New Delhi, 09 June (H.S.):
The domestic equity market closed firmly higher on Tuesday amid expectations of easing tensions between Israel and Iran and a decline in crude oil prices. Both benchmark indices opened in positive territory. However, heavy selling in information technology stocks during the first half of trading erased early gains and briefly pushed the market into negative territory. Buying interest strengthened after 11:30 a.m., helping the benchmarks recover and finish the session with solid gains. At the close, the BSE Sensex rose 0.54 percent, while the NSE Nifty advanced 0.52 percent.
Most sectoral indices ended the day in positive territory. Banking, automobile, and capital goods stocks witnessed strong buying throughout the session. Consumer durables, FMCG, healthcare, metals, oil and gas, and public sector enterprise indices also closed higher. On the other hand, persistent selling in IT stocks dragged the Nifty IT Index down by 0.48 percent and the BSE Tech Index lower by 0.60 percent.
The broader market also remained upbeat. The Nifty Midcap Index closed 1.35 percent higher, while the Smallcap Index surged 1.69 percent by the end of trading.
The market rally significantly boosted investor wealth. The total market capitalization of companies listed on the BSE rose to ₹459.75 trillion (provisional) at the close of trading, compared with ₹454.40 trillion in the previous session. As a result, investors gained approximately ₹5.35 trillion in a single trading day.
During the session, 4,398 stocks were actively traded on the BSE. Of these, 2,782 advanced, 1,423 declined, and 193 remained unchanged. On the NSE, 2,975 stocks were actively traded, with 2,151 ending higher and 824 closing lower. Among the 30 Sensex constituents, 18 stocks gained while 12 declined. Similarly, 29 of the 50 Nifty constituents closed in positive territory, while 21 ended lower.
The BSE Sensex opened 511.15 points higher at 74,035.41. Soon after the opening bell, selling pressure emerged, causing the index to lose momentum. By 11:30 a.m., the benchmark had fallen more than 600 points from its intraday high and slipped 98.08 points into the red at 73,426.18. Thereafter, renewed buying helped the index recover. Sustained purchases in the second half enabled the Sensex to rebound nearly 500 points from its day's low and settle 394.50 points higher at 73,918.76.
Similarly, the NSE Nifty opened 136.05 points higher at 23,259.05. Persistent selling in IT stocks weakened the index during the morning session. Shortly before noon, the benchmark had fallen more than 150 points from its opening level and touched an intraday low of 23,104.45, down 18.55 points.
Subsequent buying interest reversed the trend, allowing the index to recover nearly 175 points from its day's low. The Nifty climbed to an intraday high of 23,279.40, up 156.40 points. Minor profit-booking during intraday settlement trimmed some gains, and the index eventually closed 119.10 points higher at 23,242.10.
Among the market heavyweights, InterGlobe Aviation emerged as the top gainer, rising 4.08 percent. It was followed by Jio Financial Services, up 2.34 percent; Eicher Motors, up 2.17 percent; State Bank of India, up 2.11 percent; and ICICI Bank, which gained 1.98 percent.
On the losing side, ONGC declined 2.13 percent, followed by Titan Company, down 2.09 percent; NTPC, down 1.86 percent; Power Grid Corporation, down 1.58 percent; and Tech Mahindra, which fell 1.30 percent.
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Hindusthan Samachar / Jun Sarkar
