Sensex, Nifty close lower on market trading
New Delhi, June 30: Indian benchmark indices ended lower today after a volatile trading session, with sustained selling in Information Technology stocks weighing on the headline indices even as the broader market extended its outperformance.
The Sensex fell 250 points to close at 76,479, while the Nifty 50 declined 81 points to settle at 23,866, slipping below the 23,900 mark.
The Nifty Bank index also ended lower, shedding 184 points to close at 57,543.
In contrast to the weakness in frontline indices, broader markets remained resilient.
The Nifty Midcap index gained 230 points to end at 61,798, while market breadth remained positive, with advancing stocks outnumbering losers by a ratio of 3:2 on the NSE.
The IT sector remained the biggest drag on market sentiment for the third consecutive session.
The Nifty IT index emerged as the worst-performing sectoral index, with heavyweights Infosys, Tata Consultancy Services, Wipro and HCL Technologies among the top contributors to the decline.
Apart from IT stocks, Eicher Motors and Tata Consumer Products also featured among the biggest losers on the Nifty.
On the positive side, automobile stocks witnessed strong buying interest.
Maruti Suzuki India surged more than 5 per cent after receiving a brokerage upgrade from Jefferies, making it the top-performing stock on the Nifty.
Bajaj Finance, Titan Company, Tata Motors Passenger Vehicles, Adani Ports & Special Economic Zone and Eternal also ended among the leading gainers from the Sensex pack.
Stock-specific action remained strong across sectors.
Transformers & Rectifiers (India) jumped more than 6 per cent after securing an order worth over Rs 1,000 crore from Power Grid Corporation of India.
Suzlon Energy gained more than 3 per cent after winning a 105 MW wind energy project from Sunsure Energy.
Electric vehicle manufacturers Ola Electric and Ather Energy rallied as much as 8 per cent after the Delhi government unveiled its new electric vehicle policy, while Dixon Technologies rose around 1 per cent following reports that government approval for its joint venture with Vivo could be imminent.
HDFC Bank ended largely unchanged after announcing the appointment of a new Chairman and Chief Financial Officer.
Other stocks that attracted buying interest included Cochin Shipyard, L&T Finance, Nykaa, Alkem Laboratories and Bharti Hexacom.
Despite Tuesday’s weakness, Indian equities ended the first quarter of FY27 on a strong note.
The Nifty has gained around 7 per cent during the quarter, registering its strongest quarterly performance in a year, supported by improving domestic fundamentals, resilient institutional inflows and easing concerns over global crude oil prices. (BVI)
