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FILE PHOTO: People work at an National Stock Exchange (NSE) stall | Photo Credit: FRANCIS MASCARENHAS
Benchmark indices traded lower at mid-session on Tuesday as investors engaged in profit-booking following a sharp rally in the previous session. Market experts suggest that investors have turned cautious in view of the ongoing conflict between Israel and Iran.
Sensex fell 312.27 points or 0.38 per cent to 81,483.88 as at 1.09 pm, close to its day’s low of 81,427.01; Nifty 50 tanked 116.85 points or 0.47 per cent to 24,829.65.
Devarsh Vakil, head of prime research at HDFC Securities, said, “Trump’s latest comments urging Iranians to evacuate Tehran have kept investors on edge regarding the geopolitical outlook and could add to the pressure on markets.”
Both mid-cap and small-cap indices traded in the red, down 0.57 per cent and 0.63 per cent, respectively. The volatility index was down 2.05 per cent at 14.53.
On the sectoral front, only IT and defence stocks showed resilience, while all the other indexes traded in negative territory.
Pharma, healthcare, and metal stocks declined over 1 per cent.
Shares of Tech Mahindra, Infosys, Asian Paints, HCL Tech and Wipro led the gainers among Nifty50 components, while Sun Pharma, Bajaj Finance, Shriram Finance, ONGC and Cipla were the major laggards.
IT majors, Tech Mahindra and Infosys traded with an over 1 per cent increase at the time of writing.
On the flip side, Sun Pharma and Bajaj Finance fell 2 per cent. Catch live updates
Shriram Finance, ONGC and Cipla depreciated close to 2 per cent.
Of the 2,771 stocks that were traded on the National Stock Exchange, only 920 stocks advanced, while 1,766 declined.
While Mazagon, Supreme Industries, Policy Bazaar gained 2-4 per cent among midcaps, Vishal Mega Mart, Aurobindo Pharma, Waaree Energies and Lupin declined 3 per cent.
IKS, Nuvama, Sagility and MGL gained among smallcaps, while Reliance Power, IGIL, Hindustan Copper, Tata Teleservices and Aster DM tanked 4-5 per cent.
IT stocks shined despite a market slump, with Tech Mahindra, Persistent Systems, Infosys, LTIMindtree trading with over 1 per cent gains.
The Nifty defence index was up 0.31 per cent. Mazagon Dock, GRSE, Data Patterns, Solar Industries and Bharat Dynamics led the gainers, with a 1-6 per cent increase.
Defence stocks look promising due to the ongoing geopolitical tussle between Iran and Israel, according to Sankhanath Bandyopadhyay, Economist at Infomerics Valuation and Ratings Ltd. “Investors should carefully assess the financials and outlook of such stocks before investing, and there should be a judicious mix so that a healthy dividend can also be earned,” Bandyopadhyay added.
Bharat Electronics, Aditya Birla Capital, Arkade, Dodla, Cosmo First, Intellect Design and MCX were among the 50 stocks that hit a 52-week high, while 18 stocks hit a 52-week low.
About 71 stocks hit the upper circuit and 43 hit the lower circuit.
On the BSE, Sterlite Technologies jumped 13 per cent. Happiest Minds rallied 9 per cent, while Dodla, CRISIL and Orient Cement zoomed 5 per cent.
On the losing side, SCI, Jubilant Ingrevia, Vesuvius India and Star Health slumped 4-7 per cent.
Published on June 17, 2025
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