Closing Bell: Nifty at 25,100, Sensex flat; smallcaps outperform

In the volatile session, the Indian equity indices ended on flat note with Nifty at 25,100. At close, the Sensex was down 53.49 points or 0.06 percent at 82,391.72, and the Nifty was up 1.05 points at 25,104.25.

We wrap up today's edition of the Moneycontrol live market blog, and will be back tomorrow morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.

After showing sharp upmove on 6th of June, the Nifty shifted into a consolidation with positive bias in the last couple of sessions. Nifty opened on a positive note on Tuesday, but was not able to sustain the highs and moved into a range bound action in the early part of the session. The choppy movement later continued till end of the session.

Small negative candle was formed on the daily chart. After breaking above the hurdle at 25000 levels, Nifty was not able to gather momentum to witness a decisive upside breakout on Tuesday.

Despite showing choppy movement in the short term, the near-term uptrend setup of Nifty remains positive and a sustainable move above 25200 levels could open the next upside towards 25600 levels in the near term. Immediate support is placed at 25000-24900 levels.

Markets traded in a lackluster manner and ended almost unchanged, taking a breather after the recent surge. Following an initial gap-up opening, Nifty quickly gave up its gains and moved in a narrow range for the rest of the session.

Meanwhile, a mixed trend persisted across sectors, with IT, pharma, and energy emerging as gainers, while realty and banking remained slightly on the back foot. The broader indices also paused after a strong spell of outperformance, closing the day on a flat note.

Participants remain slightly cautious amid mixed global cues, and the divergent trend among index heavyweights continues to weigh on overall sentiment. Amid this, we maintain our positive outlook and suggest adopting a “buy on dips” approach, with a strong emphasis on stock selection. We are seeing increased participation from sectors like auto, IT, and pharma, which were previously on the sidelines, now joining the uptrend on a rotational basis. Traders should align their positions accordingly.

Domestic equity benchmarks traded within a narrow range as investors adopted a cautious approach following the recent rally driven by favourable domestic macroeconomic indicators and concerns over stretched valuations. However, the overall sentiments remained on the positive side on account of optimism around U.S.-China trade negotiations. Additionally, a firm U.S. dollar acted as a tailwind for export-oriented sectors, particularly IT and Pharma, which attracted strong buying interest.

The Nifty has sustained above the previous consolidation zone on the daily timeframe, indicating a continuation of the uptrend. This positive sentiment is likely to persist and the sentiment favour long trades as long as the index remains above the key support level of 24,850. On the higher side, the index may move towards 25,350 in the short term, with the potential for an extended rally if it breaks decisively above 25,350. However, a fall below 24,850 could trigger a correction.

The rangebound trade ended at 25,104.25 with a minuscule gain of 1.05 points. Among the sectors, IT was the gainer, followed by Media and Pharma, whereas Realty and PSU Banks were the major laggards. Mid and Smallcaps ended the trade in positive territory and outperformed the Benchmark Index.

Nothing has changed in terms of trend and levels for Nifty50, i.e. it is still above its strong congestion, but not with a very encouraging candle.

A strong bullish candle is necessary to confirm a breakout. The key resistance and support levels are currently placed at 25,220 and 25,000, respectively.

Rupee traded flat to positive near 85.67 as last week's RBI’s 0.50% rate cut with overall 100bps adds liquidity offsetting pressure from rising crude oil prices over the past week.

The US CPI data due this week will be a key driver for the dollar index, with the rupee expected to remain range-bound between 85.25 and 86.

Indian rupee ended flat at 85.62 per dollar on Tuesday versus Monday's close of 85.63.

In the volatile session, the Indian equity indices ended on flat note with Nifty at 25,100.

At close, the Sensex was down 53.49 points or 0.06 percent at 82,391.72, and the Nifty was up 1.05 points at 25,104.25. About 2160 shares advanced, 1723 shares declined, and 136 shares unchanged.

Top Nifty gainers were Grasim Industries, Dr Reddy's Labs, Tech Mahindra, Tata Motors, Infosys, while losers were Trent, Asian Paints, Bajaj Finance, Tata Steel, Bajaj Finserv.

On the sectoral front, realty index shed 1 percent, while IT index rose 1.7 percent, Media index added 1 percent and Power index gained nearly 1 percent.

The BSE midcap index ended flat, while BSE smallcap index was up 0.3 percent.

Indian Rupee traded with a slight positive bias on declining US treasury yields and FII inflows. Optimism over talks between US and China led to rise in risk appetite in global markets. However, a positive US Dollar and rising crude oil prices capped sharp gains.

We expect Rupee to trade with a slight negative bias on positive US Dollar index and rising crude oil prices. However, positive tone in the domestic markets and foreign inflows may support the Rupee at lower levels. Investors may watch out for CPI data from the US this week. USDINR spot price is expected to trade in a range of Rs 85.35 to Rs 86.

