Markets opened on a positive note on June 1, but turned volatile through the session, with investors booking profits across banking, auto and consumer-focused stocks. The BSE Sensex fell 573 points, or 0.74%, to close at 77,332, while the NSE Nifty50 declined 169 points to settle below the 23,550 mark.
Concerns over foreign capital outflows, elevated oil prices and uncertainty surrounding global geopolitical developments triggered broad-based selling during the second half of trade.
Infosys, TCS and HCLTech emerged as key gainers, benefiting from renewed interest in export-oriented sectors amid global market uncertainty and expectations of stable earnings growth. Among the biggest laggards on the Sensex pack were IndusInd Bank, Trent, Adani Ports, Mahindra & Mahindra and Bajaj Finance, which came under significant pressure.
Experts said the market was also impacted by concerns over the monsoon outlook and the potential inflationary impact of rising crude prices. Higher oil costs could increase India’s import bill and put pressure on corporate margins, prompting investors to adopt a cautious approach.
The broader market also witnessed weakness, with several mid-cap and small-cap stocks trading lower. Traders noted that portfolio adjustments linked to index rebalancing and month-end positioning added to volatility during the session.
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