Stock Market Today: Nifty 50, the benchmark index of the Indian equity market, snapped a five-session winning streak on profit booking at high levels on Wednesday, June 19. Shares of some large companies including Reliance Industries, Larsen & Toubro and Bharti Airtel were the biggest drag on the index.
Indian stock markets halted record gains in the past few sessions as investors across segments booked profits amid a weak global economy and lack of fresh domestic catalysts.
The market has priced in most of the positive factors and is now focusing on policy announcements and the upcoming budget, with experts predicting that the market will have limited upside potential until the budget is announced in July.
“Ahead of the budget announcement, the market may see stock and sectoral moves on expectations that the government may increase spending on sectors to boost growth,” said Prashant Tapse, senior vice president (research) at Mehta Equities.
The Nifty 50 fell 42 points or 0.18 percent to close at 23,516, while the Sensex rose nominally 36 points or 0.05 percent to close at 77,337.59.
(To be continued)
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Published date: June 19, 2024 3:32 PM
