The Nifty slipped below the 22,650 mark in early trade, reflecting sustained selling pressure. Sector-wise, oil & gas, healthcare, and pharma stocks witnessed declines, while PSU banks, IT, and metal stocks showed relative resilience and traded in the green.

At 09:30 IST, the barometer index, the S&P BSE Sensex, fell 382.64 points or 0.52% to 72,927.63. The Nifty 50 index slipped 105.95 points or 0.47% to 22,607.15.

In the broader market, the BSE 150 MidCap Index declined 0.55% and the BSE 250 SmallCap Index fell 0.76%.

The market breadth was negative. On the BSE, 1,540 shares rose and 1,774 shares fell. A total of 233 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, advanced 2.79% to 26.23.

Foreign portfolio investors (FPIs) sold shares worth Rs 9,931.13 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 7,208.41 crore in the Indian equity market on 02 April 2026, provisional data showed.

Stocks in Spotlight:

Avenue Supermarts (D Mart) added 0.66%. The company reported an 18.96% jump in standalone revenue to Rs 17,204.50 crore in Q4 March 2026 compared with Rs 14,462.39 crore posted in the corresponding quarter last year.

L&T Finance rose 1.06%. The company's retail disbursement climbed 62% to Rs 24,080 crore in Q4 FY26, compared with Rs 14,899 crore recorded in Q4 FY25.

HDFC Bank shed 0.06%. The bank's average deposits jumped 12.8% to Rs 28,51,100 crore crore in Q4 FY26 compared with Rs 25,28,000 crore in Q4 FY25.

Numbers to Track:

The yield on India's 10-year benchmark federal paper shed 0.13% to 7.120 compared with the previous session's close of 7.129.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 92.8700 compared with its close of 93.1800 during the previous trading session.

MCX Gold futures for 5 June 2026 settlement fell 0.47% to Rs 149,104.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.05% to 100.007.

The United States 10-year bond yield added 0.23% to 4.357.

In the commodities market, Brent crude for June 2026 settlement gained 84 cents or 0.77% to $109.87 a barrel.

Global Markets:

Japan and South Korean stocks rose Monday, while most Asian markets were closed for holidays, as investors parsed the latest developments in the Middle East conflict over the weekend.

President Donald Trump on Sunday issued a fresh round of threats to attack Iran's power plants and civilian infrastructure starting Tuesday, if Tehran failed to fully reopen the Strait of Hormuz.

The key oil chokepoint between Iran and the Arabian Peninsula handled about one-fifth of the world's oil supplies before the war between U.S.-Israel and Iran started on Feb. 28.

In an expletive-laden social media post, Trump vowed to bring Hell' to Iran after U.S. forces rescued an American airman in Iran last week.

He later posted about a Tuesday 8 P.M. Eastern Time' deadline without elaborating. The White House on Sunday told MS NOW that the date is the new deadline for Iran to reach a deal with the U.S.

Trump said he will hold a press conference with the Military' at the Oval Office at 1 p.m. on Monday.

Iran has pushed back against Trump's ultimatum to reopen the Strait of Hormuz, saying that the critical waterway would only reopen fully after damage from the war is compensated. Tehran has continued strikes on economic and infrastructure targets in the neighboring Gulf region, including Kuwait's oil headquarters.

Eight members of the Organization of the Petroleum Exporting Countries and allies raised their production quotas on Sunday by 206,000 barrels per day for May, though the move appeared largely symbolic as the war has constrained shipments from several members.

On Thursday, the Dow Jones Industrial Average slipped in volatile trading as oil prices surged following President Donald Trump's remarks that the Iran war would continue for weeks.