The Indian benchmark indices, Sensex and Nifty 50, closed the day in the red on Thursday, June 11, snapping their two-day winning run as tensions flared up in the Middle East, dampening hopes of any near-term resolution to the war.
Unabated foreign fund outflows and a spike in US inflation, along with a jump in crude oil prices, also dented market sentiment.
BSE Sensex ended the day at 73,833, down 151 points or 0.20%, and Nifty 50 closed the session at 23,162, lower by 53 points or 0.23%.
The United States carried out fresh strikes on multiple targets in Iran on Wednesday, according to the US military, as President Donald Trump warned of further attacks unless a peace agreement is reached. The escalation lifted Brent crude futures 1.9% to $95 a barrel before cooling off to the $92 mark.
Indian stock market: 10 key highlights
Here are the 10 key highlights from the Indian stock market today:
1. What moved market today?
Vinod Nair, Head of Research, Geojit Investments Limited, said that domestic markets witnessed a modest rebound on dip-buying as oil prices eased, despite the recent US–Iran escalation. However, the recovery proved fleeting, weighed down by an increasingly fragile global backdrop, he added.
“Global cues remained mixed, with major central banks continuing to signal a hawkish stance. The expected ECB rate hike has further heightened concerns around liquidity tightening and its potential impact on emerging market flows,” Nair added.
2. Top Nifty 50 winners
Only 12 Nifty 50 stocks ended in the green today. M&M was the top gainer with a 1.84% rise. It was followed by ICICI Bank, Kotak Mahindra Bank, JSW Steel, Sun Pharma and Bharti Airtel, which gained between 0.65% to 1.6%.
3. Top Nifty 50 losers
Among the 38 stocks that ended in the red, Infosys was the worst performer, down 2.25%. It was followed by HCL Technologies, Adani Ports, Eternal and Bajaj Finance, which shed up to 1.6%.
4. Broader markets underperform
The broader markets underperformed as the Nifty Midcap 100 index lost 0.81% and the Nifty Smallcap 100 index declined 0.67%.
5. Most active stocks
With 80.24 lakh shares traded, Vodafone Idea was the most active stock in volume terms on NSE today. It was followed by Ola Electric, of which 38.44 lakh shares changed hands. ZEEL followed suit with 14.75 lakh shares traded today.
Motisons Jewellers and GTL Infra, Tata Gold ETF and YES Bank were other most traded stocks on NSE.
6. Top gainers on NSE
Two stocks on NSE ended at 20% upper circuits, namely PPAP Automotive and Indoco Remedies. The rally in PPAP followed after the announcement of a partnership agreement with Hutchinson to produce advanced body sealing systems for passenger vehicles in the country. Meanwhile, Indoco Remedies saw higher-than-usual volumes today, driving the stock higher. On BSE, 4.21 lakh shares of the stock were traded against the two-week average of 0.32 lakh shares. On NSE, the volumes were 109.72 lakhs.
7. Worst NSE losers
Meanwhile, four stocks lost over 10% today. Narmada Agrobase was the worst performer, with a 20% decline. MTAR Tech lost 10.99%, Bang Overseas shed 10.66%, and Anjani Portland Cement was down by 10.59% for the day.
8. Stocks at 52-week high and low
Thirty eight stocks hit 52-week highs today, including Aster DM Healthcare, Cupid, Honasa, SIS and RBL Bank. Meanwhile, 84 stocks declined to 52-week lows today, including Bajaj Electricals, Dalmia Bharat, GHCL, Swiggy, SBI Life and Wipro.
9. Advance-decline ratio
Advance-decline ratio stood at 1:2, as 1013 stocks gained while 2255 declined in trade today on NSE.
10. Nifty technical outlook
Vatsal Bhuva, Technical Analyst at LKP Securities, said, “The broader chart structure of the Nifty index remains weak, as the formation of lower highs and lower lows continues to indicate bearish dominance. The index is trading below its key short-, medium-, and long-term moving averages, highlighting the prevailing downside bias. Momentum indicators remain subdued, with RSI hovering below the neutral 50 mark. However, buying interest is consistently emerging near the 23,000–23,100 support zone, limiting further downside. Given the current setup, a level-based trading approach is advisable, with consolidation likely between 23,000–23,100 support and 23,350–23,500 resistance in the near term.”
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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