Closing Bell: Tariff jitters push Nifty below 24,900, Sensex tanks 823 pts; all sectors in the red

Indian equity indices ended on a weak note with Nifty below 24,900 on June 12. At close, the Sensex was down 823.16 points or 1.00 percent at 81,691.98, and the Nifty was down 253.20 points or 1.01 percent at 24,888.20.

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.

Markets came under pressure on the weekly expiry day and lost over a percent, following a brief phase of consolidation. The session started on a positive note, but profit-taking in heavyweight stocks across sectors gradually dragged the index lower, with the decline accelerating in the latter half. As a result, the Nifty index closed near the day’s low at 24,888.20. In line with the benchmark trend, most sectors ended in the red, with realty, energy, and auto emerging as the top losers. The broader indices also bore the brunt, each shedding nearly 2%.

The sell-off was triggered by a combination of factors, including renewed geopolitical tensions between Israel and Iran, a rise in crude oil prices, and expiry-related pressure following the breakdown of a key support level. These developments have made market participants more cautious.

Technically, the Nifty has once again approached the support zone of its short-term moving average — the 20-day EMA — which currently lies around the 24,800 mark. A decisive break below this level could lead the index back into a consolidation phase.

Given the prevailing uncertainty, we recommend maintaining strict stop-losses in short-term trades, particularly in the midcap and smallcap space. It is also advisable to avoid aggressive long positions until a clearer directional trend emerges.

Today, the benchmark indices corrected sharply. The Nifty ends 253 points lower, while the Sensex was down by 823 points. Among sectors, all the major sectoral indices witnessed profit booking at higher levels, but the Capital Market index lost the most, shed over 3 percent. Technically, the market breached the crucial support level of 25,000/82000. Post-breakdown, selling pressure intensified. On daily charts, it has formed a long bearish candle, which supports further weakness from the current levels.

We are of the view that the short-term market texture is weak, but a fresh selloff is possible only after the dismissal of 24,825/81500 or below the 20-day SMA (Simple Moving Average). Below this level, the market could slip to 24,700-24650/81100-81000. On the other hand, above 24,920/81800, we could expect a quick intraday pullback rally up to 25,000-25,050/82000-82150.

Markets came under pressure on the weekly expiry day and lost over a percent, following a brief phase of consolidation. The session started on a positive note, but profit-taking in heavyweight stocks across sectors gradually dragged the index lower, with the decline accelerating in the latter half. As a result, the Nifty index closed near the day’s low at 24,888.20. In line with the benchmark trend, most sectors ended in the red, with realty, energy, and auto emerging as the top losers. The broader indices also bore the brunt, each shedding nearly 2%.

The sell-off was triggered by a combination of factors, including renewed geopolitical tensions between Israel and Iran, a rise in crude oil prices, and expiry-related pressure following the breakdown of a key support level. These developments have made market participants more cautious.

Technically, the Nifty has once again approached the support zone of its short-term moving average — the 20-day EMA — which currently lies around the 24,800 mark. A decisive break below this level could lead the index back into a consolidation phase.

Given the prevailing uncertainty, we recommend maintaining strict stop-losses in short-term trades, particularly in the midcap and smallcap space. It is also advisable to avoid aggressive long positions until a clearer directional trend emerges.

Nifty slipped sharply following a consolidation breakdown on the daily chart, indicating bearish pressure around the recent market top near 25,200. The index found support near the lower end around 24,850 and managed to hold above this level.

Despite the sharp fall, other technical conditions remain intact, suggesting that the broader trend is still strong and a short-term reversal is possible. However, a decisive break below 24,850 could weaken market sentiment. On the higher side, 25,000 is likely to act as immediate resistance.

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. IT, metals, and auto sectors have mostly underperformed.

Adding to the uncertainty, the U.S. 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.

Meanwhile, gold is witnessing a fresh leg of safe-haven buying, amid escalating geopolitical and economic risks.

It was a bear dominated day of trade. Following a muted start, the Index compounded its losses, and a sudden decline in the late afternoon session dragged it further lower to settle the trade at 24,888.20 with a loss of 253.20 points.

All the sectors concluded trade in the negative territory, with Realty and Energy being the major laggards. Mid and Smallcaps tumbled over 1.50% each, lagging the Frontline Index.

On the daily chart, Nifty50 has formed a strong bearish candle but managed to defend its 21DMA support.

