Sensex Ends 178 Pts. Lower, Nifty Drops Below 15,700; Broader Mkts Underperform

Indian benchmark indices after opening lower in trade today (June 17, 2021), tracking weakness in the global market, continued to be volatile ahead of the weekly F&O expiry.

At the close, Sensex settled weak by 178 points at 52,323, while Nifty ended at 15,691 . Nifty Bank and Nifty Midcap 100 though continued to underperform the headline indices with a drag of over 1 percent on each of the indices. India VIX, a measure of volatility in the stock markets, went higher by 2.76%.

Among the Nifty sectoral indices, weakness persisted in all of the sectors barring FMCG and IT space. Metal pack has been the laggard in today's session with a fall of over 2 percent, followed by realty and PSU bank space.

Top gainers during trade today have been TCS, UltraTech Cement, Tech Mahindra, Asian Paints and Tata Consumer Products, while losers include Adani Ports, Tata Steel, IndusInd Bank, Eicher Motors and Hindalco.

Adani Group shares continued to drift lower for the fourth consecutive session with a drag of up to 7 percent in early trade. Notably on Monday after reports suggested that NSDL has frozen 3 FPI accounts holding Adani Group shares, there was seen a huge sell-off in the Adani Group shares.

Rally was seen in the liquor stocks which gained up to 20 percent owing to robust earnings and expectations of improved demand for high price and premium liquor.

Meanwhile, European markets are also trading on a subdued note after the US Fed has advanced its timeline for rate hike to 2023. At the time of writing this copy, FTSE is down by up to 0.51%.

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