NIFTY50, SENSEX end 1% lower on June 8 as weak global cues dent investor sentiment

At 3:30 pm, the NIFTY50 index closed 1.04% or 243.70 points lower at 23,123 points on Monday, compared to 23,366.70 points at the previous market close, according to the exchange data.

Meanwhile, the BSE SENSEX index closed 0.97% or 719 points lower at 73,524.26 points after the trading session on Monday, compared to 74,243.24 points at the previous trading close.

The benchmark indices witnessed significant downward pressure due to the sudden rise in crude oil prices after the latest round of attacks in West Asia, foreign investors' outflows from emerging markets, heavy profit booking amongst Asian stocks, and a weaker rupee.

The profit booking in Asian markets results in the KOSPI index dropping over 8% in the morning market hours as technology stocks weighed down investor sentiment.

The Indian rupee was trading weaker at around 95.23 against the US dollar due to the heightened demand for the greenback in the global market amid the uncertainty and the risk sentiment.

The Indian market sentiment was further weakened due to the elevated oil prices in the market, to the tune of Brent crude oil trading above $97 per barrel on Monday’s trading session.

Top gainers & losers on June 8

Max Healthcare, Power Grid Corp., Bharti Airtel, Bharat Electronics (BEL), Nestle India, and Tech Mahindra were among the top gainers on the benchmark NIFTY50 index as of the stock market close on Monday.

Max Healthcare shares gained 2.9%, Power Grid Corp. gained 1.5%, Bharti Airtel gained 1.2%, BEL gained 1%, Nestle India gained 0.9%, and Tech Mahindra gained 0.9% after the stock market close on June 8.

Other stocks like Wipro, Jio Financial Services, Eternal, Hindalco, Shriram Finance, and Adani Enterprises were among the top losers on the benchmark stock index on Monday’s market.

Wipro lost 8.4%, Jio Financial Services lost 3.6%, Eternal lost 3.6%, Hindalco lost 3.6%, Shriram Finance lost 3.1%, and Adani Enterprises lost 2.8% after the trading session on June 8.

Out of the 50 stocks listed on the NIFTY50 index, only nine stocks ended with gains, while the remaining 41 stocks closed in the red zone after the volatile trading session.