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Informist, Thursday, Jun. 19, 2025

By Gopika Balasubramanium

MUMBAI – After moving in a thin range, benchmark equity indices closed slightly lower Thursday due to a lack of fresh triggers. This is the third straight session the benchmark indices have ended lower. Information technology stocks were the biggest drag on the indices, while a rise in automobile stocks limited a further fall. The heightened tensions between Israel and Iran and the risk of a further rise in crude oil prices kept the market sentiment weak, analysts said.

However, the Indian equity market performed better than its peers in Asia-Pacific and Europe, where indices fell on the US Fed's comments on rising inflation and uncertainty about economic growth. Heightened tensions in West Asia also weighed on Asian and European indices, which traded in the red on Thursday.      

The Nifty 50 ended at 24793.25 points, down 18.80 points or 0.1%. The 50-stock index, which moved in a narrow range of about 130 points, failed to close above psychologically important levels of 25000 points for the sixth straight session. Analysts said there are no positive triggers as of now to lift the Nifty 50 to 25000 points. 

The BSE Sensex closed at 81361.87 points, down 82.79 points or 0.1%. Mid- and small-cap indices faced selling pressure and underperformed the benchmark indices on Thursday. The small-cap indices, such as Nifty Smallcap 50, Nifty Smallcap 100, and Nifty Smallcap 250, closed nearly 2% each. 

Information technology stocks were among the worst hit on Thursday due to weak sentiment as the US Federal Reserve expects inflation in the US to rise over the summer. However, media reports said global brokerages Morgan Stanley and CLSA are positive on the IT sector's growth outlook and raised target prices of some Indian companies. CLSA sees a "V-shaped recovery" for Indian IT companies, NDTV Profit reported. Morgan Stanley downgraded Tech Mahindra to 'underweight' from 'equalweight' but upgraded Wipro to 'equalweight' from 'underweight' and raised target prices by 2% and 23%, respectively. Tech Mahindra, Infosys, and Tata Consultancy Services ended 1-2% lower, while mid-caps such as Oracle Financial Services Software and Coforge closed 2-3% lower. Wipro was the only stock to close higher among its peers.    

Automobile stocks gained the most, with shares of Eicher Motors and Mahindra & Mahindra closing nearly 2% each. Others, such as Hero Motocorp and Maruti Suzuki India, closed 0.5-0.6% higher. Shares of automobile companies rose on media reports that India may source rare earth magnets from countries such as Australia, Argentina, Brazil, and Chile to hedge against supply chain risks. China, which produces around 60% of rare-earth magnets, has imposed restrictions on the export of these as a retaliation for the huge tariffs imposed on the country by the US. 

Among sectoral indices, the Nifty Auto gained the most and closed 0.5% higher, while the Nifty PSU Bank, the Nifty Media, and the Nifty Realty were the worst hit and ended 1.6-2.0% lower. The Nifty IT, the Nifty Metal, and the Nifty Energy ended nearly 1% down each. 

Siemens Energy India, which demerged from Siemens, got listed on the National Stock Exchange at INR 2,840 per share, a premium of nearly 15% to the discovery price of INR 2,479.20. Shares of the energy company ended over 10% higher on debut. 

* Of the Nifty 50 stocks, 22 rose and 28 fell 

* Of the Sensex stocks, 12 rose and 18 fell

* On the NSE, 516 stocks rose, 2,363 fell, and 75 were unchanged

* On the BSE, 959 stocks rose, 3,018 fell, and 140 were unchanged

* Nifty Auto: up 0.5%; Nifty Infrastructure: down 0.2%; Nifty PSU Bank: down 2.0%

BSE                                               NSE

Sensex: 81361.87, down 82.79 points or 0.1%       Nifty 50: 24793.25, down 18.80 points or 0.1%

End

Edited by Saji George Titus

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