Indian stock markets closed lower for the second straight session on Wednesday, June 18, as escalating tensions between Israel and Iran weighed on sentiment. Investor caution ahead of the US Federal Reserve’s policy decision also contributed to the subdued mood.
The Sensex ended 139 points, or 0.17 per cent, lower at 81,444.66, while the Nifty 50 settled at 24,812.05, down 41 points, or 0.17 per cent. The BSE Midcap and Smallcap indices fell 0.34 per cent each.
The across-segment selling dragged the overall market capitalisation of BSE-listed firms to nearly ₹446 lakh crore from ₹448 lakh crore in the previous session, making investors poorer by about ₹2 lakh crore in a single day.
Indian stock market: 10 key highlights from the day
1. Why did the Indian stock market extend losses to a second consecutive session?
The Indian stock market extended losses for the second consecutive session due to escalating tensions between Israel and Iran. Caution ahead of US Fed policy later today also kept sentiment sombre.
“The domestic market failed to maintain the opening gains as the continuing tensions in the Middle East and volatility in oil prices dragged the overall sentiment. Investors will keep an eye on the US Fed policy later today; the prospect of higher inflation due to the tariff threat may lead the FOMC to keep the rates unchanged,” said Vinod Nair, Head of Research, Geojit Investments Limited.
2. Top gainers in the Nifty 50 index
Shares of IndusInd Bank (up 4.69 per cent), Titan Company (up 2.15 per cent) and Trent (up 1.80 per cent) ended as the top gainers.
3. Top losers in the Nifty 50 index
As many as 36 stocks ended lower in the Nifty 50 index, with TCS (down 1.72 per cent), Adani Ports (down 1.57 per cent) and Hindustan Unilever (down 1.44 per cent) ending as the top losers.
4. Sectoral indices today
Most sectoral indices ended lower today, with Nifty Media (down 1.27 per cent), IT (down 0.83 per cent) and Metal (down 0.72 per cent) losing significantly.
On the other hand, Nifty Consumer Durables (up 0.79 per cent) ended as the top gainer among sectoral indices. Nifty Bank (up 0.21 per cent), Private Bank (up 0.39 per cent) and Auto (up 0.37 per cent) also ended higher.
5. Most active stocks in terms of volume
KBC Global (34.15 crore shares), Vodafone Idea (30.10 crore shares) and Vishal Mega Mart (14.85 crore shares) were the most active stocks in terms of volume on the NSE.
6. Five stocks jump more than 10% on NSE
Electronics Mart India, Aakash Exploration Services, Silly Monks Entertainment, Ahlada Engineers and Sakar Healthcare were the five stocks that jumped more than 10 per cent on the NSE.
7. Three stocks crash more than 10%
Ugro Capital Limited-RE, Orient Cement and KBC Global were the three stocks that crashed more than 10 per cent on the NSE.
8. 75 stocks hit upper circuits, over 80 hit lower circuits
As many as 75 stocks, including Reliance Infrastructure, Electronics Mart India, Aakash Exploration Services, GSM Foils and Sri Adhikari Brothers Television Network, hit their upper circuits in intraday trade on the NSE.
On the other hand, 83 stocks, including Camlin Fine Sciences, HCC, Sterlite Technologies and Hindustan Motors hit their lower circuits in intraday trade on the NSE.
9. Advance-decline ratio
The advance-decline ratio tilted towards the decliners.
Out of 4,115 stocks traded on the BSE, 1,532 advanced and 2,448 declined. Some 135 stocks remained unchanged.
10. Sensex, Nifty 50 outlook
According to Rupak De, Senior Technical Analyst at LKP Securities, on the upside, a decisive reclaim of 24,850 may trigger a rally towards 25,000 and higher, while a failure to move back above this level could drag Nifty down towards 24,500.
Shrikant Chouhan, the head of equity research at Kotak Securities, believes that as long as the market is trading below 24,800/81,400, the weak sentiment is likely to continue.
“On the downside, 24,725/81,250 would be the immediate support zones for traders. Below this, the market could slip to 24,500/80,600. On the flip side, above 24,900/81,850, the sentiment could change. If it moves above this level, it could rally up to 25,000-25,100/82,100-82,500,” said Chouhan.
Read all market-related news here
Read more stories by Nishant Kumar
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.
