Stock Market Closing, 23rd June, 2023: Indian stock markets closed lower on the final and second consecutive business day of the week as investors sold off. After today’s decline, investor wealth has fallen to 289.47 lakh crore.
Today, the Sensex fell by 259.52 points to close at 62979.37 points. While Nifty also closed at 18665.50 points with a decrease of 105.75 points. Adani Enterprises, Adani Ports, BPCL, Hindalco Industries and Divis Labs were the top losers on the Nifty, while IndusInd Bank, Dr. Reddy’s Laboratories, Bharti Airtel, Asian Paints and NTPC rose. The BSE midcap and smallcap indices fell by more than one percent each.
Why did the market close lower?
In the second and last consecutive trading session of the week, the Indian stock market closed lower on profit booking pressure. Mid-cap IT stocks, including consumer durables and IT stocks, led the market lower.
Consumer durables, IT, banking energy, auto, metals, FMCG, infra, media and real estate stocks also closed lower in today’s trade. Oil and gas sector stocks also closed lower. Only pharma stocks have seen a boom. Mid-cap stocks have seen big declines for the second day in a row. The Nifty Mid Cap Index closed down 435 points at 34,800. The small cap index also closed down 126 points or 1.17 percent. Out of 30 Sensex stocks, 7 stocks closed higher and 23 closed lower. While out of 50 stocks of Nifty, 10 stocks closed higher and 40 closed lower.
How did today start?
The Sensex opened down 141.82 points or 0.22% at 63,097.07 and the Nifty down 50.10 points or 0.27% at 18,721.20 this morning. Asian Paints, ICICI Bank, Dr. Reddy’s Labs, L&T and JSW Steel were the top gainers on the Nifty, while Adani Enterprises, ONGC, Adani Ports, BPCL and Hindalco Industries were the top losers.
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