Markets closed on a strong note on Monday, June 16, brushing aside geopolitical concerns despite escalating tensions in West Asia.
Top Nifty losers were Adani Enterprises, Dr Reddy's Labs, Sun Pharma, Eternal, ONGC, while gainers were Tech Mahindra, Infosys, Asian Paints, TCS, Maruti Suzuki. Except IT, all other sectoral indices ended in the red with pharma, metal, oil & gas, auto, realty, PSU Bank down 0.5-2 percent. The BSE midcap and smallcap indices shed 0.5 percent each.
All the sectoral indices ended in the green with bank, FMCG, Capital Goods, Consumer Durables, IT, metal, realty, oil & gas up 0.5-1 percent.
Any long-term investor can use this risk-off scenario to buy relatively attractively valued stocks like financials, noted experts.
Gold rate today: Gold's August contracts on the Multi Commodity Exchange of India (MCX) hit an all time high level of Rs 1,01,708 per 10 grams today.
India VIX declined 2.12 percent to 14.76 on Monday, indicating a fall market volatility.
India's equity benchmarks rose after a muted start on Monday, supported by gains in IT and financial stocks
In m-cap terms, the BSE midap index lost Rs 1.23 lakh crore and the smallcap index lost 1.26 lakh crore, since June 10.
Gold prices today: Gold's August futures of the MCX hit a fresh all-time high of Rs 1,01,078 per 10 grams today.
India VIX fell 2.52 percent to 14.70, indicating a further easing in market volatility.
Benchmark indices extended losses for a second session, weighed down by escalating Middle East tensions and persistent trade uncertainties that shook investor confidence.
Biggest Nifty gainers included SBI Life Insurance, UltraTech Cement, Bharat Electronics, HDFC Life, ONGC, while losers were Tata Motors, Dr Reddy's Laboratories, Adani Ports and Sun Pharma. All the sectoral indices ended in the green with IT, metal, realty, oil & gas up 1 percent each. The BSE midcap index added 0.9 percent and smallcap index rose 0.4 percent.
Trade tensions remain a key risk despite a provisional US-China trade truce reached in London. Markets await formal confirmation from Presidents Trump and Xi. Meanwhile, negotiations with the EU, India, Japan, and other partners are still ongoing.
Except media, all other sectoral indices ended in the red with FMCG, PSU Bank, oil & gas, power, telecom down 0.5-1 percent. The broader indices outperformed the main indices with the BSE midcap and smallcap indices falling 0.3 percent each.
India VIX, the barometer to assess market anxiety, surged 7.56 percent to 15.08, signalling heightened market volatility.
Gold rate today: Gold's August contracts on MCX hit an all time high level of Rs 1,00,403 per 10 grams today.
Mid, Smallcap indices saw sharp recovery by noon after crashing over 2 percent, mirroring the sell-off in the benchmark indices.
Broader markets, too, remained under pressure, with the Nifty Midcap 100 slipping 0.46 percent and the Smallcap 100 easing 0.45 percent.
Gold prices today: Gold's August contracts hit a fresh lifetime high of Rs 1,00,403 per 10 grams, while the contracts with October expiry hit an all time high of Rs 1,01,295 per 10 grams on the MCX.
Over 41 percent respondents in the Moneycontrol market poll rated geopolitics as the single-largest risk facing Indian equities, ranking it higher than tariff war, earnings slowdown and expensive valuations.
Sensex, Nifty crashed on weak global cues and a spike in crude oil prices following Israel’s strikes on Iran. Continuous FII selling also added to pressure.
PSU Bank, Smallcap 100, and Nifty Auto led the declines, slipping 1.60 percent, 1.53 percent, and 1.49 percent, respectively.
Foreign institutional investors (FIIs) and foreign portfolio investors (FPIs) offloaded shares worth Rs 3,831 crore, while domestic institutional investors (DIIs) made net purchases of Rs 9,393 crore on June 12.
Except media, all other sectoral indices ended in the red with FMCG, PSU Bank, oil & gas, power, telecom down 0.5-1 percent. The BSE midcap and smallcap indices ended in the red.
Gold rate today: Gold's August contracts on the MCX were trading at Rs 98,239 per 10 gram today.