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The key equity benchmarks traded with major losses in morning trade, weighed down by negative global sentiment after Israel declared a state of emergency following strikes on Iranian nuclear and strategic sites. Market participants rushed toward safe-haven assets, while investors closely monitored geopolitical developments and trends in Brent crude oil prices. The Nifty traded below the 24,700 level. Oil & gas stocks extended their losing streak for a second straight session amid escalating geopolitical tensions. At 10:25 IST, the barometer index, the S&P BSE Sensex, declined 740.04 points or 0.90% to 80,959.72. The Nifty 50 index fell 225 points or 0.95% to 24,669.60. In the broader market, the S&P BSE Mid-Cap index slipped 0.46% and the S&P BSE Small-Cap index dropped 0.40%. The market breadth was weak. On the BSE, 1,093 shares rose and 2,452 shares fell. A total of 197 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, surging 8.74% to 15.24. Economy: India's Consumer Price Index (CPI)-based inflation eased to 2.82% in May 2025, down 34 basis points from April's 3.16%, marking the lowest reading since February 2019. A key driver of the decline was food inflation, which dropped to 0.99%, the lowest since October 2021, significantly below both April's 1.78%. Buzzing Index: The Nifty Oil & Gas index fell 1.27% to 11,380.50. The index declined 2.94% in the two consecutive trading sessions. Indraprastha Gas (down 3.51%), Bharat Petroleum Corporation (down 3.3%), Hindustan Petroleum Corporation (down 2.75%), Mahanagar Gas (down 2.66%), Gujarat Gas (down 1.73%), Reliance Industries (down 1.69%), GAIL (India) (down 1.69%), Adani Total Gas (down 1.69%), Indian Oil Corporation (down 1.51%) and Castrol India (down 1.08%) declined. Stock in Spotlight: Crompton Greaves Consumer Electricals shed 0.31%. The company has secured a Letter of Award (LoA) worth Rs 100.68 crore from the Maharashtra Energy Development Agency (MEDA) for supplying and installing 4,500 Off-grid Solar Photovoltaic Water Pumping Systems (SPWPS) Powered by Capital Market - Live News |