Benchmark indices Sensex and Nifty ended the trading session lower on June 11 as renewed military exchanges between the United States and Iran reignited concerns over the durability of the fragile ceasefire, keeping investor sentiment cautious. Heavy outflow by foreign institutional investors (FIIs) and a spike in US inflation further dented investors’ sentiment. The 30-share BSE Sensex fell 150.63 points or 0.20 per cent at 73,832.55. During the day, it hit a high of 74,394.34 and a low of 73,518.75, gyrating 875.59 points. The 50-share NSE Nifty fell 53.35 points or 0.23 per cent to settle at 23,161.60. Broader markets underperformed, with the BSE Midcap Select Index falling 184.99 points or 1.08 per cent, and the BSE Smallcap Select Index declining around 16.28 points or 0.27 per cent.
On Thursday, out of the 30 Sensex companies, only 9 closed in the green, while the remaining 21 closed in the red. On the other hand, of the 50 companies in the Nifty 50, only 18 closed in the green, while the remaining 32 closed in the red.
Top gainers and losers
Among the 30-Sensex firms, ICICI Bank, Mahindra & Mahindra, Kotak Bank, Sun Pharma and Bharati Airtel were the major winners. ICICI Bank’s shares closed with a gain of 1.87 per cent today. On the flip side, Infosys, HCL Tech, Adani Ports, Eternal and Bajaj Finance were among the laggards. Infosys shares closed with a 2.71 per cent dip today.
“On the sectoral front, defence stocks emerged as the biggest laggards, while the IT sector also came under significant pressure, with both segments declining nearly 1.5%. The weakness in technology stocks reflected growing concerns over the sustainability of the global AI-driven rally and its implications for valuations across the sector. In contrast, banking, financials, pharma and media stocks provided a measure of support, helping to cushion broader market weakness and prevent deeper losses,” said Ponmudi R, CEO of Enrich Money.
Rupee slumps 50 paise
The rupee plunged 50 paise to settle at 95.75 (provisional) against the US dollar on Thursday amid heightened tensions in West Asia and a stronger greenback. At the interbank foreign exchange market, the rupee opened at 95.55 against the greenback and traded in the range of 95.55 to 95.76 before settling at 95.75 (provisional), down 50 paise from its previous close.
