Indian stock market benchmarks- the Sensex and the Nifty 50- ended lower on Tuesday, June 17, on profit booking in select heavyweights, including HDFC Bank, Reliance Industries and Bajaj Finance amid weak global cues. The Sensex ended the day with a loss of 213 points, or 0.26 per cent, at 81,583.30, while the Nifty 50 closed at 24,853.40, down 93 points, or 0.37 per cent.
Mid-caps and small-caps segments underperformed. The BSE Midcap index fell 0.56 per cent and the Smallcap index declined 0.67 per cent.
The overall market capitalisation of BSE-listed firms dropped to nearly ₹448 lakh crore from nearly ₹450.5 lakh crore in the previous session, making investors poorer by over ₹2.5 lakh crore in a single session.
Indian stock market: 10 key highlights from the day
1. Why did the Indian stock market fall today?
The domestic market ended in negative territory amid heightened concerns over tensions between Israel and Iran. Investors also restricted their bets ahead of the US Federal Reserve’s policy decision on June 18.
“The benchmark equity index experienced moderate losses amid rising risk of an escalation of conflicts in the Middle East ahead of the FOMC meeting. This uncertainty pushed Brent crude prices higher—an unfavourable development for India, given its heavy reliance on oil imports, thereby dampening earnings growth,” Vinod Nair, Head of Research, Geojit Investments Limited, observed.
2. Top gainers in the Nifty 50 index
Only 11 stocks managed to end in the green in the Nifty 50 index among which Tech Mahindra (up 1.66 per cent), Infosys (up 0.87 per cent) and Asian Paints (up 0.86 per cent) ended as the top gainers.
One stock- Wipro- ended flat.
3. Top losers in the Nifty 50 index
Shares of Adani Enterprises (down 2.31 per cent), Eternal (down 2.06 per cent) and Dr. Reddy’s Laboratories (down 2 per cent) ended as the top losers in the Nifty index.
(This is a developing story. Please check back for fresh updates.)
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Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.