A sustained move below 21DMA would pull the Index further down to 24,700, while on the higher side, the level of 25,080 will be considered as a strong barrier. The immediate support is placed at 24,830.

The Nifty 50 index breached the crucial 25,000 mark for the first time since June 5, hitting an intraday low of 24,826, as escalating global tensions and uncertain macroeconomic cues weighed heavily on investor sentiment. The sharp decline was fueled by rising geopolitical risks in the Middle East, with reports suggesting Israel is preparing to target Iran’s nuclear facilities within days. In response, Iran has threatened missile retaliation, stoking fears of a broader regional conflict that could disrupt global oil supplies and further roil financial markets.

Adding to the pressure, U.S. President Donald Trump’s renewed tariff threats—set to take effect from July 9—have re-ignited concerns over a potential global trade war.

Uncertainty surrounding retaliatory responses from China and other major economies has triggered volatility across Asian and U.S. markets, with spillover effects dragging down Indian equities.

On the domestic front, the weekly F&O expiry on June 12 intensified intraday volatility, as traders aggressively unwound positions amid the uncertain global backdrop.

Indian rupee ended lower at 85.60 per dollar on Thursday versus Wednesday's close of 85.51.

Indian equity indices ended on a weak note with Nifty below 24,900 on June 12.

At close, the Sensex was down 823.16 points or 1.00 percent at 81,691.98, and the Nifty was down 253.20 points or 1.01 percent at 24,888.20. About 1249 shares advanced, 2606 shares declined, and 134 shares unchanged.

Biggest Nifty losers were Tata Motors, Shriram Finance, Trent, Titan Company, Coal India, while gainers were Apollo Hospitals, Dr Reddy's Labs, Bajaj Finserv, Asian Paints, Tech Mahindra.

All the sectoral indices ended in the red with auto, Consumer Durables, FMCG, metal, IT, power, oil & gas, realty down 1-2 percent.

The BSE midcap index shed 1.5 percent and smallcap index down 1.3 percent.

#1 Management sees moderate H1, stronger H2; expects to outperform industry

#2 Surrender profit impact now largely mitigated

#3 Lower rates to boost non-par demand; ALM reduces sensitivity

#4 Focus remains on product profitability and HDFC Bank channel

Indian rupee is trading lower at 85.60 per dollar on Thursday versus Wednesday's close of 85.51.

The Sensex was down 721.90 points or 0.87 percent at 81,793.24, and the Nifty was down 231.40 points or 0.92 percent at 24,910.00. About 1083 shares advanced, 2419 shares declined, and 115 shares unchanged.

#1 Management laid out 4 levers that should drive growth & profitability beyond gRevlimid

#2 Growth in base business

#3 Significant upside from Semaglutide

#4 Company can still undertake acquisition of USD 2–2.5 billion; however, will remain selective & conscious of valuation

#5 Cost reduction – management can reduce spend by approx 500 bps to ensure EBITDA margins at approximately 25 percent

#1 Finance ministry denies MDR introduction on UPI

#2 Delay/no MDR is sentimentally negative for Paytm

#3 Builds in 1 Bp net margin upside from MDR or incentives

#4 Without either, FY26/27E adjusted EBITDA faces >10 percent downside risk

Cyient Semiconductors Private Limited, a fast-growing custom silicon company based in Hyderabad, and MIPS, a global leader in RISC-V processor IP, today announced a strategic collaboration to develop domain-optimized ASIC (application-specific integrated circuit) and ASSP (application-specific standard product) solutions that leverage the MIPS Atlas portfolio of advanced, efficient processor IP.

The Sensex was down 828.85 points or 1.00 percent at 81,686.29, and the Nifty was down 256.30 points or 1.02 percent at 24,885.10. About 1151 shares advanced, 2318 shares declined, and 105 shares unchanged.

Waaree Energies has signed and executed the Power Purchase Agreement (PPA) with Rewa Ultra Mega Solar Limited (RUMSL) and M.P. Power Management

Company Limited (MPPMCL) for the supply of 150 MW Solar power to MPPMCL.

#1 Ambition to grow data revenue from Rs 19,500 crore to Rs 28,000 crore by FY28

#2 Management’s target EBITDA margin is 23–25 percent & RoCE guidance is 25 percent

#3 Management commentary on growth implies an 18 percent EBITDA CAGR vs our CAGR forecast

#4 Tata Communications is working on monetising surplus land & highlighted a strong growth outlook for STT GDC’s data centre business

SEPC has received a Letter of Award from Parmeshi Urja Limited, Kolkata for EPC of 133 MW AC Solar Power Project at 26 locations in Maharashtra India for a consideration of Rs 650 crore.

