Sensex and Nifty News: Markets Slip After 4-Day Rally, Mid and Small-Caps Lead Gains

Market Performance

India's key equity benchmarks, Sensex and Nifty 50, ended their four-day winning streak on Monday, June 30, amid mixed global cues and profit booking in heavyweight stocks.

• Sensex fell 452 points or 0.54% to close at 83,606.46
• Nifty 50 declined 121 points or 0.47%, finishing at 25,517.05

While the benchmarks declined, the broader markets outperformed:

• BSE Midcap index gained 0.67%
• BSE Smallcap index rose 0.81%

This surge helped the market capitalisation of BSE-listed companies rise by ₹1 lakh Crore to reach ₹461 lakh Crore, compared to ₹460 lakh Crore in the previous session.

Every month, Nifty 50 marked its fourth consecutive monthly gain, rising 3% in June. As of 2024, the index has increased by 7.5% year-to-date.

Main News

Heavyweights Witness Profit Booking

The decline in benchmarks was attributed to profit booking in major stocks such as:

• Reliance Industries
• ICICI Bank
• HDFC Bank
• Axis Bank
• Kotak Mahindra Bank

Despite the decline in benchmarks, investors showed confidence in broader markets, particularly mid- and small-cap stocks, likely due to expectations of improved earnings and margin expansion.

Top Gainers in Nifty 50

• Trent: up 3.04%
• BEL (Bharat Electronics Ltd): up 2.00%
• SBI (State Bank of India): up 1.79%

Top Losers in Nifty 50

• Tata Consumer: down 2.34%
• Kotak Mahindra Bank: down 2.17%
• Axis Bank: down 2.13%

Company & Sectoral Performance

Sectoral Indices Performance

• Nifty Bank: down 0.23%
• Private Bank Index: down 0.88%
• Financial Services: down 0.62%
• Nifty PSU Bank Index: up 2.66%

Among sectors, Pharma and Consumer Durables posted gains of 0.5% each, while Realty, Auto, and FMCG sectors faced selling pressure.

Notably, Nifty Realty slipped 0.9%, and Nifty Auto fell 0.6%.

PSU Banks in Spotlight

Shares of central public sector banks surged sharply:

• Bank of Baroda
• Canara Bank
• Indian Bank
• SBI (State Bank of India)
• PNB (Punjab National Bank)
• Bank of India

All 12 constituents of the Nifty PSU Bank index traded in the green, after reports that the Finance Ministry directed state-run lenders to monetise their stakes through IPOs or strategic sales.

Market Highlights

Most Active Stocks by Volume

• Vodafone Idea: 55.43 Crore shares
• RattanIndia Power: 43.20 Crore shares
• GTL Infrastructure: 18.52 Crore shares

Top Performers with Over 15% Gains

• Innovana Thinklabs
• Shemaroo Entertainment
• Tamilnadu Telecommunication
• Dangee Dums
• Filatex Fashions

Biggest Decliners (Over 10%)

• Sigachi Industries: down 11.19%
• GACM Technologies: down 10%

Other Key Market Metrics

Upper & Lower Circuits

• 144 stocks hit their upper circuit, including:
  • ITI
  • AXISCADES Technologies
  • Indef Manufacturing
  • Gensol Engineering
  • Kamdhenu Ventures
• 67 stocks hit their lower circuit, including:
  • Rajoo Engineers
  • Thomas Scott (India)
  • Power & Instrumentation (Gujarat)
  • Krishival Foods
  • Teerth Gopicon

Advance-Decline Ratio

Out of the 4,290 stocks that were traded on the BSE

• 2,362 advanced
• 1,750 declined
• 178 remained unchanged

52-Week Highs & Lows

• 162 stocks hit 52-week highs, including:
  • HDFC Life Insurance
  • InterGlobe Aviation
  • Max Healthcare Institute
  • SRF
  • TVS Motor Company
• 45 stocks hit 52-week lows, including:
  • Jindal Worldwide
  • Salasar Techno Engineering

Summary of the Article

The Indian stock market experienced a pause in its recent rally, with both the Sensex and Nifty 50 ending in the red. Despite this, mid and small-cap stocks delivered strong performance, boosting investor wealth. While profit booking in key banking and financial stocks weighed on benchmarks, PSU banks outshone, supported by strategic divestment signals from the Finance Ministry.

The trading session also saw robust activity in broader markets, numerous 52-week highs, and a favorable advance-decline ratio, highlighting strong market participation outside the large-cap space.