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Informist, Tuesday, Jun. 17, 2025

By Simran Rede

MUMBAI – The benchmark indices closed lower Tuesday as investors booked some profits after the sharp 1% rise on Monday. The indices also fell as foreign portfolio investors likely sold Indian equities on escalation in conflict between Iran and Israel, some market participants said.

The indices fell after opening flat and remained lower throughout the session. However, the Nifty 50 managed to stay above the crucial psychological level of 24800 points. The 50-stock index was dragged down by fall in heavyweights Reliance Industries and HDFC Bank. However, a rise in other heavyweights such as Infosys and HDFC Bank limited the decline.

Most sectoral indices reversed their intraday gains and ended 0.3-1.9% lower. Nifty Pharma and Nifty Healthcare were the worst hit among the sectoral indices after US President Donald Trump said tariffs on the pharma sector are "coming soon." Barring Abbott India, shares of all other pharma companies ended lower. Exports to the US form a major portion of the revenue of several of these companies.

Bucking the trend, Nifty IT and Nifty India Defence closed higher by 0.7% and 0.4%, respectively, and were the only gainers in the pack. While the broader market indices were mixed at the opening, they closed the day sharply lower than the benchmark indices. The small- and mid-cap indices ended nearly 1% lower.

The Nifty 50 closed at 24853.40 points, down 93.10 points or 0.4%. The BSE Sensex ended at 81583.30 points, down 212.85 points or 0.3%. Trade was volatile due to uncertainty over whether the conflict between Israel and Iran would escalate further, analysts said. However, the India VIX, the fear gauge of the market, ended 3% lower at 14.4025. The indicator had risen over 1% early in the trade, but subsided within the first hour.

Most information technology stocks ended higher, with Tech Mahindra, Infosys, and Tata Consultancy Services being among the top gainers in the Nifty 50. The Nifty IT has now risen for nine of the 10 sessions and has gained nearly 7% over this period.

On the other hand, Adani Enterprises, down more than 2%, was the worst hit in the Nifty 50. Tata Motors ended nearly 2% lower. The stock was the worst hit in the Nifty 50 for most of the session. The stock fell for the second consecutive session after the company's UK-based subsidiary Jaguar Land Rover reduced its guidance for 2025-26 (Apr-Mar) Monday. Nomura Global Markets Research Tuesday said the reduction was in line with its estimates but lower than what the market had expected. 

Vishal Mega Mart fell 9% intraday but recovered and closed 1.5% higher. The stock had initially fallen after over 940 million shares of the company changed hands through block deals on the exchanges at INR 116.46 per share, a discount of 7% to Monday's closing price on the National Stock Exchange.

Shipping Corp. of India fell more than 8%. The stock had risen in the previous two sessions on hopes of higher tanker rates in case the conflict between Iran and Israel leads to disruption in transportation of crude oil. Tanla Platforms came off its intraday high and closed nearly 3% higher. The stock had gained nearly 8% at its intraday high and was the top gainer in the Nifty 500 after the company said it would buy back up to 2 million shares at a premium of 33% to Monday's closing price. 

Happiest Minds Technologies closed over 11% higher and was the top gainer in the Nifty 500 after Anand Rathi Share and Stock Brokers started coverage on the stock with a "buy" rating and target price with an upside of 20% to the spot price. Inventurus Knowledge Solutions closed over 7% higher and was the second biggest Nifty 500 gainer. The traded volume of the stock soared over 1,000% from the Monday's volume to 1.19 million shares.

* Of the Nifty 50 stocks, 12 rose and 38 fell 

* Of the Sensex stocks, 9 rose and 21 fell

* On the NSE, 939 stocks rose, 1,946 fell, and 76 were unchanged

* On the BSE, 1,497 stocks rose, 2,482 fell, and 139 were unchanged

* Nifty IT: up 0.7%; Nifty India Defence: up 0.4%; Nifty Pharma: down 1.9%

BSE                                               NSE

Sensex: 81583.30, down 212.85 points or 0.3%      Nifty 50: 24853.40, down 93.10 points or 0.4%

End

Edited by Ashish Shirke

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