Closing Bell: Nifty 50 Falls 80 Points, Sensex Drops 250 Points as IT Stocks Weigh; June Gains Still Intact

Market Update at 04:00 PM: Indian equity benchmarks ended lower on Tuesday, June 30, as selling pressure in information technology and select Banking stocks dragged indices into the red despite a firm start to the session.

The Nifty 50 opened 85 points higher but failed to sustain early momentum. After a brief consolidation in a narrow range during the midday session, the index saw intensified selling in the second half, slipping to an Intraday low of 23,829.20. It eventually closed at 23,865.75, down 80.50 points or 0.34 per cent. The Sensex declined 249.70 points or 0.33 per cent to finish at 76,478.67, marking its second consecutive day of losses.

Bank Nifty also fell 0.32 per cent, extending its losing streak for a second session, while India VIX remained largely stable, indicating muted volatility expectations.

Despite the day’s decline, both benchmark indices remain positive for June so far. The Nifty 50 has gained 1.5 per cent, while the Sensex is up 2.5 per cent in the month, supported by lower crude oil prices and policy measures aimed at stabilising the rupee and attracting foreign inflows. However, expiry-related volatility in the June derivatives series contributed to sharp intraday swings.

Brent crude remained below USD 75 per barrel, offering some relief to inflation concerns. However, inflation readings in the U.S. have risen, increasing expectations that the Federal Reserve may consider rate hikes later in 2026.

The Indian rupee traded slightly weaker at 94.68 per USD, compared with its previous close of 94.54. On a monthly basis, however, the rupee has still appreciated by 0.32 per cent.

Sectoral trends were mixed, with 4 out of 11 key indices closing in positive territory. Broader markets outperformed, as the Nifty Midcap 100 rose 0.37 per cent and the Nifty Smallcap 100 gained 1.02 per cent.

The Nifty Realty index was the top gainer, rising 1.31 per cent and closing above its 200-day exponential moving average, with 8 of 10 constituents ending in the green. The Nifty Auto index gained 0.23 per cent after the Delhi government announced a new EV policy, mandating electric three-wheelers from January 1, 2027, and electric two-wheelers from April 1, 2028, signalling a long-term shift towards electric mobility.

On the other hand, the Nifty IT index was the worst performer, falling 2.73 per cent due to concerns that potential rate hikes in the U.S. could dampen client spending and global demand, a key revenue driver for the sector.

Ola Electric Mobility surged 8.37 per cent, while Ather Energy touched record highs after the approval of the Delhi EV Policy 2026, which includes incentives for EV purchases and expansion of charging infrastructure.

Shilpa Medicare gained 4.32 per cent after its subsidiary Shilpa Biologicals entered a co-development and exclusive supply agreement with Orion Corporation for an intravenous nivolumab biosimilar targeting the European market.

Suzlon Energy rose 3 per cent after securing a 105 MW wind turbine order from Sunsure Energy, marking the commercial rollout of its S175 (5.0 MW) next-generation turbine platform.

Adani Ports advanced 1.92 per cent after announcing the sale of a 49 per cent stake in Vizhinjam International Seaport to Terminal Investment Limited (MSC’s TiL) for USD 1.4 billion, marking a major foreign investment in Indian port infrastructure.

The key contributors to Nifty 50 gains included Maruti Suzuki India, which added 19.97 points, Bajaj Finance contributing 13.16 points, and Titan Company adding 11.41 points.

On the downside, Infosys dragged the index by 27.71 points, followed by ICICI Bank with a 19.35-point negative impact and Tata Consultancy Services with a 14.74-point drag.

Market breadth tilted in favour of decliners. Out of 3,411 stocks traded on the NSE, 1,919 advanced, 1,386 declined, and 109 remained unchanged.

Additionally, 127 stocks hit 52-week highs, while 60 touched 52-week lows. A total of 106 stocks hit Upper Circuits, whereas 86 stocks were locked in Lower Circuits.

Market Update at 2:20 PM: The Indian stock market traded in a tight range on Tuesday afternoon as investors remained cautious ahead of developments in the ongoing talks between the U.S. and Iran.

At around 2:00 PM, the Nifty 50 was down 18.20 points, or 0.08 per cent, at 23,928.05. The Sensex also traded lower, slipping 107.33 points, or 0.14 per cent, to 76,621.04.

Among the Nifty 50 constituents, Eicher Motors, Tata Consumer Products, and Infosys emerged as the Top Losers, weighing on the benchmark index.

The broader market continued to outperform the frontline indices. The Nifty MidCap index gained 0.44 per cent, while the Nifty SmallCap index advanced 1 per cent, indicating sustained buying interest in mid- and Small-Cap stocks.

On the sectoral front, Nifty IT was the biggest laggard, declining more than 2 per cent. Nifty Media and Nifty Metal also traded in the red, reflecting weakness across these segments. In contrast, Nifty Chemical and Nifty Realty were among the top-performing sectoral indices during the session.
 

Market Update at 12:16 PM: Nifty 50, Sensex, Indian stock market, stock market today, Nifty IT, Infosys, Eicher Motors, Tata Consumer Products, Nifty MidCap, Nifty SmallCap, U.S.-Iran talks, market update, sectoral indices

The Indian equity benchmarks traded in a narrow range during the afternoon session on Tuesday as investors remained cautious ahead of developments in the ongoing talks between the U.S. and Iran.

As of 12:00 PM, the Nifty 50 was down 2.5 points, or 0.01 per cent, at 23,948.75, while the Sensex slipped 11.91 points, or 0.02 per cent, to 76,716.46.

