Indices Logged Worst Trading Session in Over Four Years

Indian equity indices logged worst trading session in over four years amidst Lok Sabha Election results. The NSE Nifty 50 closed 5.93% or 1,379.40 points higher at 21,884.50, while the S&P BSE Sensex ended 5.74% or 4,389.70 points up at 72,079. Intraday, Nifty fell as much as 8.52% to 21,281.40, the highest intraday fall since March 23, 2020, while Sensex declined 8.15% to 70,234.40. Heavy-weight stocks like Reliance Industries, HDFC Bank, ICICI Bank, Larsen & Toubro, State Bank Of India weighed on the Nifty 50. While Hindustan Unilever, Nestle India, Hero MotoCorp, Britannia Industries, Tata Consultancy Services helped to limit the loss in the index.

The broader market underperformed the benchmark index; The S&P BSE Mid-Cap index declined by 8.07% and the S&P BSE Small-Cap index declined by 6.79%. On BSE, 3,337 stocks declined, 500 stocks advanced and 97 remained unchanged.

Among the sectoral indices, the Nifty FMCG index (up 0.95%), the Nifty IT index (down 0.60%) and the Nifty Healthcare index (down 0.93%) outperformed the Nifty 50 index. Meanwhile, the Nifty PSU Bank index (down 15.14%), the Nifty Oil & Gas index (down 11.80%) and the Nifty Metal index (down 10.63%)  underperformed the Nifty 50 index.

Investors should add fundamentally strong stocks in their portfolio and remain cautioned while trading in the upcoming trading sessions.

DERIVATIVE PICKS

TOP DELIVERY PERCENTAGE

UPCOMING ECONOMIC DATA

NEWS UPDATES

• Indian benchmark indices lost more than 5 percent on vote counting day on June 4. The Sensex was down 4,389.73 points or 5.74 percent at 72,079.05, and the Nifty was down 1,379.40 points or 5.93 percent at 21,884.50. About 331 shares advanced, 3093 shares declined, and 55 shares unchanged. BSE Midcap index shed 8 percent and smallcap index fell nearly 7 percent.

• Foreign brokerage Morgan Stanley has reiterated its “Overweight” call on Reliance Industries as it sees the monetisation cycle pick up. The brokerage also retained its target price of Rs 3,046 per share on Reliance Industries indicating a minor upside from the current levels. According to the brokerage, the re-rating potential takes centerstage as the monetization cycle accelerates and the earnings catch-up will be a key event in FY26, as multiple catalysts improve.

• Amid a heavy sell-off on Dalal Street, most Indian indices are trading red with heavy intraday losses. However, the Nifty FMCG index ended up being around one percent higher. FMCG major Britannia share price touched a new lifetime peak of ₹5,414.40 per share on NSE. The stock ended around 3.50 percent higher at ₹5,340 per share.

Source: Moneycontrol, Economic Times,  Indian Express, Business Today, Livemint, Business Standard

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