However, market participants will closely monitor monsoon developments, FII activity, and inflation trends for directional cues. Nifty slipped below the 23,950 mark.
IT, realty and consumer durables shares tumbled while pharma and media shares advanced.
At 09:25 IST, the barometer index, the S&P BSE Sensex tumbled 793.24 points or 1.02% to 76,621.27. The Nifty 50 index declined 218.20 points or 0.91% to 23,949.50.
In the broader market, the BSE 150 MidCap Index fell 0.42% and the BSE 250 SmallCap Index shed 0.03%.
The market breadth was negative. On the BSE, 1,428 shares rose and 1,535 shares fell. A total of 170 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,025.20 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 3,516.81 crore in the Indian equity market on 18 June 2026, provisional data showed.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.03% to 6.845 compared with previous session close of 6.843.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 94.2200 compared with its close of 94.4025 during the previous trading session.
MCX Gold futures for 5 August 2026 settlement fell 1.61% to Rs 146,875.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.07% to 100.92.
In the commodities market, Brent crude for August 2026 settlement fell 63 cents or 0.79% to $79.22 a barrel.
Stocks in Spotlight:
Reliance Industries (RIL) rose 0.31. The company will hold its 49th Annual General Meeting (AGM) on June 19, with investors closely tracking updates on the much-anticipated Jio listing, artificial intelligence initiatives and the company's new energy business.
According to stock exchange filings, the AGM will begin at 2 pm and will be conducted through video conferencing and other audio-visual means. The event is among the most closely followed corporate events in India, with investors looking for key strategic announcements after last year's AGM, where Mukesh Ambani outlined initiatives across telecom, AI and digital infrastructure.
Bharat Forge rose 0.48%. The company's wholly owned defence subsidiary, Kalyani Strategic Systems, has entered into a strategic partnership with AM General, a leading provider of military vehicle and mobile defence capabilities, at the Eurosatory defence exposition. The partnership is aimed at enabling broader allied distribution and positioning the platform as a scalable and exportable artillery solution for partner nations. It targets demand for modern, mobile, and survivable 155mm firepower systems across global defence markets.
HCL Technologies tumbled 5.34%. The company has launched the AI Innovation Zone in Chennai to enable enterprises to develop and operationalise Intel-based AI products along with HCLTech AI solutions. The initiative aims to accelerate the shift from experimentation to production-ready and cost-efficient AI deployments, strengthening enterprise adoption of scalable AI technologies.
Global Markets:
Most Asian markets declined on Friday even as peace in the Middle East with the reopening of the Strait of Hormuz pulled oil prices even lower and eased inflation fears.
Mainland China and Hong Kong's stock markets are closed for the Dragon Boat Festival holiday. Taiwan was also on holiday.
The U.S. dollar was on a tear, hovering near a 13-month high on its major peers, after a hawkish turn from the Federal Reserve led markets to price in more than one rate hike this year.
As per reports, oil tankers have started sailing through the Strait of Hormuz after the United States lifted its blockade on Iran on Thursday as an interim deal to end the three-month war took effect.
Overnight on Wall Street, U.S. stocks rose on Thursday, staging a comeback after the Federal Reserve indicated the possibility of a rate hike this year ' a move that sparked a sell-off in equities during the previous session.
The S&P 500 added 1.08%, closing at 7,500.58, and the Nasdaq Composite climbed 1.91% to 26,517.93. The Dow Jones Industrial Average rose by 72.15 points, or 0.14%, to end at 51,564.70.
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