The Indian stock market witnessed an across-the-board selloff on Thursday, June 12, in sync with several of its global peers amid rising geopolitical tension, lingering tariff-related anxieties and growing concerns over the dimming global economic growth outlook.
The Sensex closed with a loss of 823 points, or 1 per cent, at 81,691.98, while the Nifty 50 settled 253 points, or 1.01 per cent, lower at 24,888.20. The BSE Midcap and Smallcap indices dropped 1.52 per cent and 1.38 per cent, respectively.
The sharp selloff in the Indian stock market made investors lose over ₹6 lakh crore in a single session as the cumulative market capitalisation of BSE-listed firms dropped to nearly ₹449.5 lakh crore from ₹455.6 lakh crore in the previous session.
Indian stock market: 10 key highlights from the day
1. Why did the Indian stock market fall today?
The Indian stock market suffered deep losses amid rising tensions in the Middle East and lingering trade war concerns. Deteriorating outlook of the global economic growth, stretched valuations of the domestic market, and the lack of fresh positive triggers seem to have prompted investors to take money off the table after recent gains.
“Consolidation in domestic markets is evolving into a broad-based trend, now extending to large-cap stocks. Valuation concerns and rising oil prices—driven by Middle East tensions—are fuelling risk aversion among investors,” Vinod Nair, Head of Research, Geojit Investments Limited, observed.
“Adding to the uncertainty, the US is considering unilateral tariff hikes on several key trading partners, with a decision expected within the next one to two weeks, ahead of an early July deadline,” Nair added.
2. Only 7 Nifty 50 stocks end in the green
Only seven stocks- Apollo Hospitals Enterprise (0.96 per cent), Asian Paints (up 0.73 per cent), Bajaj Finserv (up 0.46 per cent), Dr. Reddy’s Laboratories (up 0.38 per cent), Tech Mahindra (up 0.37 per cent), Wipro (up 0.05 per cent) and Oil & Natural Gas Corporation (up 0.01 per cent)- ended in the green in the Nifty 50 index.
3. Top Nifty 50 losers
Tata Motors (down 2.98 per cent), Titan Company (down 2.62 per cent) and Trent (down 2.62 per cent) were the top losers in the Nifty pack of stocks.
4. Sectoral indices today
Nifty Realty, Consumer Durables, Oil & Gas, Auto and Metal indices dropped up to 2 per cent.
Nifty Bank declined 0.67 per cent, while the PSU Bank index crashed 1.27 per cent and the Private Bank index fell 0.79 per cent.
5. Most active stocks in terms of volume
GTL Infrastructure (120.75 crore shares), Vodafone Idea (41.47 crore shares), and RattanIndia Power (24.78 crore shares) were the most active stocks in terms of volume on the NSE.
(This is a developing story. Please check back for fresh updates.)
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Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.
