Domestic equity market loses the winning streak to end in red on 24th June, giving up the gains. BSE Sensex index fell 561 points to close Wednesday’s session at 34868 missing the 35000 marks. While NSE Nifty50 slips 165 points lower to 10305 holding grounds above 10300 level. Nifty50 index reclaimed 10500 level intraday forcing the investors to book profits.
Equity market drops 1.5% in Wednesday’s rally marking strong bull run in the last couple of sessions. The market opened positive with global cues but gradually shifted to a loss-making session as it progressed. Investors feared the expiry of monthly F&O derivatives by the end of the month pushing on to back foot. Rupee settles low against rising US Dollar index amid falling crude prices. The positive news of COVID-19 vaccine could not continue uplifting the economy sentiments.
Top Gainers: S&P BSE Sensex and Nifty50
In the BSE market, Chemcrux Enterprises surged the highest with 20%. Other top gainers in the list include Ginni Filaments, Rasi Electrodes, Asian Granito and Umang Dairies rising by 20%, 19.75%, 17.67% and 15.76% respectively. In the NSE market, Gallant Ispat Ltd. rose the most by 20%. Following that, Xpro India, Transformers, MRPL and JMC Project 19.85%, 18.54%, 18.27% and 13.08% respectively.
On BSE Sensex index, only seven stocks surged. Asian Paints topped the list by 3.73%. Followed by ITC, Nestle, Reliance and TCS gaining 3.17%, 0.98%, 0.42% and 0.34% respectively. On NSE Nifty50 index, ITC topped the list by 3.23%. Other stocks include Hero Moto Corp, Eicher Motors, Tata Motors and Tech Mahindra 3.10%, 3.05%, 0.38% and 0.38% respectively.
Losers: S&P BSE Sensex and Nifty50
In the BSE market, Indiabulls Housing lost the most by 14.07%. Subsequently, Competent Auto, Rane Madras, Morepan Laboratories and Astec Life losing 10.20%, 10.11%, 9.73% and 9.58% respectively. In the NSE market, KSS dropped the most by 16.67%. Other top losers include Suven Pharma, Beta Drugs, Kirloskar Industries and Shalimar Paints dipping by 10%, 9.20%, 8.90% and 8% respectively.
On BSE Sensex index, IndusInd Bank slumps by 7.43%. Other losers in the list include ICICI Bank, Axis Bank, SBI and Bharti Airtel losing 7.35%, 4.30%, 4.08% and 3.63% respectively. On NSE Nifty50 index, ICICI Bank slips by 7.46%. Meanwhile, Power Grid Corporation, Hindalco, Cipla and JSW Steel drop by 4.77%, 4.39%, 4.33% and 3.84% respectively.
FII and DII
Foreign Institutional Investors invested a considerable amount of INR 1766.9 crores in the domestic equity market following positivity and a good run. They bought stocks of value INR 8721.09 crores and disposed of INR 6954.19 crores in Wednesday’s session bringing in foreign funds and uplifting sentiments.
Domestic Institutional Investors took out a total value of INR 1524.9 crores of stocks from the market booking profits and lowering the market gains. They purchased shares of amount INR 4527.64 crores and sold-off INR 6052.54 crores of stocks making a dent in the equity market.