Sensex Down by 452 points
Shrikant Chouhan,
Head Equity Research,
Kotak Securities
Mumbai, June 30, 2025: Today, the benchmark indices witnessed profit booking at higher levels. The Nifty ends 121 points lower, while the Sensex was down by 452 points. Among sectors, the PSU Bank index outperformed, rallying 2.6 percent, whereas intraday profit booking was seen in banking and financial stocks. Technically, after a muted open, the market witnessed consistent profit booking at higher levels. A bearish candle on daily charts indicates temporary weakness. However, the short-term market outlook remains positive.
We believe that 25,470/83500 will act as a key level to watch. Below 25,470/83500, we could see a further correction towards 25,375–25,300/83200-83000. On the flip side, a sustained move above 25,470/83500 could push the market up to 25,600/83900. Further upside may also continue, potentially lifting the market to 25,700/84200.
Gaurav Garg, Lemonn Markets Desk, adds: “India’s benchmark equity indexes edged lower on Monday, as profit-taking in heavyweight financials near all-time highs overshadowed optimism stemming from easing geopolitical tensions and sustained foreign inflows.
Nifty 50 was down 0.47% at 25,517.05, while the BSE Sensex slipped 0.54% to 83,606.46. The decline comes after a strong June performance, with both benchmarks up approximately 3.5% for the month and nearly 15% since March, now trading just 2.5% shy of their record highs.
Sectorally, losses were broad-based with 7 of the 13 major indices in the red. Financials, which recently touched record levels, led the decline, with the Nifty Financial Services Index falling 0.6%. Heavyweight HDFC Bank, the largest constituent of both indices, slipped 0.7%, contributing significantly to the drag.
Despite the pressure on large caps, broader markets outperformed. The Nifty Smallcap 100 rose 0.5% and the Nifty Midcap 100 gained 0.6%, signaling continued investor interest in mid- and small-cap segments.
Many promoters, private equity funds, and early-stage foreign investors are likely booking profits as indices approach record highs and valuations begin to stretch.
Globally, other Asian markets remained subdued, while the U.S. dollar softened following weaker-than-expected U.S. jobs data, which has raised hopes of deeper rate cuts by the Federal Reserve."
