Indian equity indices ended marginally lower in yet another volatile session on June 19 with Nifty finishing below 24,800 amid selling across the sectors barring auto.
After a flat-to-negative start, the market witnessed a rangebound movement throughout the session amid mixed global markets after Fed held rates steady with projection of higher inflation and slower growth. The rising geopolitical tensions in the Middle East also weighed on investor sentiment.
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.
Broader indices underperformed the main indices with BSE Midcap and Smallcap falling more than 1.5 percent each.
Stocks & Sectors in Action
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.
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.
Also Read - Nifty IT sharply down on selloff after Fed's inflation, tariff view; Wipro sole gainer on upgrade
Index | Prices | Change | Change% |
---|---|---|---|
Sensex | 81,207.17 | 223.86 | +0.28% |
Nifty 50 | 24,894.25 | 57.95 | +0.23% |
Nifty Bank | 55,589.25 | 241.30 | +0.44% |
Biggest Gainer | Prices | Change | Change% |
---|---|---|---|
Tata Steel | 173.21 | 5.70 | +3.40% |
Biggest Loser | Prices | Change | Change% |
---|---|---|---|
Max Healthcare | 1,069.20 | -44.00 | -3.95% |
Best Sector | Prices | Change | Change% |
---|---|---|---|
Nifty Metal | 10277.10 | 184.15 | +1.82% |
Worst Sector | Prices | Change | Change% |
---|---|---|---|
Nifty Auto | 26753.10 | -15.55 | -0.06% |
Zydus Life shares slip as USFDA issues two observations for Ahmedabad facility, ESAF Small Finance Bank shares surged 5% as board approves to offload Rs 735 crore bad loan to ARC, MTAR Technologies rebounds 5% after securing 10-year contract with Weatherford.
80 stocks on the BSE touched their 52-week highs, including Axiscades Technologies, GRM Overseas, Steel Strips Wheel, Muthoot Finance, AU Small Finance Bank, among others. Click to View More
Global Markets
On Wednesday, the Wall Street ended mixed giving back earlier gains after Federal Reserve Chair Jerome Powell said inflation in goods prices is expected to go up over the summer as President Donald Trump’s tariffs work their way to consumers.
Outlook for June 20
Aditya Gaggar Director of Progressive Shares
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.
Ajit Mishra – SVP, Research, Religare Broking
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.
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.
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