Indian stock markets ended the session on June 11 on a flat note, despite recording significant ups and downs during the day. Benchmark indices closed with muted gains, with Sensex ending the session 123 points higher at 82,515. Nifty 50 meanwhile rose 0.15 percent to close at 25,141.
The benchmarks however outperformed the broader markets, as the midcap and smallcap indices snapped multi-session gaining streak to close in the red. IT as well as oil and gas were top gaining sectors of the day, while PSU Banks and FMCG recorded the most losses.
Here is the list of stocks which witnessed the most significant ups and downs:
Liquor stocks:
Liquor stocks significantly fell after the Maharashtra government approved a significant hike in duty prices on Indian Made Foreign Liquor (IMFL). Allied Blenders & Distillers, Radico Khaitan, United Spirits, among others, took a sharp beating in trade, cracking up to 7% intraday.
Defence stocks:
Shares of defence companies including Garden Reach Shipbuilders & Engineers (GRSE), Bharat Dynamics Ltd (BDL) and Mazagon Dock Shipbuilders among others came under pressure on Wednesday, falling up to 5 percent amid profit-booking. This comes after a significant rally which was triggered by order hopes following 'Operation Sindoor'.
Bombay Stock Exchange (BSE):
Shares of BSE fell over 4 percent intraday, marking their steepest single-day fall in three weeks, after the stock was placed under the Additional Surveillance Measure (ASM) framework. The decline snapped a nine-session winning streak for the stock, which had rallied sharply in recent weeks. The move to place BSE under ASM was triggered by unusual price movement, high volumes, and concentrated client activity — parameters closely tracked by exchanges to curb speculative trading. Under the framework, trading in the stock will now require 100 percent margin, reported CNBC-TV18.
Small and midcap stocks:
The small and midcap indices sharply fell in the second half of the trading session on June 11, likely on profit booking, as shares catch breath after the recent rally that has several sessions of outperforming the benchmarks. The Nifty Smallcap index dropped nearly one percent, snapping a seven-day gaining streak to mark the first time in June when the index was in the red, after rising nearly 6 percent so far this month. The Nifty Midcap index fell 0.7 percent, breaking a five-day gaining streak that saw the index rise nearly 4 percent. Analysts have been flagging expensive valuations in the broader markets, even as the broader market indices have staged a smart rally from March lows.
Indian Energy Exchange (IEX):
Shares of Indian Energy Exchange (IEX) fell sharply by nearly 10 percent intraday as Centre is likely planning a stakeholder consultation on market coupling, bringing back jitters for the power exchange which has the largest market share in all the electricity traded on Indian exchanges.
Maruti Suzuki
Shares of Maruti Suzuki slipped 1% intraday after the company's electric pivot is encountering early roadblocks, with the launch of its much-anticipated e-Vitara likely to be pushed back, CNBC TV-18 reported, citing sources. This comes after China tightened export controls on rare earth magnets, a move seen as part of its strategic counter to US-led trade pressure under Donald Trump's administration.
Talbros Automotive
Talbros Automotive Components share price rose 6 percent intraday, extending gains on third consecutive session after the firm's JV has received orders worth Rs 580 crores for both domestic and exports market from the leading OEM’s. These orders are for gaskets, heat shields, forging components, chassis and hoses, and are to be executed over the period of next 5 years.
Reliance Industries:
Reliance Industries shares jumped around 1.6 percent intraday to trade at Rs 1,461 apiece, thus hitting their eight-month high. This came on the back of falling oil prices, and US Energy Information Administration's prediction that oil prices will fall further in the near term due to a rise in global inventories.
CreditAccess Grameen
CreditAccess Grameen shares surged over 3% intraday on securing $100 mn multi-currency syndicated social loan facility. The non-bank microfinance institution qualified as an External Commercial Borrowing (ECB) under the automatic route of the Reserve Bank of India (RBI).
GM Breweries
While most of the liquor stocks recorded significant losses, GM Breweries closed over 11% higher. This comes after Maharashtra introduced a new category, Maharashtra Made Liquor (MML), which will likely benefit the Mumbai-based company.
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