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Informist, Monday, Jun. 30, 2025

By Gopika Balasubramanium

MUMBAI – Benchmark equity indices closed lower on Monday, starting the week in the negative territory. The fall in the headline indices was likely due to profit-booking by traders, analysts said. These indices were higher for the last four days and had gained nearly 3% in this period. However, bucking the trend, mid- and small-cap indices closed higher. 

On Monday, the Nifty 50 closed at 25517.05 points, down 120.75 points or 0.5%. Financial services and automobile stocks were the biggest drags on the 50-stock index. The index is 760 points away from its all time hit on Sept. 27. The BSE Sensex closed at 83606.46 points, down 452.44 points or 0.5%. This index is short of over 2,300 points to breach its record high hit at the same day. Among the broader market indices, the small-cap indices performed better than mid-cap peers. The Nifty Smallcap 250 ended nearly 1% higher, while Nifty Midcap 150 ended 0.7% higher.

Shares of state-owned banks were in focus on Monday. All the constituents of the Nifty PSU Banks surged after a push from the finance ministry to lend more post the 50-basis-point cut in repo rate by the Reserve Bank of India so as to maintain growth momentum which was seen in 2024-25 (Apr-Mar) in a review meeting on Friday. The ministry also advised these banks to monetise their investments in joint ventures or subsidiaries through listing on the bourses, media reports said. 

The outlook for these banks remains positive as there is significant improvement in asset quality and also decline in non-performing assets of these banks, said Abhishek Pandya, a research analyst at BP Equities-owned StoxBox. "Growth is expected to be driven by rural demand, a revival in urban consumption, higher government capex, and a normal monsoon, while inflation is projected to stay within RBI's target range in FY26...," he said.  

The Nifty PSU Bank closed 2.7% higher and was the biggest gainer among the sectoral indices. Shares of large-cap State Bank of India closed nearly up 2%. Meanwhile, other mid- and small caps such as Bank Of Maharashtra, Punjab National Bank, Union Bank Of India, and Bank Of Baroda closed 3.1-5.2% higher.

Other sectoral indices such as Nifty Consumer Durables ended 0.7% higher. Dixon Technologies (India) and Kalyan Jewellers India closed 3.5% and 2.0% higher, respectively, and were the top gainers in the index. The 1-2% fall in shares of Century Plyboards (I), Amber Enterprises India, and Havells India, limited the sectoral index from rising further. The Nifty Pharma also gained slightly.

Meanwhile, the Nifty Private Bank and the Nifty Realty were the biggest laggards among the sectoral indices. The Nifty Priavte Bank index hit its record high at 28577.65 points earlier in the day but erased gains to end 0.9% lower at 28254.60 points. So did the Nifty Bank index, which rose slightly from Friday's close to hit a record high of 57614.50 points, but closed 0.2% lower at 57312.75 points. Analysts said the stocks pertaining to the sectors mentioned above have stretched valuations and sees limited upside for near term. 

Among stocks, J.B. Chemicals & Pharmaceuticals fell over 7% to an intraday low of INR 1,673 and remained at these levels through out the session. The sharp decline came after Torrent Pharmaceuticals said it would buy controlling stake in the company at INR 1,600 per share, an 11% discount to its spot price. J.B. Chemicals also reappointed its Chief Executive Officer Nikhil Chopra till 2030. J.B. Chemicals closed 7% lower while Torrent Pharmaceuticals closed 2% higher.  

Alembic Pharmaceuticals rose 14% in the session but came off highs and closed over 7% higher. The company Sunday said it got approval from the US Food and Drug Administration for its abbreviated new drug application for Doxorubicin Hydrochloride Liposome Injection. Tata Consumer Products closed more than 2% down. Brokerages see a negative impact on the company's 'ready to drink' beverage sales due to an early onset of the monsoon weighing on the company's Apr-Jun earnings. 

* Of the Nifty 50 stocks, 20 rose and 30 fell

* Of the Sensex stocks, 19 rose and 11 fell

* On the NSE, 1,756 stocks rose, 1,188 fell, and 108 were unchanged

* On the BSE, 2,365 stocks rose, 1,748 fell, and 177 were unchanged

* Nifty PSU Bank: up 2.7%; Nifty Consumer Durables: up 0.7%; Nifty Private Bank: down 0.9%

BSE                                               NSE

Sensex: 83606.46, down 452.44 points or 0.5%      Nifty 50: 25517.05, down 120.75 points or 0.5%

End

Edited by Akul Nishant Akhoury

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