Closing Bell: Nifty below 24,800, Sensex down 83 points; autos outperform

In the rangebound session, the Indian equity indices ended with marginal losses on June 19. At close, the Sensex was down 82.79 points or 0.10 percent at 81,361.87, and the Nifty was down 18.80 points or 0.08 percent at 24,793.25.

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.

The market continued to show choppy movement on Thursday and closed the day lower by 18 points. After opening with a negative note, Nifty made an attempt to move up in the early part of the session. It later shifted into a range movement with weak bias and finally closed at the lows.

A small negative candle was formed on the daily chart with minor upper and lower shadow. Technically this market action indicates choppy movement in the market. After the formation of series of higher tops in the last few weeks, Nifty seems to have formed a new lower top at 24982 on 17th June and is showing weakness from the lower highs.

Nifty is currently placed at the immediate support of 24700 and a slide below this support could bring Nifty towards next lower support of 24500-24400 levels in the short term. However, a sustainable move above the hurdle of 25000 could open a renewed buying enthusiasm in the market.

The Nifty witnessed a lackluster expiry on the NSE, as the index remained within a narrow range throughout the session, indicating indecisiveness ahead of any directional move. On the hourly chart, the index continues to trade below the 200-DMA, reflecting weak market sentiment. On the daily chart, it has slipped below the 21-EMA, further reinforcing the bearish outlook. This negative sentiment is likely to persist as long as the index remains below 24,850. On the downside, support is seen at 24,550.

Rupee traded weak at 86.68, down by 0.25, as rising crude oil prices and escalating Middle East tensions, including renewed US pressure on Iran’s nuclear program, weighed on sentiment. Additionally, the US Fed’s indication that rate cuts may be delayed by around six months supported the dollar, adding pressure on the rupee.

The expected trading range for the rupee is seen between 86.25 and 87.25.

Markets traded lacklustre on the weekly expiry day and ended almost flat amid mixed cues. The US Fed's decision to maintain the status quo, which was largely anticipated, failed to elicit any significant reaction. Following a flat start, the Nifty moved in a narrow range and finally settled at 24,793.25. Most sectors ended in the red, with realty, metal, and energy being the top losers. The broader indices underperformed, declining in the range of 1.6% to 1.9%.

The strength in the benchmark index does not reflect the underlying market tone, as we are witnessing gradual profit booking across sectors and in the broader market. With geopolitical tensions driving crude prices higher, further deterioration is likely if crude makes a sustained move above the $80 mark. We reiterate our cautious view and advise closely monitoring positions until we see further clarity.

Nifty50 remained range-bound throughout the trading session, ultimately closing at 24,793.25 with a marginal loss of 18.80 points. Among the sectors, Auto was the only one to end in the positive territory, while all the others closed in the red. PSU Banks and Media stocks were the major laggards. While the Benchmark Index showed limited movement, the real pain was visible in the broader markets, where Midcap and Smallcap segments experienced relentless selling pressure.

The formation of a DOJI candlestick pattern on the daily chart indicates an indecision between bulls and bears. The trading range is narrowed further, with immediate resistance now placed at 24,920 and support at 24,670.

The Indian equity index experienced rangebound movement with a negative bias as cautious sentiment spread across the globe, driven by concerns over potential U.S. involvement in the Middle East conflict. Investor mood was further affected by the Fed's decision to keep interest rates unchanged while signalling persistent inflation and slower economic growth, which weighed on software export stocks.

Broader market performance lagged the benchmark index, influenced by selling in mid- & small-caps, while better stability was noticed in large-cap growth stocks, keeping a close watch on crude oil prices and global development

Today, the Indian stock market closed lower, with the Nifty 50 slipping by around 0.07% to close near24,793 and the Sensex down by a similar margin to about 81,361 points. The market slipped into the red, pressured by a combination of global and domestic factors. The primary reasons for the lower closing were cautious signals from the U.S. Federal Reserve, which held interest rates steady but projected only two rate cuts by the end of 2025, alongside warnings of higher inflation, slower growth, and rising unemployment in the U.S. economy. These Fed signals dampened risk appetite globally, including in India.

Additionally, escalating geopolitical tensions in the Middle East added to the riskoff sentiment, further weighing on investor confidence. Elevated crude oil prices also pressured the market, as higher oil costs impact inflation and corporate margins negatively.

Looking ahead, market expectations remain cautious. Investors are likely to monitor global cues closely, especially geopolitical tensions. Domestic corporate earnings will influence near-term trends.

Indian rupee ended lower by 26 paise at 86.73 per dollar on Thursday against Wednesday's close of 86.47.

In the rangebound session, the Indian equity indices ended with marginal losses on June 19.

