Indian equity benchmarks closed with modest losses on June 19 after a rangebound session. At the close, the Sensex declined 82.79 points, or 0.10 per cent, to 81,361.87, while the Nifty slipped 18.80 points, or 0.08 per cent, to settle at 24,793.25. Market breadth remained weak, with 928 stocks advancing, 2,907 declining, and 133 remaining unchanged.
On the Nifty, notable gainers included Tata Consumer, Eicher Motors, M&M, Wipro, and Dr. Reddy’s Laboratories. On the losing side were Adani Ports, Bajaj Finance, Shriram Finance, Tech Mahindra, and Adani Enterprises.
Broader Market Update
Broader markets underperformed the benchmarks, with both the BSE Midcap and Smallcap indices falling over 1.5 per cent.
Sectorial Update
Sector-wise, apart from auto, all indices ended in the red. IT, media, metals, realty, oil & gas, pharma, telecom, and PSU banks declined between 0.5 per cent and 2 per cent.
"The 24,500-25,000 range for the Nifty is likely to hold till news from the Israel-Iran conflict change for the better or for the worse. If news of deescalation of tensions break, Nifty will break out of the upper band of the range," said VK Vijayakumar, Chief Investment Strategist, Geojit Investments.
Overnight, the US Federal Reserve opted to keep its benchmark interest rate steady at 4.25–4.5 percent, citing ongoing economic uncertainty.
Vaibhav Vidwani, Research Analyst at Bonanza, noted, "Today, the Indian stock market closed lower, with the Nifty 50 slipping by around 0.07% to close near24,793 and the Sensex down by a similar margin to about 81,361 points. The market slipped into the red, pressured by a combination of global and domestic factors. The primary reasons for the lower closing were cautious signals from the U.S. Federal Reserve, which held interest rates steady but projected only two rate cuts by the end of 2025, alongside warnings of higher inflation, slower growth, and rising unemployment in the U.S. economy. These Fed signals dampened risk appetite globally, including in India."