Sensex, Nifty 50 extend losses to second consecutive session— 10 key highlights from Indian stock market today
Indian stock market benchmarks — the Sensex and the Nifty 50 — closed in the red on Friday, June 13, extending losses for the second consecutive session amid heightened tensions between Israel and Iran and lingering uncertainty over US tariffs.
The Sensex ended the day with a loss of 573 points, or 0.70 per cent, at 81,118.60, while the Nifty 50 fell 170 points, or 0.68 per cent, to 24,718.60. The BSE Midcap and Smallcap indices closed 0.32 per cent and 0.30 per cent lower, respectively.
Volatility index India VIX jumped 7.59 per cent to 15.08, indicating elevated nervousness among market participants.
Indian stock market: 10 key highlights from the day
1. Why did the Indian stock market fall?
Israel’s military strike on Iran spooked investors, while foreign capital outflow amid stretched valuations of the domestic market also kept the market down.
A sharp jump in crude oil prices, the rupee’s fall against the US dollar and persisting uncertainty about the US tariffs also contributed to the market downtrend.
“Indian equity benchmarks experienced downward pressure, driven by weak global cues and foreign institutional outflows. Market sentiment was notably impacted by heightened geopolitical tensions following Israel’s military strike on Iran, which significantly increased risk aversion among investors,” said Vinod Nair, Head of Research, Geojit Investments.
2. Top gainers in the Nifty 50 index
Bharat Electronics (BEL) (up 2 per cent), ONGC (up 1.28 per cent) and Tech Mahindra (up 0.83 per cent) ended as the top gainers in the Nifty 50 index.
One stock- Shriram Finance- ended flat.
3. Top losers in the Nifty 50 index
As many as 38 stocks ended in the red in the Nifty 50 pack, with Adani Ports and Special Economic Zone (down 2.27 per cent), ITC (down 1.67 per cent) and SBI (down 1.57 per cent) ending as the top losers.
4. Sectoral indices today
Most sectoral indices ended in the red, with banking and financial sectors losing significantly.
Nifty Bank, Financial Services, PSU Bank and Private Bank indices lost about a per cent each
Nifty FMCG and Metal (down 0.96 per cent) indices also lost by a per cent.
On the other hand, Nifty IT, Realty and Healthcare indices ended flat.
5. Most active stocks in terms of volume
Vodafone Idea (46.91 crore shares), GTL Infrastructure (42.6 crore shares) and KBC Global (22.50 crore shares) were the most active stocks in terms of volume on the NSE.
6. Six stocks jump more than 10% on NSE
Raj Oil Mills, Shah Metacorp, and Shipping Corporation of India were among the six stocks that rose more than 10 per cent on the NSE.
7. 80 stocks hit lower circuits, over 50 hit upper circuits
As many as 80 stocks, including Websol Energy System, AXISCADES Technologies, Valiant Organics, Dharmaj Crop Guard and Anik Industries, hit their lower circuits in intraday trade on the NSE.
On the other hand, 54 stocks, including Zen Technologies, Unimech Aerospace and Manufacturing and Indef Manufacturing, hit their upper circuits on the NSE.
8. Advance-decline ratio
The advance-decline ratio tilted towards the decliners.
While 1,059 stocks advanced, as many as 1,824 declined, and 81 remained unchanged on the NSE.
9. 80 stocks hit their 52-week highs
As many as 80 stocks, including Muthoot Finance, Max Healthcare Institute, Manappuram Finance, JK Cement and AstraZeneca Pharma India, defied weak market sentiment and hit their 52-week highs in intraday trade on the BSE.
On the other hand, 57 stocks, including Aditya Birla Fashion and Retail, Jai Balaji Industries and Protean eGov Technologies, hit their 52-week lows during the session.
10. Technical outlook for Nifty 50
According to Rupak De, Senior Technical Analyst at LKP Securities, the recovery could gain traction if the Nifty 50 sustains above the 24,700 level.
“On the upside, the index may move towards 25,000 in the short term. Conversely, a decisive fall below 24,700 could trigger renewed bearish bets in the market,” said De.
Praveen Dwarakanath, Vice President of Hedged.in, said the Nifty is likely to continue its rangebound move between the 24,500 and the 25,200 until a significant break of one of these levels is seen.
“With today’s drop, the momentum indicators have picked up momentum from the oversold region, indicating upside potential in the index. The index took support also from the lower Bollinger band, suggesting a recovery toward its resistance at the 25,200 level,” said Dwarakanath.
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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.
