As on June 30, the market cap of all BSE-listed companies slipped to Rs 243.65 lakh crore, down by over 13 lakh crore in a month’s time. During the month, Sensex also hit a new 52-week low of 50,921.22.
On Friday, the benchmark indices gave up gains after a volatile session, with the Sensex settling marginally below the flatline at 53,018.94. Its broader peer, Nifty50, shed 18.85 points to close at 15,780.25. The index has posted the highest decline in a month since March 2020, as 80 per cent of Nifty‘s constituents declined in June.
Only 11 stocks from the 30-share pack, including , SBI, and , managed to end with gains. On the flip side, , Bajaj twins, M&M and were top laggards, falling around 2 per cent each.
As metal prices began to soften amid fears of recession in the US and even globally, metal stocks took a hit while shares of auto companies, which use metals as a raw material, went up.
Among sectors, BSE Auto was the sole index that will end June month in green. The index was up by around 2 per cent this month.
, M&M, and were among the toppers in auto pack.
The worst sectoral performer was BSE Metal as the index nosedived over 12 per cent. , Nalco, , Tata Steel and were among the top losers in the pack.
Other top sectoral losers include consumer durables, bank stocks, realty, IT and PSU stocks.
The midcap and smallcap indices fared poorly as compared to the headline index. Both BSE Midcap and BSE Smallcap indices were down at a similar figure of around 5.5 per cent.
Among Nifty stocks, top monthly gainers were Mahindra & Mahindra and Maruti Suzuki which gained around 7 per cent each. Other gainers include
and ITC. The long list of wealth eroders include , UPL, Tata Steel, , Tech Mahindra, and – all ended with double-digit cuts.
US Fed’s rate tightening cycle, fears of recession and the unending war between Russia and Ukraine have made foreign investors jittery, leading to outflows for the ninth consecutive month in June.
Besides the mood of FIIs and central bankers, the performance of the domestic stock market in July would also depend a lot on how the Q1 earnings season turns out to be and the management commentaries around the impact of inflation and growth outlook.