Indian Markets Dip Amidst Soaring WPI Inflation to 9.68%

Indian equity markets pulled back from their intraday highs in early afternoon trade, paring some gains despite positive Asian market trends. This moderation came as India’s wholesale price index (WPI) inflation surged to 9.68% in May 2026, driven by higher food and fuel prices.

Market Snapshot: Key Indices & Movers

The BSE Sensex is currently trading at 76452.82, up by 924.87 points (1.22%), after hitting a range of 76405.69 and 76821.07. The CNX Nifty is at 23899.60, up by 276.70 points (1.17%), trading between 23892.35 and 24011.40.

• Sensex: 25 stocks advanced, 5 declined.
• Nifty: 38 stocks advanced, 11 declined, 1 unchanged.

Top Sectoral & Stock Performances

Realty led sectoral gains on the BSE, rising 4.20%, followed by Auto (2.89%) and Consumer Disc (2.71%). Healthcare was the sole losing index, down 0.26%.

• Top Sensex Gainers: Trent (5.10%), Eternal (4.41%), Interglobe Aviation (4.21%).
• Top Sensex Losers: NTPC (1.31%), Sun Pharma (0.12%), ICICI Bank (0.11%).
• Top Nifty Gainers: Shriram Finance (5.35%), Trent (5.15%), Eternal (4.39%).
• Top Nifty Losers: NTPC (1.44%), ONGC (1.00%), Bajaj Auto (0.66%).

Inflation & Global Market Influences

India’s WPI inflation spike was attributed to higher food and fuel costs. Globally, Middle East tensions, including the US-Iran war, had inflated crude prices and impacted supply chains.

However, Asian markets traded higher across the board after the United States and Iran reportedly agreed to a deal, leading to a tumble in bond yields and oil prices.

• KOSPI: Up 4.94% to 8,545.98
• Nikkei 225: Surged 4.81% to 69,355.00
• Jakarta Composite: Gained 4.69% to 6,289.16
• Taiwan Weighted: Added 2.7% to 45,396.99
• Shanghai Composite: Strengthened 1.59% to 4,096.47
• Straits Times: Rose 1.12% to 5,081.96
• Hang Seng: Advanced 0.65% to 24,878.00

India-Switzerland Strengthen Economic Ties

In parallel, India and Switzerland held discussions focused on innovation and new investment opportunities, particularly for Swiss pharmaceutical companies in India’s growing healthcare and life sciences sector.

Commerce and Industry Minister Piyush Goyal met with Helene Budliger Artieda, State Secretary for Economic Affairs of Switzerland, and representatives from leading Swiss pharma and biotech firms. He also held a bilateral meeting with Guy Parmelin, President of the Swiss Confederation.

Discussions reaffirmed the strong partnership and commitment to strengthening economic engagement, investment flows, and the strategic India-EFTA Trade and Economic Partnership Agreement (TEPA).

Bilateral trade between India and Switzerland in 2024 stood at approximately $26.83 billion. Switzerland is a major global gold refining center, while India exports diverse goods including organic chemicals, textiles, and precious stones to the nation.