Nifty slips as war, yields hit sentiment; Infosys, Belrise in focus

Indian equities opened on a weak note on Tuesday as geopolitical tensions, higher global yields and a slide in precious metals kept risk appetite in check, with the Nifty 50 hovering near a two‑month low and volatility gauges elevated. Early trade action was stock specific, with Infosys in focus ahead of its ₹25 per share dividend record date and Belrise Industries drawing attention after a bullish brokerage initiation.

Market overview

Index	9 Jun 2026 Open (approx.)	Move & % Change	Comments
Nifty 50	approx. 23,100	Weak, near 2‑month low	Selling pressure persists as war risk and yields weigh.
Sensex	approx. 76,000	Mildly lower	Tracks Nifty weakness amid broad risk aversion.
India VIX	Higher vs recent average	Up (approx.)	Volatility elevated as swings rise on geopolitical worries.

Note: figures are approximate; final exchange data not available at time of publication.

• Nifty 50 trades near a two‑month closing low after renewed selling pressure.
• Market swings rise as war risk, costlier energy and global growth worries hit sentiment.
• Geopolitics around the Middle East and US‑Iran tensions keep risk assets under pressure.

Key movers

Stock	Sector	Notable factor
Infosys	IT services	Last day to buy shares to qualify for ₹25 final dividend.
Belrise Industries	Auto components	Brokerage initiated coverage with “Buy” and ₹270 target price.

• Infosys has 10 June as record date for its ₹25 per share FY26 final dividend.
• Under T+1 settlement, 9 June is effectively the last day to buy Infosys for the payout.
• Infosys will pay the dividend on 25 June 2026, as per its earlier board decision.
• Infosys Q4 FY26 consolidated net profit rose 21% YoY to ₹8,501 crore.
• Q4 FY26 revenue from operations increased over 13% YoY to ₹46,403 crore.
• Infosys shares have fallen about 27% in 2026 amid global IT underperformance.
• The stock is down over 24% in one year and 16% over five years.
• Belrise Industries closed Monday at ₹214.85, down 0.5%.
• The Belrise target of ₹270 implies nearly 26% upside from Monday’s close.
• Belrise has rallied about 107.4% in 12 months and over 137% from its ₹90 IPO price.

Sectoral action

Sector/Index	**Direction (approx.)	Key Drivers
IT services	Mixed to weak	Infosys ex‑dividend positioning, global AI disruption concerns.
Auto & ancillaries	Stock specific	Interest in Belrise on growth, diversification plans.
Commodities / bullion proxies	Weak	MCX gold and silver track global precious metals decline.

Note: figures are approximate; final exchange data not available at time of publication.

• Infosys, TCS, HCL Tech, Wipro, Tech Mahindra remain under pressure in 2026.
• Global worries around AI‑led disruption continue to weigh on large‑cap IT valuations.
• Auto and components trade mixed, with focus on companies expanding into new segments.
• Broader market sentiment remains cautious amid foreign portfolio outflows.

Commodities and bullion

Asset	Value / Move	Comments
MCX Gold Aug futures	Opened at ₹1,54,397 per 10g	Down 0.25% from previous ₹1,54,784 close.
MCX Silver Jul futures	Opened at ₹2,44,252 per kg	Down ₹2,137 or 0.86% from prior close.
Spot gold	$4,319–4,332 per ounce	Around lowest in over two months.
US gold futures Aug	About $4,344–4,357 per ounce	Slightly lower, extending recent losses.
Spot silver	$67.71 per ounce	Down 0.7%.

Note: figures are approximate; final exchange data not available at time of publication.

• MCX gold slipped below ₹1.55 lakh per 10 grams in early trade.
• Gold prices are down for a third straight session as US Treasury yields rise.
• Higher US yields raise the opportunity cost of holding non‑yielding gold.
• Traders price over 70% probability of a US Fed rate hike by December.
• Goldman Sachs expects the Fed to keep rates unchanged through 2026, cuts only in 2027.
• SPDR Gold Trust holdings fell 0.5% to 929.62 tonnes, signalling softer ETF demand.
• A fragile ceasefire between Israel and Iran has reduced immediate safe‑haven demand.
• Iran warned hostilities could resume if Israel continues strikes on Hezbollah in Lebanon.

Technical outlook on Nifty

• The benchmark index ended the previous session at a two‑month low.
• Momentum indicators, including RSI, are at their weakest since 1 April.
• Open‑interest data points to a weak near‑term market structure into weekly expiry.
• Traders watch support near recent swing lows and resistance at prior congestion zones.

Global and macro cues

Market/Asset	Movement	Notes
Global equities	Mixed / cautious	Geopolitics, higher yields, global growth concerns weigh.
US 10‑year Treasury yield	Higher, 2‑week high	Pressures gold, tightens global financial conditions.
Crude oil	Costlier vs recent weeks	Adds to inflation and energy cost worries.

Note: figures are approximate; final data not available at time of publication.

• Geopolitics, costlier energy and global growth uncertainty are weighing on Indian sentiment.
• War risk has pushed Nifty swings higher, as per volatility indicators.
• Global investors reassess risk assets amid rising bond yields and delayed Fed cuts.

Corporate and stock‑specific developments

• Infosys maintains a consistent dividend track, with an interim ₹23 paid in October 2025.
• The company had paid a final ₹22 dividend on 30 May 2025.
• Infosys Q4 FY26 PAT rose 28% QoQ from ₹6,654 crore in Q3 FY26.
• Q4 revenue grew 2% QoQ from ₹45,479 crore in Q3 FY26.
• Belrise Industries is expanding beyond metal fabrication into advanced manufacturing.
• The company is diversifying into defence and aerospace, adding new growth avenues.
• A proposed ₹2,000 crore QIP, if approved, will fund capacity and inorganic growth.
• Brokerage expects Belrise manufacturing revenue to rise from ₹7,700 crore in FY26 to ₹11,400 crore in FY29.
• EBITDA margins are projected to stay broadly stable at 12%–13%.
• Profit after tax is forecast to nearly double from ₹500 crore in FY26 to ₹960 crore in FY29.
• Consensus 12‑month target on Belrise stands near ₹248, implying about 15% upside.

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