The equity benchmark indices, BSE Sensex and NSE Nifty, experienced a mixed close today after hitting record highs during the trading session. All four frontline indices reached new peaks before profit booking, especially in the midcap segment, led to a shift. The midcap index closed 700 points off its intra-day highs.
The Sensex ended the day with a modest gain of 36 points, settling at 77,338, while the Nifty slipped by 42 points to close at 23,516. The Nifty Bank index significantly outperformed, rising by 2% or 957 points to end at a record 51,398, driven by strong buying in major private banking stocks.
Major gainers included Axis Bank, HDFC Bank, ICICI Bank, IndusInd Bank, Kotak Mahindra Bank, and Tech Mahindra. In contrast, Titan Company, Larsen & Toubro, Bharti Airtel, Maruti Suzuki India, NTPC, and Reliance Industries were the biggest laggards. The Midcap Index saw profit booking and ended its nine-day gaining streak, falling by 538 points to 54,952. The broader market breadth remained negative, with the NSE advance-decline ratio at 2:3. Sector-wise, apart from financials and IT, all other indices closed with losses. Public sector units (PSUs), infrastructure, and consumption sectors were among the hardest hit, with the Nifty PSU index dropping by 2%.
Defence stocks faced selling pressure, with Hindustan Aeronautics Ltd (HAL) and Mazagon Dock Shipbuilders Ltd emerging as top losers. Conversely, fertilizer stocks surged on expectations of a GST rate cut, with Chambal Fertilizers climbing 7%.
The metals sector saw positive action as well, with Indian Metals & Ferro Alloys Ltd rising 5% after the government issued a refund order for the Utkal block. Delta Corp extended its gains from the previous session, jumping 15% ahead of the GST meeting on June 22. Indus Towers witnessed a volatile session, ending in the red despite recovering from its lows after Vodafone Plc sold an 18% stake in the company. Meanwhile, Bharti Airtel acquired a 1% stake in Indus Towers, but its stock closed lower.
In Asian markets, Seoul, Tokyo, and Hong Kong were trading higher, while Shanghai quoted lower. US markets ended in positive territory on Tuesday (June 18). Global oil benchmark Brent crude climbed 0.01% to $85.34 a barrel.
On Tuesday, the BSE benchmark climbed 308.37 points or 0.40% to settle at a new closing peak of 77,301.14. The Nifty went up by 92.30 points or 0.39% to hit a record closing high of 23,557.90.
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