At close, the Sensex was down 82.79 points or 0.10 percent at 81,361.87, and the Nifty was down 18.80 points or 0.08 percent at 24,793.25. About 928 shares advanced, 2907 shares declined, and 133 shares unchanged.

Tata Consumer, Eicher Motor, M&M, Wipro, Dr Reddy's Laboratories were among major gainers on the Nifty, while losers were Adani Ports, Bajaj Finance, Shriram Finance, Tech Mahindra and Adani Enterprises.

Broader indices underperform the main indices with BSE Midcap and smallcap falling more than 1.5 percent each.

Among sectors, except auto, all other indices ended lower with IT, media, metal, realty, oil & gas, pharma, telecom and PSU Bank down 0.5-2 percent.

QIB – 0.31 times

NII - 0.99 times

Retail – 2.59 times

Overall – 0.99 times

#1 See slight improvement in revenue growth forecasts

#2 Thesis of 2 years of muted revenue CAGR remains intact

#3 Deal pipeline & commentary confirm weak discretionary & vendor consolidation opportunities

#4 Any rally should be used as a good opportunity to trim

#5 Downgrade Tech Mahindra to underweight, target price at Rs 1,575

#6 Upgrade Wipro to equal-weight, target price raised to Rs 265

#7 Within large caps like TCS, Infosys & Wipro over HCLTech, LTIMindtree & Tech Mahindra

#8 Within midcaps like Coforge & Mphasis over ER&D names

Indian Rupee declined on Thursday on strong US Dollar and rising crude oil prices. Mixed to weak domestic market also weighed on the rupee. Rising geopolitical tensions in the Middle East also pressurised the Rupee. The US Federal Reserve left interest rates unchanged, in line with street expectations.

We expect Rupee to trade with a negative bias as rising geopolitical tensions in the Middle East may pressure the domestic currency. Strong US Dollar and rising global crude oil prices may also put downside pressure on the Rupee. USDINR spot price is expected to trade in a range of Rs 86.50 to Rs 87.20.

Abbott India has announced a strategic distribution partnership with MSD Pharmaceuticals to expand access to MSD’s oral anti-diabetic portfolio in India, including sitagliptin and its fixed-dose combinations.

Under the agreement, Abbott will leverage its extensive distribution network to market MSD’s sitagliptin-based brands—Januvia, Janumet, and Janumet XR—which remain category leaders despite the loss of exclusivity.

The Sensex was down 72.34 points or 0.09 percent at 81,372.32, and the Nifty was down 18.15 points or 0.07 percent at 24,793.90. About 808 shares advanced, 2650 shares declined, and 101 shares unchanged.

The company has signed a Memorandum of Understanding (MoU) with Infineon Technologies (a global leader in semiconductor solutions) to jointly develop application-ready EV solutions tailored to the Indian market. The partnership strategically leverages design and integration expertise, enabling faster adoption of automotive-grade, cost-optimised, and safety-compliant subsystems across key mobility segments.

The Sensex was up 43.44 points or 0.05 percent at 81,488.10, and the Nifty was up 9.60 points or 0.04 percent at 24,821.65. About 682 shares advanced, 2747 shares declined, and 102 shares unchanged.

The US Food and Drug Administration (USFDA) has closed its GMP follow-up inspection at the company’s oncology injectable site at SEZ-1, Ahmedabad, with 2 observations, none of which were related to data integrity. The US health regulator conducted the inspection of the said site from June 9 to 18.

Indian rupee has extended the losses to test three months low at 86.83 per dollar against Wednesday's close of 86.47.

The share touched a 52-week high of Rs 652.90 and a 52-week low of Rs 454.55 on 26 August, 2024 and 03 March, 2025, respectively.

Currently, the stock is trading 22.42 percent below its 52-week high and 11.43 percent above its 52-week low.

Market capitalisation stands at Rs 12,109.37 crore.

The committee of the board of directors in its meeting held on June 19, 2025, has approved the Detailed Project Report (DPR) for setting up of new manufacturing facility of the Casting Division of the Company at Sambhaji Nagar, Aurangabad to carter the increasing demands of OEMs for casting parts in EV Vehicles.

The company has received Letter of Acceptance from Government of Guyana, Public Works Department for the Project viz.

‘East Bank-East Coast Road Linkage Project Phase 2 (Eccles to Providence)’.

The cost of the project is USD 67,250,000.

QIB – 0.14 times

NII - 0.73 times

Retail – 2.18 times

Overall – 0.67 times

The company is set to introduce VIDA VX2 with a subscription-based Battery-as-a-Service (BaaS) model, effective July 1. Along with a flexible pay-as-you-go ownership model, this BaaS subscription will allow customers to finance the scooter chassis and battery separately, reducing significant upfront capital expenditure into manageable monthly payments.

