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Indian market resisted lifetime highs on Monday as selloffs in banking, auto, FMCG, and capital goods dragged performance, with Sensex and Nifty 50 ending in the red. Bajaj twins, Adani Enterprises, Adani Ports, Kotak Bank, Tech Mahindra, and TCS were among most active stocks today.
Tata Consumer, Grasim, and JSW Steel were among the top gainers in Nifty 50, while Bajaj Finance, IndusInd Bank, and Bharti Airtel were among the top losers.
Foreign institutional investors continued to buy Indian equities for the second consecutive day, with an inflow of nearly INR1,715cr ($230m) on 16 June. The Sensex rose to 63,228.51, up by 85.35 points or 0.14%, while the Nifty 50 closed at 18,755.90, up by 39.75 points or 0.21%.
FIIs buying slowed on Thursday after the RBI maintained a status quo. However, DIIs turned net sellers in Indian equities. Both Sensex and Nifty 50 ended in the red dragged by auto, banking, IT, and healthcare stocks.
Indian markets fall despite in-line monetary policy outcomes by RBI, disappointing traders who expected more optimistic revision in inflation outlook.