. Recruitment Solutions billings were Rs 810.7 crore (up 9.5% YoY), 99Acres billings were Rs 162.8 crore (up 1.9% YoY), Jeevansathi billings were Rs 38.6 crore (up 20.9% YoY), and Shiksha billings were Rs 45.1 crore (down 12.9% YoY) in Q4 FY26

GM Breweries slipped 3.26% after the company reported a 10.57% decline in standalone net profit of Rs 54.07 crore in Q4 FY26, compared to Rs 60.46 crore posted in Q4 FY25. However, revenue from operations (excluding excise duty) jumped 19.49% YoY to Rs 202.33 crore for the quarter ended 31 March 2026.

Signatureglobal (India) declined 0.85%. The company announced that during Q4 FY26, pre-sales amounted to Rs 1,540 crore, which is lower by 5% as compared with the pre-sales value of Rs 1,620 crore recorded in Q4 FY25.

Bharat Forge lost 2.29%. The company said that its board has approved a proposal for phased restructuring of its wholly owned German subsidiary, Bharat Forge CDP GmbH, including a potential orderly wind-down and solvent liquidation under applicable German laws.

NHPC rose 0.56%. The company informed that The Cabinet Committee on Economic Affairs (CCEA) has approved an investment of Rs 26,069.50 crore for the construction of Kamala Hydro Electric Project (HEP) in Kamle, Kra Daadi & Kurung Kumey, Arunachal Pradesh. The project will be implemented through a joint venture company between NHPC and the Govt. of Arunachal Pradesh.

Honasa Consumer jumped 6.22% after the company said that it expects the business to deliver growth in late twenties during Q4 FY26, driven by strong growth across focus categories.

Bosch rallied 2.28% after the company signed share purchase agreement to acquire 100% stake in Bosch Chassis Systems India for total consideration not exceeding Rs 9,068.68 crore. The stake will be acquired from Robert Bosch Investment Nederland B.V (RBNI), Netherlands and Robert Bosch LLC, USA through combination of cash payment and issuance of equity shares on a preferential basis. As part of the transaction, the company will issue 1,230 equity shares at Rs 35,200 per share to each shareholder while remaining consideration will be paid in cash.

Lupin rose 0.11%. The company said that it has received approval from the US Food and Drug Administration (USFDA) for its abbreviated new drug application for Dapagliflozin and Metformin Hydrochloride extended-release tablets in the United States.

Dilip Buildcon added 1%. The company said it has been declared the lowest (L1) bidder for a Rs 268 crore project in Gujarat, tendered by the Narmada Water Resources, Water Supply, and Kalpasar Department.

Apollo Micro Systems climbed 11.83% after the company announced it has successfully completed blast trials for Limpet Mines, diver-carried mines used in naval defence.

NTPC gained 1.12% after the company announced that it has signed a non-binding memorandum of understanding (MoU) with 'lectricit' de France (EDF) to explore cooperation in developing new nuclear power projects in India.

HBL Engineering rose 0.45%. The company said that it has received a domestic contract from Patiala Loco Works (PLW), Punjab, for the supply, testing, and commissioning of Onboard KAVACH equipment (Ver. 4.0). The contract, valued at Rs 83.81 crore, is scheduled to be completed by 15 April 2027.

KEC International rose 1.85%. The company secured multiple new orders worth Rs 2,518 crore across its civil, transportation, transmission & distribution (T&D), and cables & conductors businesses.

IPO Update:

Om Power Transmission received bids for 23,69,460 shares as against 60,02,730 shares on offer, according to stock exchange data at 16:55 IST on Thursday (9 April 2026). The issue was subscribed 0.39 times.

The issue opened for bidding on 9 April 2026 and will now close on 13 Apri 2026. The price band of the IPO is fixed between Rs 166 and 175 per share.