Today’s 0.7% decline in benchmark domestic market indices prolonged their losing run for a fourth straight session. The BSE Sensex closed at 74,267 after losing 508 points. The NSE Nifty closed at 23,383 after falling 165 points.Deeper cuts eliminated the National Stock Exchange’s overall market. The Smallcap 100 index fell 0.9%, while the Midcap 100 index shed more than 1.4%.Due to encouraging signals from Asian markets, stocks began June on a bullish note earlier today. But by midday, they had changed their direction, and for the remainder of the session, they were under selling pressure.
Twenty-four of the thirty companies in the Sensex pack reported losses on their shares. Hindustan Unilever fell more than 2.8%, ITC fell more than 2.5%, and NTPC lost more than 2.1% among the top underperformers. On the other hand, TCS increased by more than 1.9%, Infosys increased by 3.7%, and Tech Mahindra increased by 3.8%.Twenty-one of the twenty-five sectors in the BSE’s sectoral indices gave in to selling pressure. Power lost 2.9%, Capital Goods fell more than 2.4%, and Utilities and Industrials fell 2.1% among the biggest laggards. On the other hand, Metal increased by 0.9%, IT increased by 2.4%, and Focused IT increased by more than 2.5%.
The BSE’s total market breadth was negative, with shares of 2,761 companies falling, 1,589 rising, and 199 staying the same.
