New Delhi, June 5 (H.S.): The domestic equity market closed lower on Friday amid heightened volatility, weighed down by the Reserve Bank of India’s downward revision of GDP growth projections, concerns over elevated inflation, sharp selling in information technology and metal stocks, and weak global cues.

The benchmark indices had opened on a positive note, with buying support initially strengthening both the BSE Sensex and the NSE Nifty. However, the momentum proved short-lived.

Selling pressure intensified after the Reserve Bank of India unveiled its monetary policy decision along with updated projections on inflation and economic growth. As a result, both the Sensex and the Nifty slipped into negative territory. Throughout the trading session, persistent tug-of-war between buyers and sellers kept the indices fluctuating. At the close, the Sensex ended down 0.16 percent, while the Nifty declined 0.21 percent.

During the day, strong buying interest was witnessed in media, real estate, and consumer durables stocks. Banking, automobile, FMCG, and healthcare indices also finished in positive territory. On the other hand, energy, telecom, and IT stocks remained under sustained selling pressure. Similarly, metal, oil and gas, public sector enterprise, technology, and capital goods indices closed in the red.

The broader market also remained under pressure. The Nifty Midcap Index ended 0.35 percent lower, while the Nifty Smallcap Index closed down 0.06 percent.

Despite the volatile session, investors' wealth increased marginally. The total market capitalization of companies listed on the BSE rose to ₹461.59 lakh crore (provisional) at the end of trading, compared with ₹461.45 lakh crore in the previous session. As a result, investors gained approximately ₹14,000 crore during the day.

A total of 4,399 stocks were actively traded on the BSE. Of these, 2,056 advanced, 2,138 declined, and 205 remained unchanged. On the NSE, 2,999 stocks witnessed active trading, with 1,384 ending higher and 1,615 closing lower. Among the 30 Sensex constituents, 13 stocks advanced while 17 declined. Similarly, among the 50 Nifty constituents, 23 closed in positive territory and 27 ended lower.

The BSE Sensex opened 269.93 points higher at 74,629.94. Soon after trading commenced, intense competition between buyers and sellers led to sharp fluctuations in the index. Supported by buying interest, the Sensex surged as much as 357.56 points to touch an intraday high of 74,717.57. However, increased selling pressure dragged it down by 371.26 points to an intraday low of 73,988.75. After a volatile session, the index settled 116.67 points lower at 74,243.34.

Similarly, the NSE Nifty opened 62.40 points higher at 23,478.95. As bullish and bearish traders battled for dominance throughout the day, the index experienced continuous swings. Buying support pushed the Nifty up by 99.80 points to an intraday high of 23,516.35. Conversely, intensified selling pressure pulled it down by 133.90 points to an intraday low of 23,282.65. At the close, the Nifty finished 49.85 points lower at 23,366.70.

Among the heavyweight stocks, Adani Enterprises gained 2.54 percent, followed by Hindustan Unilever at 2.02 percent, Adani Ports and Special Economic Zone at 1.86 percent, Bajaj Finance at 1.72 percent, and Axis Bank at 1.52 percent, making them the day's top five gainers.

On the losing side, Hindalco Industries declined 2.93 percent, followed by Wipro at 2.91 percent, Trent Limited at 2.23 percent, Coal India at 1.94 percent, and Tata Consultancy Services at 1.88 percent, placing them among the session’s top five losers.

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Hindusthan Samachar / Jun Sarkar