Sensex ends 250 points lower, Nifty below 23,900; Maruti Suzuki gains 5%

The BSE Sensex fell 249.70 points, or 0.33%, to close at 76,478.67, while the NSE Nifty50 declined 80.50 points, or 0.34%, to settle at 23,865.75.

In Short

• IT stocks led losses with Nifty IT down 2.08%, Infosys dropped 3.49%
• Maruti Suzuki rose over 5%, Titan and Bajaj Finance also gained
• Crude prices fell, rupee slightly weaker at 94.66 against US dollar

The benchmark indices ended lower on the last trading session of June, with IT stocks leading the decline as investors turned cautious ahead of key US economic data and fresh signals on the Federal Reserve's interest rate path.

The BSE Sensex fell 249.70 points, or 0.33%, to close at 76,478.67, while the NSE Nifty50 declined 80.50 points, or 0.34%, to settle at 23,865.75.

The markets had opened in the green but erased early gains during the session. Despite Tuesday's decline, both benchmark indices ended the month in positive territory, helped by a sharp fall in crude oil prices, easing foreign investor outflows and policy measures that have supported the rupee.

IT stocks remained the biggest drag on Dalal Street. The Nifty IT index slipped 2.08%, with Infosys falling 3.49%, TCS declining 3%, HCLTech losing 2.82% and Tech Mahindra shedding 2.08%.

Among Sensex constituents, Infosys, TCS, HCLTech, Tech Mahindra, ITC and Hindustan Unilever were among the top losers. On the other hand, Maruti Suzuki surged over 5%, while Titan, Bajaj Finance, Eternal and Adani Ports also ended with healthy gains.

Among sectoral indices, Nifty IT emerged as the biggest loser, while auto, FMCG, financial services and metal indices also closed lower. Realty and consumer durables were among the few sectors that managed to end in the green.

Broader markets also remained under pressure. The Nifty 100, Nifty 200 and Nifty 500 indices fell up to 0.29%, while the Nifty Smallcap 100 bucked the trend to end 0.27% higher. India VIX, the market's fear gauge, rose 2.16%, indicating increased investor caution.

Brent crude traded around $73.25 per barrel, remaining below levels seen before the Iran conflict. Crude has fallen sharply from its April peak, improving India's inflation and current account outlook. Meanwhile, the rupee ended slightly weaker at 94.66 against the US dollar, compared with the previous close of 94.54.

WHY DID THE MARKET FALL?

Market participants remained cautious as uncertainty over the US interest rate trajectory continued to weigh on global technology stocks.

Vinod Nair, Head of Research, Geojit Investments Limited, said the market continued to remain range-bound despite easing geopolitical tensions.

"The domestic market remained in a consolidation phase, trading within a narrow range and exhibiting a mixed trend. Although geopolitical concerns have eased, the fragile nature of the US–Iran peace deal continues to weigh on sentiment, preventing any meaningful directional move.

"Sectoral performance was mixed but tilted to the downside, with IT emerging as the primary drag. Investors are closely monitoring the upcoming US employment data and commentary from the new Fed Chair for cues on the interest rate trajectory, as inflation remains above target while economic activity continues to expand at a healthy pace.

"On the domestic front, the current monsoon trend—pointing to a worst deficit in a decade—raises concerns about agricultural output and allied sectors, further impacting sentiment amid expectations of weak Q1FY27 earnings. However, stability in crude oil prices and the Indian rupee, along with a recent moderation in FII outflows, are expected to provide near-term support to the market, with largecaps likely to outperform."

(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)

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