NewKerala.com

Key Points

The Sensex closed 123 points higher at 82,515 after a volatile session. IT and auto stocks led the gains, while midcaps and smallcaps faced selling pressure. Analysts suggest the market is cautiously awaiting US inflation data and trade developments. The rupee also strengthened slightly to 85.44 against the dollar.

Key Points: Sensex gains 123 points amid volatility as IT and auto stocks rise

  • Sensex rises 123 points despite midcap sell-off
  • IT and auto stocks outperform while PSU banks lag
  • Investors await US inflation data and trade updates
  • Rupee strengthens to 85.44 amid FII inflows
2 min read

Sensex ends in green amid volatility, investors await key macroeconomic data

Sensex closes higher at 82,515 while midcaps decline. IT and auto stocks lead gains as investors await key economic data.

Sensex ends in green amid volatility, investors await key macroeconomic data
"Crucial support is placed at 24,850. As long as the index holds above this level, the trend is likely to remain positive. – Rupak De, LKP Securities"

Mumbai, June 11

The Indian stock market closed in the green after a volatile session on Wednesday, as Sensex rose 123.42 points or 0.15 per cent at 82,515.14 and Nifty was up 37.15 points or 0.15 per cent at 25,141.40.

Selling was seen in midcap and smallcap stocks. The Nifty Midcap 100 index was down 293.25 points or 0.49 per cent at 59,388.15 and the Nifty smallcap 100 index was down 101.05 points or 0.53 per cent at 18,798.75.

On a sectoral basis, IT, auto, pharma, realty and energy were the top gainers and PSU Bank, financial services, FMCG, metal and media indices closed in the red.

HCL Tech, Infosys, Tech Mahindra, Bajaj Finserv, Tata Motors, Eternal (Zomato), ICICI Bank, UltraTech Cement and Titan were the top gainers in the Sensex pack. Power Grid, IndusInd Bank, Nestle, HUL and HDFC Bank were the top losers.

Nifty remained volatile throughout the session, reflecting cautious sentiment in the market.

“Crucial support is placed at 24,850. As long as the index holds above this level, the trend is likely to remain positive, with potential to move towards 25,350 in the short term,” said Rupak De from LKP Securities.

According to analysts, profit-booking continues in the broader markets, driven by elevated domestic valuations. However, large-cap resilience is supporting the indices, with institutional investors favouring companies with stable earnings outlooks.

“The auto and IT sectors remain in focus — auto stocks are gaining on improved monthly sales, while IT are benefiting from optimism around a potential US-China trade resolution,” said Vinod Nair, Head of Research, Geojit Investments Ltd.

Meanwhile, following the recent rally, the market lacks clear direction as investors await key macroeconomic data and updates on trade negotiations.

“US inflation data is expected to show a slight uptick, driven by recent tariff increases,” he added.

Meanwhile, the Indian rupee traded positive with gains of 0.10 at 85.44, supported by sustained FII and DII buying activity, even as the dollar index remained flat. The currency is expected to move within a range of 85.25 to 85.85, said analysts.

- IANS

Share this article:

Reader Comments

R
Rahul K.
Good to see Sensex holding steady despite global uncertainties! But the midcap and smallcap sell-off is concerning for retail investors like me. Hope the market stabilizes soon 🤞
P
Priya M.
IT stocks performing well is no surprise - our tech companies always bounce back! But why are PSU banks underperforming again? Need better reforms in banking sector.
A
Amit S.
Volatility is making me nervous! Should I book profits or hold? Experts say support at 24,850 is crucial - let's see if Nifty can break 25,350 resistance. Fingers crossed!
N
Neha T.
Auto sector doing well makes sense with new model launches and festival season coming. But market needs clear direction - too much dependence on US data these days 😕
S
Sanjay V.
Rupee holding steady is good news! But 85+ levels still hurt imports. RBI should intervene more aggressively to keep it below 85. Our forex reserves are healthy enough for this.
K
Kavita R.
Market experts keep changing their views every day - first they said midcaps were undervalued, now profit booking is happening. Retail investors like us get confused! 😅

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Leave a Comment

Minimum 50 characters 0/50