Stock market today: Market benchmarks, the Sensex and the Nifty 50, extended losses for the second consecutive session on Tuesday, 30 June, on losses led by IT heavyweights, including Infosys, TCS, and HCL Tech.
The Sensex ended 250 points, or 0.33%, lower at 76,478.67, while the Nifty 50 dropped 81 points, or 0.34%, to settle at 23,865.75. Over the last two sessions, the 30-share pack and its NSE counterpart have shed 0.80% each.
While the benchmarks saw profit-taking, the mid- and small-cap segments saw healthy buying on Tuesday. The Nifty Midcap 100 index climbed 0.37%, while the Smallcap 100 index jumped 1.02%.
Thanks to gains in broader markets, the overall market capitalisation of BSE-listed firms rose to nearly ₹474 lakh crore on Tuesday from ₹473.7 lakh crore in the previous session.
Meanwhile, the Indian rupee declined 15 paise to close at 94.65 per dollar. Brent crude traded with mild gains above $73 per barrel.
Why did the Sensex and the Nifty 50 fall today?
Frontline indices ended lower due to losses in heavyweight sectors like banking, IT, and FMCG. Infosys, ICICI Bank, TCS, Reliance, SBI, and ITC ended as the top drags on the Sensex index.
Banking and FMCG counters are witnessing profit booking amid concerns over the slow progress of the monsoon. IT stocks were under pressure amid lingering concerns about weak demand and AI-led disruption, which could drag the sector’s profitability.
Moreover, geopolitical uncertainties continue weighing on sentiment. Reports suggest that US Special Envoy Steve Witkoff is travelling to Doha, Qatar, where talks between the may continue. On the other hand, an Iranian delegation will reportedly visit Doha to follow up on the 14-point Memorandum of Understanding (MoU).
“Although geopolitical concerns have eased, the fragile nature of the US–Iran peace deal continues to weigh on sentiment, preventing any meaningful directional move. 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,” Vinod Nair, Head of Research, Geojit Investments, noted.
“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,” Nair added.
Nair believes the stability in crude oil prices and the Indian rupee, as well as a recent moderation in FII outflows, may offer near-term support to the Indian stock market, with large caps likely to outperform.
Top Nifty gainers and losers today
Eicher Motors, Tata Consumer, TCS, Infosys, Wipro, HCL Technologies, and Tech Mahindra ended as the top laggards in the Nifty 50 index.
On the other hand, Maruti Suzuki India, Titan Company, Bajaj Finance, Adani Enterprises, and Eternal ended as the top gainers in the index.
25 stocks ended higher, and as many ended lower in the index.
Sectoral indices today
Nifty IT suffered a strong loss of 2.73%, ending as the top loser among sectoral indices. Nifty FMCG shed 0.68%.
Bank Nifty dropped 0.32%, and the Financial Services index declined 0.16%.
However, Nifty Realty (up 1.31%) and Consumer Durables (up 1.16%) ended with strong gains.
Most traded stocks today
Vodafone Idea, Ola Electric Mobility, Vedanta Iron and Steel, YES Bank, Saksoft, and Suzlon Energy were the most traded stocks in volume on the NSE.
More than 160 stocks hit 52-week highs
Apollo Hospitals Enterprise, Federal Bank, Aurobindo Pharma, GMR Airports, FSN E-Commerce Ventures (Nykaa), Phoenix Mills, and Zydus Lifesciences were among the 162 stocks that hit their 52-week highs on the BSE.
On the other hand, Infosys, TCS, HCL Tech, Wipro, Persistent Systems, and ONGC were among the 91 stocks that hit their 52-week lows in intraday trade on the NSE.
Nifty 50 technical view
As per Shrikant Chouhan, the head of equity research at Kotak Securities, 24,000 would act as a crucial resistance level.
“A successful breakout above 24,000 could push the market up to 24,150-24,200. On the flip side, if the market falls below the 50-day SMA (simple moving average) or 23,800, selling pressure is likely to accelerate, and the market could retest levels of 23,650-23,600,” said Chouhan.
Ajit Mishra, SVP- Research at Religare Broking, said Nifty may consolidate until it decisively breaks out of the broader 20-day and 100-day EMA range of 23,800–24,200.
Vipin Kumar, AVP- Equity Research and PMS at Globe Capital Market, said a decisive break below the 23,800 spot level could drag the index down toward 23,600–23,500. Conversely, cross and sustenance above 24,000 could push it back toward the upper band of the range at 24,260.
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