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Informist, Wednesday, Jun. 18, 2025

By Akash Mandal

MUMBAI – Benchmark indices ended lower Wednesday as conflict between Iran and Israel intensified and led to a rise in crude oil prices. Though analysts said the recent rise in crude prices has been broadly factored in, a rise above the $90 per barrel mark could lead to a further fall in the indices. Crude prices eased slightly Wednesday, after rising over 4% Tuesday. The prices have remained above the $75 per barrel level over the past four sessions.

The Nifty 50 closed at 24812.05 points, down 41.35 points or 0.2%. The index had risen nearly 95 points at its intraday high before investors seized the opportunity to book profits due to uncertainty regarding the near-term direction of the market. "There currently are no positives in the market for the Nifty (Nifty 50) to hold onto gains," an analyst at a domestic brokerage said. The BSE Sensex closed at 81444.66 points, down 138.64 points or 0.2%. Broader market indices also ended lower, with the small-cap stocks broadly mirroring the benchmarks, while mid-cap stocks fell slightly more.

IndusInd Bank was by far the biggest gainer in the Nifty 50. The stock ended over 5% higher after Nomura Global Markets Research upgraded the stock to 'buy' from 'neutral' and raised the target price by 50% to INR 1,050. The stock had risen nearly 6% at its intraday high of INR 855.50.

Information technology stocks were among the worst hit on likely profit booking as the Nifty IT had ended higher in nine of the past 10 sessions, gaining nearly 7% during that period. Tata Consultancy Services, LTIMindtree, and Oracle Financial Services Software ended lower by 1-2%.

Metal stocks also fell sharply, with Jindal Stainless, APL Apollo Tubes, and Lloyds Metals and Energy ending lower by 1-2%. Hindustan Zinc ended nearly 7% lower after parent company Vedanta sold 1.6% stake in the company at a discount through block deals on the exchanges.

Among the sectoral indices, Nifty Auto, Nifty Bank, Nifty Consumer Durables, and Nifty Private Bank ended in the green. Automobile stocks were among the top gainers on reports that India is looking at Australia as an alternative source for rare-earth magnets and reduce its dependence on China after the latter imposed restrictions on export of the mineral. Maruti Suzuki India, Eicher Motors, and Mahindra & Mahindra ended around 1% higher each.

Among other stocks, Trent ended nearly 2% higher after Citi retained its 'buy' rating on the stock with a target price of INR 7,600. Delhivery closed nearly 2% higher after the Competition Commission of India approved the company's acquisition of at least 99.44% stake in Gurugram-based Ecom Express. The stock had gained nearly 3% at its intraday high of INR 368.25. Avenue Supermarts closed 4% higher after media reports said the company had opened its first DMart store in Agra, Uttar Pradesh. The company already has stores in Ghaziabad. The new store in the state is a positive step, CNBC-TV18 reported Morgan Stanley as saying. The brokerage will closely track the company's pace of expansion in the state, where the opportunity to open stores remains large, the report said.

Adani Ports and Special Economic Zone ended over 1% lower after media reports said the company's cargo facility worth $4.2 billion in the Hafia Port in Israel was destroyed in missile strikes by Iran. Adani Ports and Israel's Gadot Group had completed the acquisition of Haifa Port from the Israel government in January 2023. Inventurus Knowledge Solutions, MMTC, and Max Healthcare Institute ended 4-8% lower and were the worst hit among Nifty 500 stocks.

* Of the Nifty 50 stocks, 14 rose and 36 fell 

* Of the Sensex stocks, 9 rose and 21 fell

* On the NSE, 1,026 stocks rose, 1,851 fell, and 78 were unchanged

* On the BSE, 1,530 stocks rose, 2,450 fell, and 135 were unchanged

* Nifty Consumer Durables: up 0.8%; Nifty Private Bank: up 0.4%; Nifty Media: down 1.3%

BSE                                               NSE

Sensex: 81444.66, down 138.64 points or 0.2%      Nifty 50: 24812.05, down 41.35 points or 0.2%

End

Edited by Ashish Shirke

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