The company clarified on media reports reports about potential stake sale of RCB, are speculative in nature and it is not pursuing any such discussions.

The Sensex was down 38.11 points or 0.05 percent at 82,407.10, and the Nifty was up 0.35 points at 25,103.55. About 1946 shares advanced, 1603 shares declined, and 113 shares unchanged.

The company has secured a contract worth Rs 893 crore for the construction of a berth and breakwater for the development of greenfield captive jetty(s) in Odisha.

“As per the latest AMFI data, equity mutual fund net inflows dropped by 28% to ₹19,013 crore in May 2025, compared to ₹24,269 crore in April 2025. However, the gross inflows remained nearly in line with those of the previous month, indicating a positive underlying trend. The slowdown in net equity inflows can be attributed to several factors, including a rise in equity market performance in May 2025, and a potential phase of consolidation or profit booking by investors. Additionally, rising global volatility—triggered by geopolitical tensions following India’s launch of Operation Sindoor against Pakistan and ongoing concerns over global inflation—fuelled a risk-off sentiment among certain investors.”

The Sensex was up 0.15 points at 82,445.36, and the Nifty was up 24 points or 0.10 percent at 25,127.20. About 1905 shares advanced, 1601 shares declined, and 116 shares unchanged.

Sanjay Kumar Bohra has resigned as Chief Financial Officer (CFO) of the company, effective June 9.

The Board has appointed Rishi Luharuka as the Chief Financial Officer of the company, designated as 'Group CFO', effective June 10.

Sanjeev Kumar Panchal has offered to resign as the Managing Director of the company, effective June 30, as he will be taking up a global role within the AstraZeneca Group, based in Gaithersburg, Maryland, US.

The Board has appointed Praveen Rao Akkinepally as an Additional Director and the Managing Director of the company, effective July 1.

Promoter Andrew Yule and Company will be selling up to 2% stake (or 3.48 lakh shares) in Veedol Corporation via offer-for-sale (OFS) on June 10-11.

The OFS opened for non-retail investors on June 10 and will open for retail investors on June 11. The floor price has been fixed at Rs 1,566 per share.

The Committee of Creditors of the Corporate Debtor has approved, with the requisite majority, the extension of time for submission of resolution plans until June 24, 2025, following requests from several Prospective Resolution Applicants (PRAs) for an extension of the current deadline of June 9.

Emami-owned leading men’s grooming brand The Man Company, has partnered with Unicommerce to streamline its e-commerce operations and power quick commerce fulfilment for its premium range of grooming products for men’s care.

The company has received a work order valued at approximately Rs 100 crore from the Bima Sugam India Federation (BSIF). The company will serve as the technology solution provider for the end-to-end development, implementation, support, and maintenance of the Bima Sugam Marketplace, platform integrations, and marketplace protocols.

Markolines Pavement Technologies has received two orders totalling to Rs 16.76 crores from Vadodara Kim Expressway Pvt. Ltd. As a part of the contract, the company will undertake restoration work for areas damaged by rainwater runoff at its project site. Both the orders will be executed by July 31, 2025.

While equity inflows moderated in May, investor confidence remains strong with SIP contributions holding steady. The dip in large-cap and flexi-cap inflows reflects near-term caution, but attractive valuations in large-caps could lead to renewed interest. Mid- and small-cap flows have also eased slightly, though long-term investor appetite for these segments remains intact. What’s particularly encouraging is the rise in hybrid categories—especially arbitrage, BAFs, and multi-asset funds—indicating that investors are using these as strategic tools to stay invested while managing short-term volatility.

Arbitrage funds, in particular, are being seen as a safe space to temporarily park funds ahead of further deployment.

Overall, investors appear to be making balanced and thoughtful allocation decisions across asset classes, aligned with their risk appetite and investment horizons.

The Sensex was up 51.19 points or 0.06 percent at 82,496.40, and the Nifty was up 33.75 points or 0.13 percent at 25,136.95. About 1930 shares advanced, 1529 shares declined, and 133 shares unchanged.

The company has opened its Qualified Institutions Placement (QIP) issue for subscription on June 9, with a floor price of Rs 153.93 per share. According to CNBC-TV18, quoting sources, the size of the QIP may be up to Rs 2,000 crore, including an upsize option of Rs 500 crore.

The company has received the EIR report from the USFDA for the inspection conducted at its API manufacturing facility located at Dabhasa near Vadodara.

This facility underwent an inspection from 21st to 25th April 2025 and has been classified as Voluntary Action Indicated (VAI). FDA confirmed the inspection as “closed”.

The company has received consent to operate from West Bengal Pollution Control Board, pursuant to which the Company is commencing the commercial production of a new product viz. Aluzinc line at its plant situated at Bhuniaraichak, Jhikurkhali, Haldia, Purva Mednipur, West Bengal- 721635 with effect from 10™ June, 2025 with a capacity of 1,10,200 TPA.

