Stock market today: Indian benchmark indices witnessed a sharp selloff on Wednesday as escalating tensions between the US and Iran, coupled with a surge in crude oil prices, triggered broad-based market weakness.
The BSE Sensex plunged 1,677.12 points, or 2.15%, to settle at 76,503.60, while the NSE Nifty 50 dropped 516.65 points, or 2.12%, ending the session at 23,882.05.
However, the market is likely to open in green as trends in the Gift Nifty index signalled a positive start on Thursday, 9 July. Gift Nifty was trading near the 23,980 mark, down over 68 points from the previous close of Nifty futures.
“Indian equity markets are expected to trade with a cautious undertone as geopolitical tensions in the Middle East have escalated further. Investor sentiment remains under pressure after the United States launched fresh strikes on Iran, with U.S. President Donald Trump stating that the ceasefire is “over.” The renewed military action has heightened concerns over regional stability and raised fears of potential disruptions to global energy supplies,” said Ponmudi R, CEO of Enrich Money.
As the market is pointing towards a positive start, some stocks are likely to remain in focus on Thursday due to their own positive/negative triggers.
Stocks to Watch
Tata Steel
The company’s crude steel production in India increased 11% year-on-year to 5.82 million tonnes during the first quarter of FY27, while deliveries grew 9% to 5.17 million tonnes. The growth was supported by higher production at its Jamshedpur and Kalinganagar facilities, the Tata Group steel major said in its provisional quarterly production update released on Wednesday.
Tata Consultancy Services
Tata Consultancy Services is scheduled to announce its first-quarter FY27 earnings on Thursday, July 9.
NALCO
State-owned National Aluminium Company Ltd (NALCO) on Wednesday (July 8) announced that it has entered into a joint venture agreement with state-owned NLC India Ltd (NLCIL) to establish a joint venture company (JVC). The new entity will develop a 4×270 MW (1,080 MW) captive thermal power plant at Angul in Odisha.
Mahindra & Mahindra
The automaker has announced a price increase across its vehicle lineup, raising prices by an average of 2.7% for its SUV range and 2% for its commercial vehicles. The revised prices will come into effect from July 10, 2026.
JSW Energy
The company announced that it commissioned 1,081 MW of renewable energy capacity since April 2026, taking its total installed capacity to 14,535 MW. The newly added capacity comprises 442 MW of solar, 108 MW of wind, 381 MW of hybrid, and 150 MW of hydro power projects.
IRB Infrastructure
The company reported a 28% year-on-year rise in gross toll collections for June 2026, with collections reaching a record ₹8.08 billion compared with ₹6.31 billion in the same month last year.
State Bank of India
State Bank of India’s asset management arm, SBI Funds Management, has filed its Red Herring Prospectus (RHP) with the Registrar of Companies ahead of the launch of its initial public offering (IPO), which is scheduled to open for public subscription on July 14.
TVS Motor, IOC
TVS Motor Company has entered into a strategic partnership with Indian Oil Corporation to enhance last-mile LPG cylinder delivery by leveraging sustainable commercial mobility solutions.
HFCL
The technology company and innovator in telecommunications and network infrastructure has unveiled OptiQ AI as the new unified brand identity for its integrated optical connectivity portfolio.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
