Indian markets opened the week on a deeply bearish note as Iran fired missiles at Israel, reigniting West Asia tensions and triggering a sharp risk-off selloff across global markets.
📊 Market Close – June 8, 2026
| Index | Close | Change | % |
|---|---|---|---|
| Nifty 50 | 23,123 | ▼ 243.70 | −1.04% |
| BSE Sensex | 73,524 | ▼ 719 pts | −0.97% |
| Bank Nifty | 54,108 | ▼ | −0.71% |
| Nifty IT | 28,489 | ▼ | −1.80% |
| Nifty Midcap 100 | 60,240 | ▼ | −1.40% |
| Nifty Smallcap 100 | 17,993 | ▼ | −1.92% |
| Nifty Pharma | 24,372 | ▲ | +0.51% |
| India VIX | 17.06 | ▲ | +8.07% |
🚨 Why Did Markets Fall?
- Iran-Israel Escalation: Iran fired ballistic missiles at Israel following Israeli strikes on Lebanon. The KOSPI (South Korea) crashed ~9% on Monday, halting trading briefly.
- Crude Oil Surge: Brent crude spiked above $108/barrel amid Strait of Hormuz fears.
- Rupee Weakness: INR slipped to ₹95.31 against the USD, opening weaker by 35 paise.
- FII Outflows: Foreign investors sold ₹8,776 Cr worth of equities on Friday (June 5).
📈 Top Gainers & Losers
Top Losers: Wipro (−4.62%), Tata Steel (−2.26%), M&M (−2.12%), Hindalco (−2.11%), IndiGo (−1.95%), Nifty Realty (−1.89%), TCS (−1.9%), Tech Mahindra (−1.2%)
Top Gainers: Bajaj Finance (+1.8%), Axis Bank (+1.7%), ICICI Bank (+0.8%), Nifty Pharma (+0.51%), Nifty PSU Bank (+0.05%)
🏦 FII / DII Flows (June 5, 2026)
- 🔴 FII: −₹8,776.25 Cr (Net Sellers)
- 🟢 DII: +₹9,133.57 Cr (Net Buyers)
🏛️ RBI Policy Update
The RBI unanimously kept the repo rate unchanged at 5.25% with a “neutral” stance. The central bank raised its inflation forecast and cut GDP growth projection for FY27. Steps were announced to improve foreign investor participation in bond markets. RBI confirmed the July 1 deadline for proposed proprietary trading lending norms.
🔮 Key Levels to Watch
- Nifty Support: 23,000 (critical) → 22,800–22,700 (next zone)
- Technical: Nifty has reached the lower band of its downward-sloping consolidation phase near 23,000. A bounce cannot be ruled out, but a decisive close below 23,000 could accelerate the selloff.
Disclaimer: This is market information only, not financial advice. Always consult a qualified advisor before investing.