The Board has approved the company's proposal to sell Rs 735.18 crore worth of NPAs and written-off loans (Rs 362.43 crore NPAs and Rs 372.75 crore technically written off) to an Asset Reconstruction Company (ARC). The bank carries an overall provision of 90.15% on the above loan pool.

Starworth Infrastructure & Construction which is the wholly owned subsidiary of Puravankara, has received a Letter of Indent for civil and finishes works for the proposed residential apartment at “TRU AQUAPOLIS” in Varthur, Bengaluru for Tru Dwellings of Rs 272,02,00,000.

Optival Health Solutions Private Limited, a subsidiary of the company, has received four suspensions orders for a Drug Licenses for its stores.

The Sensex was down 38.08 points or 0.05 percent at 81,406.58, and the Nifty was down 25.55 points or 0.10 percent at 24,786.50. About 742 shares advanced, 2637 shares declined, and 107 shares unchanged.

The share touched a 52-week high of Rs 1,807.40 and a 52-week low of Rs 1,209.70 on 12 December, 2024 and 07 April, 2025, respectively.

Currently, the stock is trading 6.66 percent below its 52-week high and 39.46 percent above its 52-week low.

Market capitalisation stands at Rs 165,191.48 crore.

The share touched a 52-week high of Rs 271.60 and a 52-week low of Rs 144.25 on 06 February, 2025 and 23 July, 2024, respectively.

Currently, the stock is trading 26.47 percent below its 52-week high and 38.44 percent above its 52-week low.

Market capitalisation stands at Rs 2,582.53 crore.

Indian rupee has extended the intraday losses and trading lower at 86.70 per dollar against Wednesday's close of 86.47.

Despite prevailing market volatility, the mainboard IPO of Oswal Pumps received a robust response from investors, getting oversubscribed by over 34 times, with particularly strong interest from Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs). The response reflects strong institutional confidence in the company’s fundamentals and long-term growth trajectory, even amid near-term market uncertainty.

We believe this overwhelming demand was driven by attractive valuation levels, offering reasonable long term upside potential along with a well-diversified product portfolio across agriculture, industrial, and domestic water solutions. We also see company’s strategic positioning to benefit from ongoing government infrastructure and rural development initiatives, especially those focused on water management and irrigation.

Given the strong subscription demand and ongoing market sentiment, we anticipate a decent listing gain in the range of 10–15% for Oswal Pumps debut. The IPO saw significant oversubscription, reflecting confidence in the company’s fundamentals and valuation. We view Oswal Pumps as a compelling long-term investment opportunity, well-aligned with the government’s continued emphasis on rural electrification and promotion of solar-powered irrigation systems.

For Allotted investors: We advise a HOLD for the long term, as the company is well-positioned to benefit from structural growth drivers in the agri and infrastructure sectors.

For Non-allotted investors: Consider accumulating on any dips post-listing, particularly if broader market sentiment causes short-term volatility. The business offers a strong combination of sectoral tailwinds and value-based fundamentals.

QIB – 0.06 times

NII - 0.57 times

Retail – 1.94 times

Overall – 0.54 times

Sun Drops Energia, a subsidiary of KPI Green Energy Limited, has been awarded Letters of Award/Intent for the development of solar power projects with a cumulative capacity of 36.87 MW under our Captive Power Producer (CPP) business segment.

Among these, some projects will be developed in accordance with the Distributed Renewable Energy Bilateral Purchase (DREBP) Policy, as outlined in the Gujarat Renewable Energy Policy-2023 and GERC Tariff Order No. 5 & 6 of 2024.

The aggregate order size is 36.87 MW.

The company has announced an annual outage (maintenance shutdown) at its Rajahmundry manufacturing unit from July 8 to 21. The purpose of the outage is to carry out planned annual maintenance of equipment and utilities, replacement of obsolete equipment, and upgradation of machinery in line with the capital expenditure plan for the rebuild and upgrade of the pulp mill announced on August 26, 2022.

The Sensex was down 12.57 points or 0.02 percent at 81,432.09, and the Nifty was up 0.25 points or 0.00 percent at 24,812.30. About 928 shares advanced, 2388 shares declined, and 114 shares unchanged.

The board has appointed M S Unnikrishnan as an Additional Director of the company, effective June 25. The appointment is subject to shareholder approval at the 105th Annual General Meeting, scheduled for August 1. Previously, M S Unnikrishnan served as the Managing Director & CEO of Thermax Group.

The telecom operator has announced a strategic partnership with Nasdaq-listed AST SpaceMobile Inc to expand direct-to-device satellite broadband connectivity across India’s unconnected regions.

