Stock market ends lower amid selling in select heavyweights
At the close, the Sensex was 142 points, or 0.19%, lower at 75,867.80, while the Nifty 50 settled with a nominal loss of 7 points, or 0.03%, at 23,907.15.
The stock market extended its gains for the second consecutive day on Wednesday, with the Nifty crossing 25,200. The development comes amid positive cues with a fall in crude prices on tentative Iran-Israel ceasefire.
Benchmark indices opened higher and extended the gains as the day progressed to close near the day’s high level amid buying across the sectors.
Advertisement
At close, the Sensex was up 700.40 points or 0.85% at 82,755.51, and the Nifty was up 200.40 points or 0.80% at 25,244.75.
Advertisement
BSE Smallcap index outperformed, rising by 1.59%, while the Midcap index rose by 0.63%. The overall market capitalisation of BSE-listed firms rose to nearly ₹454 lakh crore from ₹450 lakh crore in the previous session.
Among the sectors, all the indices ended in the green with auto, consumer durables, IT, telecom, healthcare, and media up 1-2%.
Defence stocks dipped up to 4% and recorded strong losses amid the possibility of a ceasefire between Iran and Israel dampening investors’ hopes for higher order inflows. The sharp fall in the share prices pushed the Nifty Defence index down over 1.2%, extending losses for the second consecutive session.
On the BSE, around 100 stocks touched their 52-week highs. These included EID Parry, MCX India, Hyundai Motor, Max Financial, Home First Finance, Narayana Hrudayalaya, Bharti Airtel, AU Small Finance Bank, Max Financial, LT Finance, Aditya Birla Capital, Vishal Mega Mart, among others.
Shares of Titan Company topped the Nifty index with a gain of over 3%. Further, the stock price of Reliance Industries rose over a percent after Citi maintained its ‘buy’ rating on RIL, raising its target price to Rs 1,690 per share.
As per the data with the depositories, in June (till 24th), FPIs sold off Indian equities worth ₹3,243.18 crore in the cash segment, while DIIs bought Indian stocks for ₹67,587.67 crore.
In the previous session, FPIs sold Indian equities worth ₹5,266 crore in the cash segment. On the other hand, DIIs bought Indian equities worth ₹5,209.60 crore.
In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng settled higher.
European markets were trading on a mixed note in mid-session trade while the US markets ended significantly higher.
Advertisement
