US strikes in Iran spark market worries, Sensex down 479

Business May 26, 2026

Indian stock markets took a hit on Tuesday, with the Sensex falling 479 points and the Nifty down 98, mostly thanks to worries after US strikes in Iran.
Banking, oil and gas, and pharma stocks were hardest hit as investors stayed cautious.

Midcap and smallcap stocks edge higher

Even though the main indices slipped, midcap and smallcap stocks managed to edge up a bit.
Vinod Nair from Geojit Investments pointed out that rising crude prices and rupee losses fueled the volatility, but weekly crude prices are still lower, hinting things might calm down soon.

HDFC Bank, Axis Bank among losers

Top losers included HDFC Bank, Axis Bank, TCS, and Titan Company.
Meanwhile, Tech Mahindra, Maruti Suzuki, and Hindustan Unilever were among the few gainers as selective buying continued despite overall uncertainty.