Stock Market: Sensex tanks 573 pts, Nifty at 24,718

Weak global cues led to a gap-down start for the Nifty; however, selective buying in heavyweights helped trim some of the losses as the session progressed.

By Connect Gujarat Desk 13 Jun 2025 in Business

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Stock Market: Sensex tanks 573 pts, Nifty at 24,718

Markets extended Thursday’s decline and ended lower, shedding over half a percent.

Weak global cues led to a gap-down start for the Nifty; however, selective buying in heavyweights helped trim some of the losses as the session progressed.

Eventually, the index settled at 24,718.60, down 0.68 per cent. Most sectors mirrored the overall trend, with FMCG and banking emerging as the top laggards.

The broader indices also remained under pressure, losing nearly half a percent each.

The initial reaction was largely driven by a sharp rise in crude oil prices due to geopolitical tensions in the Middle East. However, a moderation in CPI inflation helped limit the downside.

On the technical front, the Nifty slipped below its short-term moving average (20 DEMA) once again but witnessed a swift rebound after testing the lower end of the recent consolidation range (24,500–25,200). This suggests a possibility of continued consolidation in the index.

Given the prevailing scenario, traders should maintain a balanced approach with positions on both sides, focusing on stock selection driven by sectoral and thematic trends. It is advisable to avoid aggressive bets and manage risk prudently.

#Nifty #Sensex #Stock market