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Indian equity benchmarks, Sensex and Nifty, are poised for a cautious yet positive start on Thursday
Stock market updates
Sensex Today: Indian equity markets closed sharply lower on Wednesday, June 12, as widespread selling pressure dragged key indices into the red. The BSE Sensex tumbled 823.16 points, or 1%, to settle at 81,691.98 after hitting an intraday low of 81,523.16. The NSE Nifty50 dropped 253.2 points, or 1.01%, to close below the psychological 25,000 mark at 24,888.20.
Broader markets underperformed the benchmarks, with the Nifty Midcap100 and Nifty Smallcap100 indices slipping 1.73% and 1.90%, respectively.
All sectoral indices ended in negative territory. Nifty Realty was the worst performer, declining 2.02% as stocks like Phoenix Mills, Godrej Properties, Anant Raj, DLF, Prestige, Sobha, Brigade, and Macrotech Developers fell up to 3%. Other notable losers included Nifty Energy, Consumer Durables, Oil & Gas, Auto, PSU Bank, FMCG, Metal, and Financial Services—each shedding more than 1%.
Among Sensex constituents, 27 out of 30 stocks ended in the red. Tata Motors, Titan, Power Grid, Tata Steel, Larsen & Toubro, and Mahindra & Mahindra were among the top laggards, each losing over 2%. Bajaj Finserv, Asian Paints, and Tech Mahindra were the only stocks that managed to post gains.
The market mood remained jittery amid weak global cues, rising geopolitical tensions, and selling across the board. Reflecting investor anxiety, the India VIX—commonly referred to as the fear gauge—rose 2.54% to 14.01, indicating elevated market volatility.
Domestic Focus
CPI Data in Spotlight India’s consumer price inflation for May is expected to have cooled to a six-year low of 3%, aided by a favourable base and easing food prices, according to a Reuters poll. This aligns with the RBI’s surprise 50 basis point repo rate cut last week, aimed at supporting growth amid a disinflationary trend.
Global Market Cues
Asia-Pacific markets traded mixed on Thursday as investors evaluated the US President Donald Trump’s announcement that a trade agreement with China was ‘done,’ though key details and implications left room for caution.
Trump indicated that Chinese imports would face a total tariff rate of 55 per cent, a level later confirmed by the US Commerce Secretary Howard Lutnick.
Last checked, Nikkei was down 0.75 per cent, while the broader Topix dropped 0.43 per cent. ASX200 was trading flat with a negative bias. Kospi, bucking the trend, rose 0.4 per cent.
Meanwhile, US stock futures edged lower as markets digested the tentative trade deal and fresh inflation data. Futures tied to the S&P 500 and Nasdaq 100 were down 0.2 per cent, while Dow Jones futures dropped 0.2 per cent.
The US consumer price index (CPI) rose just 0.1 per cent in May, below the 0.2 per cent forecast, while core CPI, which strips out food and energy, also came in weaker than expected. The modest inflation reading added to the cautious tone across global markets.
On Wall Street, major indexes closed slightly lower overnight, pausing after a recent rally. Dow Jones ended flat with a negative bias, S&P 500 slipped 0.27 per cent, and Nasdaq closed 0.5 per cent lower. President Trump noted on Truth Social that the trade deal with China is “done, subject to final approval with President Xi and me.” The deal reportedly includes upfront Chinese supply of rare earths and magnets, while the US will ease restrictions on Chinese students studying in the US. Trump further said, “We are getting a total of 55 per cent tariffs, China is getting 10 per cent.”
Additionally, US PPI and core PPI figures for May, and initial jobless claims for the week ended June 7 will also be eyed.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
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