The headline equity indices tumbled on Tuesday, as fragile investor sentiment deteriorated amid fading hopes of a quick resolution to the US-Iran conflict, which has sparked a surge in oil prices. Brent crude shot past the $110 per barrel mark, amplifying concerns.

Sustained foreign fund outflows further battered sentiment, while volatility spiked ahead of the monthly Nifty 50 derivatives expiry. The Nifty 50 slipped below the 24,000 mark, dragged down by heavy selling in banking and auto stocks. Energy and metal shares, however, defied the broader weakness and ended higher.

The S&P BSE Sensex dropped 416.72 points or 0.54% to 76,886.91. The Nifty 50 index fell 97 points or 0.40% to 23,995.70.

Axis Bank (down 2.65%), ICICI Bank (down 1.77%) and HDFC Bank (down 0.96%) were major index drags today.

In the broader market, the BSE 150 MidCap Index fell 0.04% and the BSE 250 SmallCap Index shed 0.05%.

The market breadth was negative. On the BSE, 1,998 shares rose and 2,257 shares fell. A total of 178 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 1.79% to 18.05.

Numbers to Tracks:

The yield on India's 10-year benchmark federal paper rose 0.52% to 6.979 compared with previous session close of 6.943.

In the foreign exchange market, the rupee lowered against the dollar. The partially convertible rupee was hovering at 94.5625 compared with its close of 94.1500 during the previous trading session.

MCX Gold futures for 5 June 2026 settlement declined 1% to Rs 150,200.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.25% to 98.74.

The United States 10-year bond yield added 0.51% to 4.357.

In the commodities market, Brent crude for June 2026 settlement jumped $3.20 or 2.96% to $111.43 a barrel.

Global Market:

US Dow Jones futures jumped 201 points, signalling a firm start for Wall Street later today.

European shares edged higher on Tuesday as investors tracked Washington's response to Iran's peace proposals and assessed earnings from regional companies.

Asian indices mostly declined after the Bank of Japan held its policy rate at 0.75% in April 2026 by a 6-3 vote. The central bank raised its FY26 inflation forecast to 2.8% from 1.9% but sharply trimmed its growth outlook to 0.5% from 1.0%, reflecting rising energy costs and geopolitical risks. The FY25 GDP projection was marginally revised up to 1.0%.

Japan's unemployment rate rose to 2.7% in March 2026 from 2.6% in February, slightly above expectations. The number of unemployed increased to 1.86 million, while employment declined to 68.15 million. The labour force shrank to 70.02 million, even as the participation rate edged up to 63.6%. The jobs-to-applicants ratio slipped to 1.18 from 1.19.

In the US, Donald Trump and his national security team discussed Iran's reported proposal to reopen the Strait of Hormuz in exchange for lifting sanctions and ending hostilities, according to the White House. However, uncertainty remains over whether Washington will consider the offer, as Trump has maintained that sanctions relief would follow only after a fully concluded deal.

Overnight, Wall Street hit fresh record highs, though gains remained capped amid geopolitical tensions and rising oil prices. The S&P 500 rose 0.12% to close at a record 7,173.91, while the Nasdaq Composite gained 0.20% to end at 24,887.10. Both indices touched new intraday highs. The Dow Jones Industrial Average, however, slipped 0.13% to 49,167.79.

Stocks in Spotlight:

Maruti Suzuki India fell 2.53%. On a standalone basis, net profit declined 6.9% YoY to Rs 3,590.5 crore in Q4 FY26 from Rs 3,857.3 crore in Q4 FY25, weighed down by mark-to-market impact. Revenue from operations rose 28.9% YoY to Rs 50,078.7 crore in Q4 FY26 compared with Rs 38,839.1 crore a year ago. Profit before tax stood at Rs 4,836 crore in Q4 FY26, down 0.5% vs Q4 FY25. The company recorded its highest-ever quarterly sales volume of 676,209 units, up 11.8% YoY. Domestic sales stood at 538,994 units, while exports hit a record 137,215 units.

AU Small Finance Bank (SFB) slipped 2.03%. The company reported a standalone net profit of Rs 831.87 crore in Q4 FY26, up 65.15% as against Rs 503.70 crore posted in Q4 FY25. Total income surged 14.29% to Rs 5,750.09 crore in Q4 FY26, compared with Rs 5031.27 crore posted in Q4 FY25.

The bank has appointed Gaurav Jain as Chief Financial Officer (CFO) with effect from April 27, 2026. He was earlier serving as interim CFO from September 26, 2025.

Piramal Finance surged 9.13% after the company's consolidated net profit surged 389.8% to Rs 501.77 crore on 53.7% jump in revenue from operations to Rs 4801.09 crore in Q4 FY26 over Q4 FY25. Meanwhile, the company's board recommended a final dividend of Rs 11 per equity of face value of Rs 2 each for FY26.

The Phoenix Mills slipped 2.36%. The company reported a 50% rise in consolidated net profit to Rs 403.35 crore in Q4 FY26, compared with Rs 268.82 crore in Q4 FY25. Net sales stood at Rs 1,233.20 crore, registering a year-on-year (YoY) growth of 21.3%.