With these additions, CPIL has now successfully established 50 CNG stations in Bangalore -halfway toward target of 100 stations.

HCLTech launched a managed Secure Service Edge (SSE) solution developed with Cisco to enhance enterprise security and improve cyber incident response times.

16 lakh shares (0.21 percent equity) worth Rs 634 crore change hands at an average of Rs 4,000/share via block deal.

RateGain Travel Technologies (RateGain) announced a new partnership with LIAT (2020) Limited — the Caribbean’s regional airline reconnecting island economies — to implement AirGain by RateGain.

Jana Small Finance Bank has submitted an application to the Reserve Bank of India (RBI), seeking approval for its voluntary transition from a small finance bank to a universal bank.

The Sensex was up 75.33 points or 0.09 percent at 82,520.54, and the Nifty was up 45.15 points or 0.18 percent at 25,148.35. About 2014 shares advanced, 1405 shares declined, and 124 shares unchanged.

OneSource Specialty Pharma announced that its flagship facility in Bangalore, India, has received a "Voluntary Action Indicated" (VAI) classification from the US Food and Drug Administration (USFDA), confirming its continued compliance.

Following an inspection of the company's flagship facility from March 20 to March 28, 2025, the USFDA issued a Form 483 with four observations.

Based on the company's comprehensive response and commitments, the agency has classified the inspection outcome as Voluntary Action Indicated (VAI), officially closing the inspection.

The company, along with IRB Infrastructure Trust, has reported an 8.5% growth in toll collections for the month of May, reaching Rs 581.2 crore, compared to Rs 535.5 crore in the same period last year.

#1 Total AUM at Rs 72.2 lakh crore Vs Rs 70 lakh crore (MoM)

#2 Large Cap Fund Inflow at Rs 1,250.5 crore Vs Rs 2,671.46 crore inflow (MoM)

#3 Small Cap Fund Inflow at Rs 3,214 crore Vs Rs 3,999.95 crore inflow (MoM)

#4 Midcap Fund Inflow at Rs 2,808.7 crore Vs Rs 3,313 crore inflow (MoM)

The company has entered into a Licensing Agreement with the Defence Research and Development Organisation (DRDO), Ministry of Defence, India, for the transfer of technology related to the modular bridging system of various lengths, ranging from 14m to 46m.

Under the terms of the agreement, the company is licensed to manufacture this critical system in India and sell it within specified licensing regions for a period of 10 years.

This includes exclusive rights to supply the system to the Indian Armed Forces and other government agencies.

The Sensex was down 35.42 points or 0.04 percent at 82,409.79, and the Nifty was up 9.40 points or 0.04 percent at 25,112.60. About 2069 shares advanced, 1265 shares declined, and 127 shares unchanged.

In the month of May 2025, the consolidated orders received by the company are worth Rs 36 crore out of which orders worth Rs 15 crore are for projects in India and orders worth Rs 21 crore are for projects outside India.

As on 1st June 2025 the total consolidated order book position of the company is Rs 827 crore out of which orders worth Rs 296 crore are for projects in India and orders worth Rs 531 crore are for projects outside India.

The Power Transmission & Distribution (PT&D) business vertical of Larsen & Toubro has won new grid infrastructure orders in India and abroad.

In India, it has won an order to build 765kV and 400kV transmission line jobs pertaining to the integration of a Renewable Energy Zone in Andhra Pradesh.

In the Middle East, the business has received orders to execute a set of 220kV and 132kV Gas Insulated Substations on turnkey basis. These orders come from leading transmission asset owners and operators in the respective countries.

The company has received a work order valued at approximately Rs 100 crore from the Bima Sugam India Federation (BSIF). The company will serve as the technology solution provider for the end-to-end development, implementation, support, and maintenance of the Bima Sugam Marketplace, platform integrations, and marketplace protocols.

The company has secured a contract worth Rs 893 crore for the construction of a berth and breakwater for the development of greenfield captive jetty(s) in Odisha.

The board of directors of the company in its meeting held on June 9, 2025 approved to incorporate a step-down subsidiary in United Arab Emirates (UAE) an to enter into JV agreement between Jindal Saw Holdings FZE (JSH), a subsidiary of the company and BUHUR FOR INVESTMENT COMPANY LLC, KSA (Buhur) for incorporating a new Company in Kingdom of Saudi Arabia (KSA).

Also, approved to enter into JV agreement between Jindal Saw Holdings FZE (“JSH”), a subsidiary of the company and RAX United Industrial Company, KSA for incorporating a new Company in Kingdom of Saudi Arabia (KSA).

Morgan Stanley upgrades stock to overweight from equal weight, target Rs 3,500

The Sensex was up 30.73 points or 0.04 percent at 82,475.94, and the Nifty was up 25.55 points or 0.10 percent at 25,128.75. About 1990 shares advanced, 1155 shares declined, and 145 shares unchanged.