Benchmark indices Sensex and Nifty pared most of their gains and ended the June 10 session almost flat as investors turned cautious amid mounting geopolitical headwinds. The 30-share BSE Sensex closed slightly higher, up 64.42 points or 0.09 per cent at 73,983.18. During the day, it hit a high of 74,613.01 and a low of 73,897.57, gyrating 715.14 points. The 50-share NSE Nifty fell 27.15 points or 0.12 per cent to settle at 23,214.95. Broader markets underperformed, with the BSE Midcap Select Index falling 235.21 points or 1.35 per cent and the BSE Smallcap Select Index declining around 114.47 points or 1.37 per cent.
“The first half of the session was supported by optimism around easing crude oil prices and stability in domestic financial conditions. However, sentiment deteriorated rapidly after European markets opened weak and investors reacted to fresh geopolitical developments in the Middle East. Reports of renewed US military action against Iran reignited concerns around energy security, global growth and inflation risks, prompting investors to reduce exposure to risk assets,” said Hariprasad K, SEBI-registered Research Analyst and Founder, Livelong Wealth.
Top gainers and losers
Among the 30-Sensex firms, Hindustan Unilever, Axis Bank, Kotak Bank, ICICI Bank and ITC were the major winners. The shares of FMCG company Hindustan Unilever closed with a 1.70 per cent gain today. On the flip side, Eternal, Tata Steel, Bajaj Finserv, Titan and Mahindra & Mahindra were among the laggards. Eternal’s shares closed with a 2.22 per cent dip today.
On Wednesday, out of the 30 Sensex companies, only 12 shares closed in the green, while the remaining 18 closed in the red. On the other hand, out of 50 companies of Nifty 50, only 16 shares closed in green with gains, and the shares of all the remaining 34 companies closed in red with losses.
Rupee rises 14 paise
Meanwhile, the rupee appreciated 14 paise to close at 95.27 (provisional) against the US dollar on Wednesday, amid likely intervention from the Reserve Bank of India (RBI) to curb excessive volatility and prevent a further slide in the domestic unit. Forex traders said the rupee pared its initial losses and settled on a positive note as Brent crude oil prices and the US dollar index retreated from their elevated levels.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
