The Indian stock market benchmarks, the Sensex and Nifty 50, were up with healthy gains of over half a per cent around noon on Thursday, 25 June, according to reports from Mint. The positive momentum was supported by a further decline in crude oil prices, growing chatter around anti-AI trade, and a stable rupee. The Nifty 50 breached the psychologically important 24,200 during the session, with experts believing that if the index sustains above this level, it may further rise to 24,300 in the near term. However, this positive performance comes against the backdrop of significant foreign investor selling pressure, with FPIs selling Indian equities worth ₹63,450 crore during the first half of June.
According to Mint reports, Vodafone Idea, Motherson Sumi Wiring India, Tata Silver Exchange Traded Fund, Tata Gold Exchange Traded Fund, Nippon India Silver ETF, YES Bank, Suzlon Energy, and IRFC were among the most traded stocks on the NSE. Additional stocks including Vedanta Iron and Steel, SEPC, GTL Infrastructure, Nippon India ETF Gold Bees, Roto Pumps, Ola Electric Mobility, HFCL, Pine Labs, Motisons Jewellers, IFCI, and Vedanta were also among the most traded stocks on the exchange. The trading activity reflects broader market dynamics amid ongoing foreign investor outflows.
As reported by Mint, Vodafone Idea saw more than 14 crore shares change hands as the stock declined about 1% during the session. According to latest reports from HDFC SKY, the stock has declined 5.2% over the past week, continuing its downward trajectory despite earlier gains. The persistent negative sentiment reflects ongoing concerns about the company's financial position and dependence on external capital support. This short-term weakness comes against the backdrop of a much sharper medium-term rally, with the stock having surged nearly 80% in less than three months before recent consolidation and profit-taking set in.
According to Mint reports, Motherson Sumi Wiring India saw over 11 crore shares change hands as the stock surged over 10% during the session. As reported by HDFC SKY, the stock zoomed as its investor meeting started today, with the company having risen 9% over a week ahead of the investor meeting. The company, which sells wiring harnesses to several major carmakers, has fallen almost 16% this year so far but has risen nearly 5% over a month. The positive sentiment ahead of the investor meeting contributed significantly to the increased trading activity and positive market response.
According to NSDL data, Foreign Portfolio Investors (FPIs) sold Indian equities worth ₹63,450 crore during the first half of June, with outflows spanning most major sectors. The Financial Services sector recorded the highest FPI selling with net outflows of ₹11,263 crore, followed by the Oil, Gas & Consumable Fuels sector witnessing outflows of ₹10,488 crore. The Automobile & Auto Components sector saw FPI outflows of ₹9,044 crore, while the Information Technology sector witnessed selling worth ₹6,733 crore during the period. The Fast-Moving Consumer Goods sector recorded outflows of ₹5,063 crore, with the Metals & Mining and Healthcare sectors witnessing FPI selling of ₹4,722 crore and ₹4,501 crore respectively. Despite the broad-based selling trend, the Telecommunication sector emerged as the top gainer, receiving net FPI inflows of ₹373 crore.