Meanwhile, the company has recommended a final dividend of Rs 2.50 per equity share of face value Rs 2 each, translating to a 125% payout for FY26, subject to shareholder approval at the upcoming annual general meeting.

Websol Energy System hit the 5% upper circuit after the company reported a sharp jump in earnings for the March quarter, backed by strong revenue growth. On a consolidated basis, net profit rose 157.9% YoY to Rs 125 crore in Q4 FY26 from Rs 48 crore in Q4 FY25. Sequentially, profit increased 91.6% from Rs 65 crore in Q3 FY26. Revenue from operations surged 132.1% YoY to Rs 401 crore in Q4 FY26 compared with Rs 173 crore a year ago. On a QoQ basis, revenue jumped 53.8% from Rs 261 crore.

Coal India rallied 3.10% after the company reported a 12.9% jump in consolidated net profit to Rs 10,839.18 crore on 5.75% rise in revenue from operations to Rs 46,490.03 crore in Q4 FY26 over Q4 FY25. Meanwhile, the company's board declared a final dividend of Rs 5.25 per equity share on the face value of Rs 10 each for FY26.

UltraTech Cement slipped 1.64%. The cement major reported a 20.17% year-on-year (YoY) rise in consolidated net profit to Rs 2,982.76 crore on an 11.86% increase in revenue from operations to Rs 25,799.47 crore in Q4 FY26 over Q4 FY25.

City Union Bank added 1.60% after the bank's standalone net profit jumped 24.9% to Rs 359.56 crore on 20.3% increase in total income to Rs 2146.09 crore in Q4 FY26over Q4 FY25.

Meanwhile, the company's board recommended a dividend of Rs 2 per equity share on face value of Re 1 per equity share for financial year 2025-2026. Additionally, the board also approved the issuance of bonus shares in the ratio of 1:3 equity share, offering 1 equity share for every 3 fully paid up equity shares held as on record date.

Bondada Engineering dropped 6.02%. The company's consolidated net profit rose 13.3% to Rs 62.88 crore in Q4 FY26 as against Rs 55.51 crore in Q4 FY25. Revenue from operations jumped 27.9% year on year (YoY) to Rs 913.85 crore in Q4 FY26.

Plastiblends India surged 14.53% after the company reported a strong rise in March quarter earnings. On a standalone basis, net profit rose 44.8% YoY to Rs 13.86 crore in Q4 FY26 from Rs 9.57 crore in Q4 FY25. On a sequential basis, profit jumped 114.2% from Rs 6.47 crore in Q3 FY26. Revenue from operations grew 5.8% YoY to Rs 210.62 crore in Q4 FY26 compared with Rs 199.16 crore a year ago. Sequentially, revenue increased 13.4% from Rs 185.8 crore in Q3.

Adani Total Gas advanced 2.81% after the company reported 4.3% rise in standalone net profit to Rs 155.84 crore on 15.9% increase in revenue from operations (exlcuding excise duty) to Rs 1,548.58 crore in Q4 FY26 over Q4 FY25. Meanwhile, the company's board recommended a dividend of Rs 0.25 per equity share of face value of Re 1 each fully paid-up for FY26.

Rallis India rose 0.17% after the company's standalone net loss narrowed sharply to Rs 15 crore in Q4 FY26 from Rs 32 crore in Q4 FY25. Revenue from operations rose 6% year-on-year (YoY) to Rs 456 crore in Q4 FY26.

IFCI declined 2.09%. The company's consolidated net profit tumbled 94.18% to Rs 13.22 crore despite 13.74% increase in revenue from operations to Rs 470.43 crore in Q4 FY26 over Q4 FY25.

Fabtech Technologies rallied 6.49% after the company reported 46.2% jump in consolidated net profit to Rs 22.06 crore on a 17.5% increase in net sales to Rs 158.52 crore in Q4 FY26 as compared with Q4 FY25.

AGI Greenpac surged 19.28% after the company reported a healthy March quarter performance. On a consolidated basis, net profit rose 19.4% YoY to Rs 115.38 crore in Q4 FY26 from Rs 96.61 crore in Q4 FY25. Revenue from operations increased 5.3% YoY to Rs 742.39 crore in Q4 FY26 compared with Rs 704.83 crore a year ago.

Prataap Snacks added 0.95The company reported a consolidated net profit of Rs 1.14 crore in Q4 FY26 as against a net loss of Rs 11.94 crore in Q4 FY25. Income from operations for the period under review was Rs 420.18 crore, an increase of 5% over Q4 FY25.

Meghna Infracon Infrastructure advanced 2.08fter the company announced an expansion of its redevelopment portfolio in Mumbai. The company said it has added projects with an estimated Gross Development Value (GDV) of Rs 600 crore, taking its cumulative estimated GDV to over Rs 1,000 crore. The expansion includes premium residential and commercial projects across key micro-markets in the Mumbai Metropolitan Region, including western suburbs and Thane. The developments will be executed under the redevelopment model and will offer housing, retail and office spaces.