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HomeNewsBusinessMarketsTaking Stock: Market ends flat amid volatility; auto, pharma, midcap indices up 1% each

Taking Stock: Market ends flat amid volatility; auto, pharma, midcap indices up 1% each

NTPC, Reliance Industries, TCS, Power Grid Corporation, and Coal India were among the top losers on the Nifty.

June 26, 2023 / 16:00 IST
The BSE midcap index rose 1 percent and smallcap index added 0.7 percent.

In a volatile session on June 26, the Indian benchmark indices ended with little change with Sensex closing at 62,970, down 9.37 points, while the Nifty rising 25.70 points or 0.14% to end at 18,691.20.

Amid mixed global cues, the market opened with minor gains but witnessed a lackluster session during the day. However, buying in the metal, auto, pharma, and FMCG stocks helped to erased intraday losses.

Stocks and sectors

NTPC, Reliance Industries, TCS, Power Grid Corporation, and Coal India were among the top losers on the Nifty, while gainers included Cipla, Hero MotoCorp, Adani Enterprises, Tata Consumer Products, and Divis Laboratories.

On the sectoral front, auto and pharma were up 1 percent each, while FMCG and metal indices saw gains of 0.5 percent each.

The BSE midcap index rose 1 percent and smallcap index added 0.7 percent.

A long build-up was seen in Multi Commodity Exchange of India, Aditya Birla Capital and Metropolis Healthcare, while a short build-up was seen in Shree Cements, Apollo Tyres and SBI Cards & Payment Services.

Among individual stocks, a volume spike of more than 400 percent was seen in BHEL, Shree Cement and Sun Pharma.

IndexPricesChangeChange%
Sensex85,063.34-376.28 -0.44%
Nifty 5026,178.70-71.60 -0.27%
Nifty Bank60,118.4074.20 +0.12%
Nifty 50 26,178.70 -71.60 (-0.27%)
Tue, Jan 06, 2026
Biggest GainerPricesChangeChange%
Apollo Hospital7,348.00265.00 +3.74%
Biggest LoserPricesChangeChange%
Trent4,047.60-382.20 -8.63%
Best SectorPricesChangeChange%
Nifty Pharma23126.80383.40 +1.69%
Worst SectorPricesChangeChange%
Nifty Infra9611.60-115.05 -1.18%

More than 100 stocks touched their 52-week high on the BSE, including HCL Technologies, Aurobindo Pharma, Force Motors, Surya Roshni, Trent, Landmark Cars, Angel One, SJVN, Talbros Automotive Components, Wonderla Holidays, V-Guard Industries.

Outlook for June 27

Shrikant Chouhan, Head of Research (Retail), Kotak Securities

Weak Asian and European cues dampened the domestic market sentiment, as benchmarks ended mixed in a range-bound session amid selective buying in key sectoral stocks. Global markets are dictating trends back home and investors don't want to be in a hurry to take long positions in times of high uncertainty.

Technically, after a short-term correction the index witnessed range bound activity near 18650 or 20-day SMA (Simple Moving Average) important support level. For day traders, 18725 would be the key resistance level while 18650 could be the crucial support zone. Above 18725, a fresh uptrend rally could be seen till 18800-18820. On the flip side, below 18650 selling pressure is likely to accelerate and could slip till 18600-18550.

Deepak Jasani, Head of Retail Research, HDFC Securities

Nifty remained in a 76 point range on June 26 and repeatedly rose and fell before closing mildly in the positive. At close, Nifty was up 0.14% or 25.7 points at 18691.2. Volumes on the NSE were lower than recent average. Broad market indices closed higher than the Nifty even as the advance decline ratio remained positive at 1.31:1.

Global shares were mostly lower, while gold rose after an aborted uprising by Russian mercenaries raised questions about the authority of President Vladimir Putin and as a sharp decline in financial stocks more than offset gains in the energy sector on concerns about political instability in top oil producer Russia.

Nifty did not follow through on the downside post the bearish formation on weekly charts. It could now show a small bounce before correcting again. 18646 and later 18555 could provide support while 18756-18771 band could provide resistance in the near term.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Rakesh Patil
first published: Jun 26, 2023 03:52 pm

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