MUMBAI: India’s benchmark stock indices closed lower on the last trading day of June, with IT stocks leading the losses as investors remained cautious ahead of key US economic data and signals on future interest rate decisions, according to media reports.
The BSE Sensex fell 249.70 points, or 0.33%, to close at 76,478.67. The NSE Nifty 50 lost 80.50 points, or 0.34%, to end at 23,865.75.
The market opened higher but lost its early gains during the session. Despite Tuesday’s decline, both benchmark indices ended June with monthly gains. According to media reports, lower crude oil prices, easing foreign investor selling and policy support for the rupee helped the market during the month.
IT stocks led the losses. The Nifty IT index dropped 2.08%, with major technology companies falling between 2% and 3.5%.
Among Sensex stocks, IT and FMCG shares were among the biggest losers. Maruti Suzuki gained more than 5%, while several auto and financial stocks also closed higher.
Most sectoral indices ended lower, with IT recording the biggest decline. Realty and consumer durable stocks were among the few sectors that closed in positive territory.
Broader markets also remained under pressure. The Nifty 100, Nifty 200 and Nifty 500 indices fell by up to 0.29%, while the Nifty Smallcap 100 gained 0.27%. India VIX, which measures market volatility, rose 2.16%, reflecting increased investor caution.
Brent crude traded at about $73.25 a barrel, remaining below levels seen before the Iran conflict. According to media reports, lower oil prices have improved India’s inflation and current account outlook. The rupee closed slightly weaker at 94.66 against the US dollar, compared with 94.54 in the previous session.
According to media reports, analysts said investor sentiment remained cautious due to uncertainty over US interest rates, global economic conditions and concerns about the monsoon. However, stable crude oil prices, a steady rupee and slower foreign investor outflows are expected to support the market in the near term.
Disclaimer: This content is based on media reports and market data available at the time of reporting and is for informational purposes only. Investors are advised to consult a qualified financial expert before making any investment decisions. VisionMP is not responsible for any loss arising from the use of this information.
