Closing Bell: Markets end lower for the sixth consecutive session, Nifty falls below 15300

Domestic equity bourses Sensex and Nifty 50 fell on Friday reflecting a sell-off on Wall Street as nervousness set in most global markets amid worries about a looming recession.

Indian equity market extended its fall for the sixth straight session today, marking the worst week in over two years. In global markets as well, the stocks headed for their weakest performance this week since the pandemic meltdown hit the bourses in March 2020. Owing to these developments headline indices ended lower for the sixth consecutive session.

At the closing bell on June 17, the Sensex was down 135.37 points or 0.26% at 51,360.42, and the Nifty was down 67.10 points or 0.44% at 15,293.50. On the market breadth, around 1082 shares have advanced, 2162 shares declined, and 95 shares are unchanged.

Top Nifty losers of the day include Titan Company, Wipro, HDFC Life, Shree Cements and BPCL, while top gainers were Bajaj Finance, Bajaj Finserv, Coal India, JSW Steel and ICICI Bank. In the buzzing stock, Reliance Industries surged by 2% after Jio reported maximum monthly user additions.

On the sectoral front, IT, healthcare, power, capital goods, FMCG, oil & gas fell 1-2% each, while buying was seen in the metal and banking sectors. In the broad markets, the BSE midcap and smallcap indices ended in the red.

Market participants remained on the edge about future economic growth as UD Fed decided to raise the lending rates gradually this year. Along with the Fed rate rise, the biggest since 1994, the Swiss Bank as well hiked the rates after 15 years, followed by a fifth rate rise by the British banks since December.

In global markets, the stocks traded flat on Friday incurring a weekly loss of 5.5%