1. Order received from ACG Universal Capsules Private Limited for supply, installation, testing & commissioning of Power Distribution System. The

delivery of the said goods/services shall be made over a period of 6-7 months.

2. Order received from Agratas Energy Storage Solutions Private Limited for supply & supervision during installation, testing & commissioning of Power

Distribution System. The delivery of the said goods/services shall be made over a period of 6-7 months.

3. Order received from DC Development Hyderabad Limited for Testing and Commissioning of Power Distribution System. The delivery of the said

goods/Services shall be made over a period of 3 months.

#1 Implied AUM growth in equity & hybrid funds is approximately 12 percent

#2 Valuations are near previous cycle peaks, but AUM growth looks muted

#3 Earnings may grow slowly; cautious view maintained despite structural tailwinds

The company has received a Purchase Order from one of the leading Infra and Defence Company for Supply of Armor Plate MIL12560 for a total consideration of Rs 23.33 crore.

Goods & Service Tax Department, Mumbai, Maharashtra, has served a notice for search & seizure operations at the office premises of the company at Nashik on June 11, 2025. The search operations is continued.

The board of directors of the company at its meeting held today i.e., June 12, 2025, has appointed Mr. Anand Balakrishnan as the Chief Financial Officer and Key Managerial Personnel of the company effective from June 12, 2025.

The board of directors has approved the sub-division/split of equity shares of the company from face value of Rs 10 each to face value of Rs 2 each, subject to the approval of regulatory/statutory authorities and the shareholders of the company at the extraordinary general meeting.

ICICI Bank has sold its entire shareholding of 18.8% in equity shares of NIIT Institute of Finance Banking and Insurance Training (NIIT-IFBI), an associate of the bank, to NIIT for Rs 6.11 crore. Consequently, NIIT-IFBI has ceased to be an associate of the bank.

The company, through its Global Services Business (the demerged business vertical), in consortium with Dilip Buildcon, has entered into an agreement with Bharat Sanchar Nigam Limited (BSNL) for a Rs 2,631.14 crore telecom project. The agreement pertains to the design, supply, construction, installation, upgradation, operation, and maintenance of the middle-mile network under BharatNet for the Jammu & Kashmir and Ladakh telecom circles – Package 13.

A meeting of the board of directors of the company will be held on Monday, June 16, 2025 at 4.00 p.m. wherein the Board will deliberate on the recommendation(s) of the investment banker made at the board meeting held earlier on the same day and adopt them in part or full.

The company has received the Establishment Inspection Report (EIR) from the US FDA for the inspection conducted at its API manufacturing facility in Ankleshwar. The US health regulator inspected the facility during March 10–14, and the inspection has been classified as No Action Indicated (NAI). The USFDA has concluded that this inspection is "closed."

#1 Max Health has embarked on a new journey to increase its bed capacity by 75 percent to 9,000 over the next 3-4 years from 5,100 beds currently

#2 Majority of new bed additions is through Brownfield expansion, which has faster breakeven timelines and provides superior growth visibility

#3 At the same time, Max will remain acquisitive, and management is confident about its strong execution track record

The Board of Directors of Kellton Tech Solutions is scheduled to meet on June 19 to consider raising funds through the issuance of equity shares, warrants, or other equity-linked securities. The board will also consider altering the share capital of the company by sub-division or split of existing equity shares.

The company has signed a long-term Master Purchase Agreement (MPA) with Japan-based Multinational Conglomerate, a global leader in fluorochemicals and advanced technology solutions.

The PSU lender has reduced its Marginal Cost of Funds Based Lending Rate (MCLR) across all tenures by 20 basis points, effective June 12.

The National Company Law Tribunal (NCLT), New Delhi, has approved the first motion application of the scheme of amalgamation. The NCLT also approved the amalgamation of Suzuki Motor Gujarat, a wholly-owned subsidiary, into and with Maruti Suzuki India.

Indian rupee erased all the opening gains and trading marginally lower at 85.55 per dollar on Thursday versus Wednesday's close of 85.51.

GMM Pfaudler’s subsidiary, Pfaudler GmbH, has completed the acquisition of a 51% stake in GMM Inox sp. z o.o., Poland.

