On Tuesday, 1,496 stocks advanced, 2,794 declined and 176 remained unchanged on Bombay Stock Exchange with advance decline ratio of 0.53 indicating a negative closing. Asian markets came under sharp pressure today as investors continued to unwind crowded AI-related trades amid growing concerns over whether the massive AI spending cycle can justify current valuations. South Korea's benchmark KOSPI was hit particularly hard, plunging nearly 10%, as heavyweight AI memory-chip makers Samsung Electronics (-12.31%) and SK Hynix (-12.47%) fell more than 12% each. The sell-off had an outsized impact because the two companies together account for more than half of the KOSPI's market capitalization, making the index highly concentrated and vulnerable to any sharp correction in AI-linked stocks. The weakness spread across the region, with Japan's Nikkei 225 and Hong Kong's Hang Seng as investors reassessed AI-related growth expectations, rising interest-rate risks, and the sustainability of hyperscaler AI spending. The sell-off follows a broader global rotation out of high-growth technology names after concerns emerged that AI infrastructure spending may be peaking faster than expected. The trend of the major indices on Tuesday’s trading is given in the table below.
On NSE, 83 securities advanced and closed at a new 52-week high whereas 28 securities sank to close at their new 52-week lows. Nifty Metal, Nifty IT and Nifty PSU Bank were among the biggest losers. Nifty Pharma is the only gainer.
Tata Power (-1.88%) announced the extension of regulatory directions under Section 11 of the Electricity Act, 2003, for its Mundra Thermal Plant until September 30, 2026. This extension allows continued operation under the regulatory framework while Tata Power focuses on sustainable energy solutions.
Garden Reach Shipbuilders & Engineers (GRSE) (-2.04%) emerged as the lowest bidder for supplying a 15-ton electric bollard pull tug to Shyama Prasad Mukherjee Port, Kolkata, with an estimated contract value of ₹40 crore. The move supports SMPK’s initiative to adopt environmentally friendly vessels.
Grasim Industries (-0.97%) increased its stake in Aditya Birla Capital Limited by acquiring 8.09 crore shares for ₹2,879.99 crore via preferential issuance, raising its holding to 52.30%. The investment supports ABCL’s growth, loan repayments, and capital augmentation.
Interarch Building Solutions (+1.08%) secured new orders worth ₹375 crore in June 2026 across energy, hydrocarbon, farm equipment, and renewable sectors. Key projects include a ₹165 crore energy sector contract and four large industrial projects involving advanced steel structures.
Wipro (-3.16%) expanded its partnership with Palo Alto Networks to offer AI-driven Managed Detection and Response (MDR) services by integrating Cortex XSIAM with Wipro’s CyberShieldSM. The collaboration utilizes AI and automation for enhanced cyber threat detection and response.
Ircon International (-1.93%) and Badri Rai & Company JV won a ₹763.10 crore contract from Tripura State Electricity Corporation for an underground power cable network and smart grid system in Agartala. The 24-month project includes advanced distribution and communication systems.
Delhivery (-1.52%) partnered with Bajaj Auto to deploy 200 Bajaj RIKI eCarts in Tier-2 and Tier-3 cities for last-mile delivery. The eCarts feature efficient electric powertrains and aid in operational efficiency with automated route optimization, boosting earnings for delivery partners.
Ola Electric Mobility (+2.61%) became the first Indian company to obtain BIS certification for its indigenously developed 46100 LFP cylindrical cell, marking a milestone for battery manufacturing in India. The cell passed rigorous safety and performance tests at an accredited facility.
RailTel Corporation (-1.56%) order win from the Ministry of Railways valued at ₹334.52 crore involves upgrading e-Office systems with digital signature and eSign capabilities, scheduled for completion by June 2031. The contract excludes promoter or related party involvement.
The top gainers and top losers of the major indices are given in the table below:
The closing values of the major Asian indices are given in the table below:
