June 23:
Domestic equity markets ended in the red on Monday, dragged down by weak global cues amid rising geopolitical tensions, which weighed on investor sentiment. The benchmark indices—the BSE Sensex and NSE Nifty—closed with losses of over half a percent, led by declines in IT and tech-heavyweights.
The BSE Sensex fell 511 points, or 0.62%, to end at 81,897, while the Nifty 50 declined 141 points, or 0.56%, to settle at 24,972.
However, broader markets bucked the trend, offering some relief. The BSE Mid-Cap index edged up 0.2%, and the Small-Cap index advanced by over 0.5%, reflecting resilience in select non-index stocks.
Sensex Movers: IT Drags, Select Financials and FMCG Shine
Out of the 30 stocks in the Sensex basket, 21 closed in the red. IT stocks were among the worst hit. Infosys led the losses, sliding 2.3%, followed by Larsen & Toubro, down 2.1%, and HCL Technologies, which also slipped 2.1%.
On the other hand, Trent emerged as the top gainer, surging 3.6%. Bharat Electronics gained 3.1%, and Bajaj Finance climbed 1.2%, helping to limit broader market losses.
Sectoral Performance: IT, Tech Slide; Capital Goods, Metals Gain
Among the 21 sectoral indices on the BSE, 12 ended in negative territory. The Focused IT index dropped 1.5%, the broader IT index declined 1.4%, and the Tech sector was down 1.1%, reflecting global tech-sector weakness.
In contrast, Capital Goods rallied 0.9%, while both Services and Metal sectors rose over 0.7% each. The Commodities index also gained, ending 0.4% higher.
Market Breadth and Highlights
The overall market breadth at the BSE remained negative, with 2,204 stocks declining, 1,854 advancing, and 182 remaining unchanged.
At the National Stock Exchange (NSE), 41 stocks hit their 52-week highs, while 38 touched 52-week lows, indicating mixed sentiment across the broader market.
Global Cues and Outlook
Analysts attributed Monday’s weakness to global market jitters sparked by intensifying geopolitical developments, as well as profit booking in frontline stocks after recent highs. Uncertainty over US interest rate outlook and foreign fund flows also continue to influence domestic sentiment.
Going forward, market participants will closely watch global developments, FII flows, and key macroeconomic data due later in the week for further direction.