Sea Lord Containers, wholly owned subsidiary of Aegis Logistics has commissioned its cryogenic Liquified Petroleum Gas (LPG) terminal at Mangalore for storage & terminalling of liquified petroleum gases with static storage capacity of 82,000 MT w.e.f. June 12, 2025.

Royal Orchid Hotels has given a breakout from a falling trendline on the daily timeframe, accompanied by a strong bullish candlestick and volume above the 20-day average, indicating renewed buying interest. The stock is trading above its 20, 50, and 100-day EMAs, highlighting a sustained bullish trend. Momentum remains firm, with the RSI at 64.61 and trending upwards, suggesting strengthening bullish sentiment and potential for further upside.

Target at Rs 423 and stop loss at Rs 386

Strides Pharma Science Ltd (STAR) has broken above its recent swing high and is currently trading in a Higher High, Higher Low formation on the daily timeframe, signaling a continuation of the uptrend. The stock formed a strong bullish candlestick in the latest session, backed by volume above the 20-day average indicating robust buying interest.

Technically, it remains firmly above the 20, 50, 100, and 200-day EMAs, reinforcing the prevailing bullish trend. Additionally, the RSI stands at 77.50, pointing to strong momentum and potential for further upside.

Target at Rs 905 and stop loss at Rs 849

Cyient Foundation, the CSR arm of Cyient, has signed a Memorandum of Understanding (MoU) with the All India Council for Technical Education (AICTE) to establish an innovation cluster in Visakhapatnam, Andhra Pradesh.

Under the MoU, the pilot program will focus on transforming higher education institutions in and around Visakhapatnam into vibrant hubs of innovation by fostering collaboration between academia, industry, startups, and investors.

The Sensex was down 301.28 points or 0.37 percent at 82,213.86, and the Nifty was down 82.20 points or 0.33 percent at 25,059.20. About 1554 shares advanced, 1738 shares declined, and 119 shares unchanged.

The PSU lender has reduced its Marginal Cost of Funds Based Lending Rate (MCLR) across all tenures by 20 basis points, effective June 12.

The Board of Directors of Kellton Tech Solutions is scheduled to meet on June 19 to consider raising funds through the issuance of equity shares, warrants, or other equity-linked securities. The board will also consider altering the share capital of the company by sub-division or split of existing equity shares.

#1 Pre-sales growth may rise 5 ppt YoY to more than 20 percent in FY26

#2 Q1 project launches support guidance, unlike patchy FY25

#3 Rate cuts aid mid/affordable housing and support valuations

#4 Despite the rally, property stocks trade near 5-year NAV averages

#5 Visible sales growth could drive rerating

The company has signed a License Agreement viz Lemon Tree Premier, Mhow, Madhya Pradesh. The property shall be managed by

Carnation Hotels Private Limited, a wholly-owned subsidiary of Lemon Tree Hotels.

#1 Maharashtra excise hike could hurt volumes, drive downtrading

#2State contributes 15 percent of USL sales

#3 Await clarity on duty hike for imported/local scotch

#4 Need more info on price hike needed to offset tax impact

Dhampur Sugar’s buyback is a timely value unlocking opportunity, and we view it as a tactical move for investors to benefit from near-term capital return while staying positioned for the broader sugar sector upcycle. With global supply tightening from major producers like Brazil and Thailand, and strong domestic demand driven by ethanol blending targets, the outlook for Indian sugar companies remains constructive.

Post buyback, we see merit in reallocating capital to well-managed names such as Balrampur Chini, EID Parry, and DCM Shriram, which are well-placed to capture value across both food and fuel use cases. The sector is entering a structurally favorable phase, and selective exposure can deliver strong medium-term returns.

RailTel Corporation of India has received the work order from South Eastern Coalfields Limited for amounting to Rs 11,94,89,669 (Including Tax).

The Sensex was down 190.61 points or 0.23 percent at 82,324.53, and the Nifty was down 52.80 points or 0.21 percent at 25,088.60. About 1545 shares advanced, 1541 shares declined, and 143 shares unchanged.

Central Depository Services

Indian Energy Exchange

Aditya Birla Fashion and Retail

Chambal Fertilisers and Chemicals

Hindustan Copper

Indian Renewable Energy Development Agency

RBL Bank

Titagarh Rail Systems

Ketan Shah has resigned from the role of Chief Sales and Revenue Officer – Assisted Business, as well as from the position of Whole-Time Director and Key Managerial Personnel of Angel One, including his roles on committees of the Board, due to personal reasons. His resignation will be effective from July 18.