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Stock Market Highlights, June 21: Indian bourses settle lower; Nifty holds 23,500

Stock market Highlights on Friday, June 21: On BSE, Bharti Airtel, Infosys were among the top gainers while UltraTech Cement and L&T were among the top laggards

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Closing Bell on Friday, June 21, 2024: Benchmark indices settled lower on Friday. The BSE Sensex closed 269.03 points or 0.35 per cent lower at 77,209.90 levels. Nifty50, on the other hand, slipped 65.90 points or 0.28 per cent to 23,501 levels.

On BSE, Bharti Airtel, Infosys were among the top gainers while UltraTech Cement and L&T were among the top laggards.

Similarly, on NSE, Bharti Airtel and LTIMindtree were among the top gainers while UltraTech Cement and Adani Ent were among the top laggards.

Broader markets also settled lower. Nifty MidCap slipped 0.08 per cent while SmallCap fell 0.17 per cent.

Sectorally, Nifty Media was the top gainer, up 0.95 per cent, followed by IT (up 0.76 per cent). FMCG, meanwhile, was the top loser (down 1.20 per cent).

3:44 PM

Tech View: Nifty might fall towards 22,750 in the short term

Nifty has been hovering within the 23300 to 23600 range, indicating indecisiveness, which sets the stage for a very volatile monthly expiry.

A decisive move above 23600 might take the index towards 24000 in the short term, whereas failure to hold above 23300 might trigger panic in the market. Below 23300, the Nifty might fall towards 22750 in the short term.

(View By: Rupak De, Senior Technical Analyst, LKP Securities)
3:42 PM

Comment: Market witnesses profit booking amid slow monsoon progress

The domestic market witnessed minor profit booking amid concerns over the slow progress of the monsoon, resulting in underperformance in the FMCG sector. The heatwave in Northern India is driving consumer durables stocks up. The global markets were subdued as weak guidance from Accenture led to profit booking in US tech stocks.

Conversely, domestic IT stocks saw buying interest as market participants appeared to have factored in weaker earnings. Attention is now focused on the upcoming GST meeting, where the potential rationalization of GST rates in certain sectors is under discussion.

(Comeent By: Vinod Nair, Head of Research, Geojit Financial Services.)
3:39 PM

Nifty Realty, FMCG lead sectoral losses

3:38 PM

Bharti Airtel, LTIMindtree top gainers on NSE

3:36 PM

Ultratech Cement, L&T end 2% lower on Sensex

3:35 PM

Broader market check

3:34 PM

Closing Bell: Nifty holds 23,500

3:32 PM

Closing Bell: Sensex ends 269 points lower

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Asian markets update

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First Published: Jun 21 2024 | 7:43 AM IST

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