Indian shares down after weekly gaining streak on monsoon worries

Persistent Systems

29/06/2026 08:01

** India's Nifty 50 .NSEI and Sensex .BSESN down 0.4% each
** Twelve of the 16 major sectors decline; small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 dip 0.7% and 0.6%, respectively
** The benchmarks had logged their logged third weekly gains, their longest such streak in 2026, in the previous session, aided by drop in crude to pre-Iran war levels and measures to support the rupee 
** U.S., Iran agreed to halt recent hostilities and renew talks, tempering concerns of escalation in the ongoing conflict
** Brent crude LCOc1 hovering around $72 a barrel
** While lower crude is positive for the economy and markets, the monsoon deficit at 43% as of Sunday threatens to weigh on the rural economy, keeping optimism in check, two analysts say    
**  IT .NIFTYIT drops 1%, dragged by Persistent Systems' PERS.NS 10% slide on concerns over its Nagarro SE acquisition 
** Kotak Mahindra Bank KTKM.NS slips 2.4% after CEO and MD Ashok Vaswani says he will not seek reappointment
    

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))