Markolines Pavement Technologies today announced the receipt of a contract amounting to Rs. 18.87 crore from Varanasi Aurangabad NH-2 Tollway Pvt. Ltd. As a part of the contract, Markolines Pavement will undertake execution of Rehabilitation, Overlay (BC) for periodic maintenance works at Varanasi Aurangabad NH-2 Tollway in Uttar Pradesh.

Jio Financial has acquired 7,90,80,000 equity shares of Jio Payments Bank from State Bank of India for Rs 104.54 crore, pursuant to the approval received from the Reserve Bank of India. Following this acquisition, Jio Payments Bank has become a wholly owned subsidiary of Jio Financial.

The share touched a 52-week high of Rs 324.55 and a 52-week low of Rs 225.05 on 23 January, 2025 and 07 April, 2025, respectively.

Currently, the stock is trading 18.86 percent below its 52-week high and 17.02 percent above its 52-week low.

Market capitalisation stands at Rs 276,035.58 crore.

The share touched a 52-week high of Rs 187.00 and a 52-week low of Rs 90.00 on 27 June, 2024 and 07 April, 2025, respectively.

Currently, the stock is trading 30.8 percent below its 52-week high and 43.78 percent above its 52-week low.

Market capitalisation stands at Rs 1,455.27 crore.

The share touched a 52-week high of Rs 2,156.35 and a 52-week low of Rs 1,050.20 on 16 September, 2024 and 07 April, 2025, respectively.

Currently, the stock is trading 40.22 percent below its 52-week high and 22.74 percent above its 52-week low.

Market capitalisation stands at Rs 14,314.26 crore.

#1 Company launched a Rs 4,500 crore QIP to repay debt, including OCDs issued to Goldman Sachs AIF

#2 Successful QIP will ease leverage, but scaling new biosimilars remains crucial for turnaround

#3 FDA approval & US launch of insulin as part is a key catalyst

Indian rupee is trading lower at 86.55 per dollar against Wednesday's close of 86.47.

The company is set to raise Rs 200 crore, as the Board has approved the issuance of up to 20,000 non-convertible debentures (NCDs) of face value Rs 1 lakh each, on a private placement basis.

AXISCADES Aerospace & Technologies has undertaken built-to-spec and built-to-print assignments on Test Benches for MBDA. AXISCADES has delivered multiple generations of Test Solutions towards MBDA’s MICA Missiles and Missile Launchers.

Besides, AXISCADES has also established facility and performing Depot Level Maintenance of Missile  Launchers. For the past ten years, AXISCADES has been engaged with MBDA as prime Indian Offset Partner.

MBDA and AXISCADES have decided to expand their domains of cooperation. AXISCADES already provides high-end engineering services to several top Aerospace OEMs and is a supplier of the Indian Ministry of Defence. Both companies will examine how these skills can be put to use for the benefit of MBDA.

#1 Company targets 25 percent sales CAGR over 5–10 years via store expansion, new categories & cost control

#2 Quick commerce & limited success of private grocery brands make us cautious on star format

#3 Supply chain tech investments could sharpen competitive edge in fashion

The Sensex was up 66.97 points or 0.08 percent at 81,511.63, and the Nifty was up 26.25 points or 0.11 percent at 24,838.30. About 1549 shares advanced, 1414 shares declined, and 135 shares unchanged.

Aditya Birla Fashion and Retail

Biocon

Birlasoft

Central Depository Services

Chambal Fertilisers and Chemicals

HUDCO

Manappuram Finance

RBL Bank

Titagarh Rail Systems

#1 Broader discretionary spending remains muted amid an uncertain macro

#2 Cost optimisation & vendor consolidation theme has picked-up

#3 BFSI, the mainstay of global IT services spending, continues to see strong demand

#4 Demand in most of the other verticals remains muted, particularly retail & auto

#5 Expect a V-shaped recovery in coming quarters while valuations remain attractive

#6 Hold only for LTIMindtree

The company has signed a Memorandum of Understanding (MoU) with Infineon Technologies (a global leader in semiconductor solutions) to jointly develop application-ready EV solutions tailored to the Indian market. The partnership strategically leverages design and integration expertise, enabling faster adoption of automotive-grade, cost-optimised, and safety-compliant subsystems across key mobility segments.

Abbott India has announced a strategic distribution partnership with MSD Pharmaceuticals to expand access to MSD’s oral anti-diabetic portfolio in India, including sitagliptin and its fixed-dose combinations.

Under the agreement, Abbott will leverage its extensive distribution network to market MSD’s sitagliptin-based brands—Januvia, Janumet, and Janumet XR—which remain category leaders despite the loss of exclusivity.