Among the Nifty 50 constituents, Eicher Motors, Tata Consumer Products, and Infosys emerged as the top losers, weighing on the benchmark index.

The broader market continued to outperform the frontline indices. The Nifty MidCap index was trading 0.08 per cent higher, while the Nifty SmallCap index gained 0.56 per cent.

On the sectoral front, the Nifty IT index was the biggest laggard, falling more than 2 per cent. The Nifty Media and Nifty Metal indices also traded in the red, reflecting weakness across select sectors. In contrast, the Nifty Chemical and Nifty Realty indices outperformed the broader market, posting gains during the session.

Market Update at 09:30 AM: The Nifty 50 and the Sensex rose slightly, tracking positive global cues amid renewed geopolitical tension. 

The Nifty 50 was up 0.02 per cent or 3.90 points at 23,950.15, and the Sensex rose 66.71 points or 0.09 per cent to 76,795.08.

In the broader markets, the Nifty MidCap and the Nifty SmallCap were trading 0.23 per cent and 0.48 per cent higher, respectively.

Pre-Market Update at 7:40 AM: The Indian stock market is expected to open on a positive note on Tuesday, June 30, supported by strong global cues despite lingering uncertainty over the U.S.-Iran peace talks. Gains across Asian markets and another record close on Wall Street are likely to provide support to domestic equities.

At 7:24 a.m., Gift Nifty was trading around 23,999, a premium of nearly 45 points over the previous close of Nifty futures, indicating a higher opening for the benchmark indices.

Geopolitical developments continue to be closely monitored by investors. Iran has denied reports that fresh talks with the United States are scheduled in the coming days. However, the White House said U.S. Special Envoy Steve Witkoff and President Donald Trump's Senior Adviser Jared Kushner will travel to Doha on Tuesday for discussions with Iranian officials.

Japan's industrial production rose 0.5 per cent month-on-month in May, below market expectations of a 1.1 per cent increase. Despite the slower growth, factory output expanded for the second consecutive month.

India's industrial output, measured by the Index of Industrial Production (IIP), grew 5.1 per cent year-on-year in May compared with 4.9 per cent in April, supported by stronger manufacturing sector activity.

HDFC Bank's board approved the appointment of former Chief Election Commissioner and former Financial Services Secretary Rajiv Kumar as Part-time Chairman and Additional Independent Director for a four-year term, effective June 30, 2026, subject to approval from the Reserve Bank of India. The bank also appointed former Axis Bank Chief Financial Officer Puneet Sharma as CFO-Designate from September 1, 2026. He will assume the role of Chief Financial Officer from December 1, 2026.

Gold prices fell more than 1 per cent and remained on track for a fourth consecutive monthly decline. Spot gold dropped 1.5 per cent to USD 3,957.74 per ounce, taking its monthly decline to 12.7 per cent. U.S. gold futures for August delivery declined 1.7 per cent to USD 3,971.60 per ounce, while spot silver fell 2.4 per cent to USD 56.89 per ounce.

Crude oil prices also remained under pressure ahead of the expected U.S.-Iran discussions. Brent crude declined 1.03 per cent to USD 72.40 per barrel, while West Texas Intermediate (WTI) crude slipped 0.83 per cent to USD 70.16 per barrel.

Meanwhile, the U.S. Dollar Index stood at 101.6 after falling 0.26 per cent in the previous session, although it remained on track for a 1.3 per cent gain during the second quarter.

From a derivatives perspective, the Put-Call Ratio (PCR) for the June series stood at 0.76. On the put side, the highest open interest addition was seen at the 23,800 strike, while the largest open interest was concentrated at the 24,000 and 23,500 strikes. On the call side, the highest open interest addition among out-of-the-money strikes was at the 24,000 strike, while the maximum open interest remained at the 25,000 and 24,000 strikes.

The Nifty 50 ended Monday's session at 23,946.25 after witnessing profit booking ahead of the monthly derivatives expiry. Immediate resistance levels are placed at 24,072, followed by 24,118 and 24,192. Key support levels are seen at 23,922, 23,876 and 23,802. The index continues to trade above its short- and medium-term moving averages, indicating that the broader trend remains positive, although weakening momentum indicators suggest the market may remain range-bound in the near term.

No stock has been placed under the futures and options (F&O) ban for June 30.

Foreign Institutional Investors (FIIs) remained net sellers on June 29, offloading equities worth Rs 1,350.10 crore. Domestic Institutional Investors (DIIs), however, continued their buying streak by purchasing shares worth Rs 2,801.45 crore.

Indian benchmark indices ended lower on Monday due to profit booking and rising crude oil prices following fresh tensions involving the U.S. and Iran. The Sensex declined 372.10 points, or 0.48 per cent, to close at 76,728.37, while the Nifty 50 fell 109.75 points, or 0.46 per cent, to settle at 23,946.25.

Wall Street ended sharply higher overnight, with the Dow Jones Industrial Average closing at a record high as technology stocks led the rally. The Dow advanced 306.63 points, or 0.59 per cent, to 52,182.74. The S&P 500 gained 86.41 points, or 1.18 per cent, to 7,440.43, while the Nasdaq Composite surged 522.53 points, or 2.07 per cent, to 25,820.14.

Among major technology stocks, Nvidia rose 1.27 per cent, AMD gained 3.43 per cent, Amazon advanced 3.20 per cent, Alphabet jumped 4.96 per cent, Meta climbed 2.24 per cent, Tesla surged 8.46 per cent and SpaceX gained 7.15 per cent. Microsoft declined 1.18 per cent, while Apple slipped 0.72 per cent.

Disclaimer: The article is for informational purposes only and not investment advice.

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