Sensex, Nifty Today: Indian equity benchmark indices, the Sensex and Nifty, started the trading session on a weak note on June 11, 2206 amid rising geopolitical tensions and a sharp overnight sell-off in global equities. While the 30-share BSE Sensex tumbled 367.19 points or 0.49 per cent to start the session at 73,615.99, the Nifty dropped 110.55 points to open at 23,104.40. In the last trading session, the Sensex closed at 73,983.18 and the Nifty 50 at 23,214.95. Similarly, the broader indices traded in the red in the opening session. While the BSE Midcap Select Index was down by 154.78 points, the BSE Smallcap Select Index dipped by 36.61 points, or 0.45 per cent, to trade in the red at 8,188.12.
In early trade, market breadth was negative, with 1,844 stocks declining against 532 stocks advancing on the NSE. 90 stocks remained unchanged.
From the Sensex pack, Power Grid, Sun Pharma, Bharti Airtel and ICICI Bank were in green with Power Grid leading the pack by gaining 0.87 per cent in the early trade. On the other hand, HCL Tech, Infosys, Eternal, Tech Mahindra, and Trent were among the top losers, with HCL Tech being the top loser by falling over 3.49 per cent.
What did Gift Nifty indicate?
Gift Nifty, an early indicator for the Nifty 50, indicated a flat start as it opened without any change, but dropped later. Foreign Institutional Investors (FIIs) continued their selling stance and offloaded equities worth Rs 2,124.98 crore on June 10. However, Domestic Institutional Investors (DIIs) remained steady buyers and purchased equities worth Rs 3,123.95 crore.
“The market appears to be at a crucial juncture, with repeated failure near higher levels indicating a lack of strong bullish conviction. Persistent foreign outflows and weak broader participation may continue to keep sentiment subdued in the near term. However, domestic institutional support and stability around key support zones could help limit downside pressure. A decisive breakout or breakdown from the current range is likely to determine the market’s next directional trend,” Hitesh Tailor, Research Analyst, Choice Equity Broking Private Limited.
Asian Markets Today
Asian shares declined on Thursday, pressured by a pullback on Wall Street after stronger-than-anticipated US inflation data and fresh strikes on Iran. Japan’s Nikkei 225 was down by 49.27 points or 0.08 per cent at 64,130 at the time of writing the report. Similarly, Hong Kong’s Hang Seng shed 281.96 points or 1.17 per cent. South Korea’s Kospi traded in the red with a drop of 5.06 points. Similarly, Shanghai’s SSE Composite index was down by 28.99 points or 0.73 per cent.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
