Indian equity markets ended lower on Tuesday, June 30, as selling pressure in information technology stocks weighed on benchmarks, while electric vehicle (EV) companies emerged as bright spots after the Delhi government announced a new EV policy aimed at boosting adoption and improving air quality, according to Business Today.
The Nifty closed at 23,865.75, declining 80.50 points or 0.34 per cent, slipping below the key 24,000 mark. The Sensex settled at 76,478.67, down 249.70 points or 0.33 per cent. Despite weakness in frontline indices, broader markets showed resilience: the Nifty Smallcap 100 gained 1.02 per cent, while the Nifty Midcap 100 rose 0.37 per cent, indicating continued investor interest in mid- and small-cap stocks.
EV stocks gain momentum after Delhi policy announcement
Shares of EV-focused companies rallied after the Delhi government unveiled its new electric vehicle policy on Monday to accelerate clean mobility adoption in the national capital, as reported by Business Today.
Ola Electric shares ended 8.37 per cent higher at Rs 43.76 apiece, while Ather Energy gained 5.24 per cent to close at Rs 1,140.55. The policy announcement provided support to EV stocks even as the broader market remained under pressure, with analysts pointing to continued investor confidence in India's long-term electric mobility growth story.
However, several traditional automobile companies remained under pressure. Hero MotoCorp declined 0.30 per cent, Bharat Forge slipped 0.96 per cent, and Eicher Motors dropped 4.38 per cent (also appearing in the top losers list). Meanwhile, Tata Motors gained 1.87 per cent and Bosch rose 0.29 per cent.
IT stocks emerge as biggest drag
The IT sector was the biggest laggard during Tuesday's session, with the IT index falling more than 2 per cent according to Business Today. Among major losers on the BSE were Infosys, ITC, HCL Tech, TCS, and Tata Steel. On the Nifty50, IT stocks dominated the losers list: Infosys was down 3.51%, TCS fell 3.17%, Wipro lost 2.91%, HCL Tech dropped 2.78%, and Tech Mahindra declined 2.03%.
Nifty50 top gainers and losers
Business Today reported the top ten gainers and losers on the Nifty50 for June 30.
Nifty50 top gainers
| Company Name | Current Price (Rs) | Price Change | % Change |
|---|---|---|---|
| Maruti Suzuki | 14,115 | 703.00 ↑ | 5.25% ↑ |
| Titan Company | 4,404 | 127.00 ↑ | 2.97% ↑ |
| Adani Enterprises | 3,036 | 73.50 ↑ | 2.49% ↑ |
| Bajaj Finance | 1,005 | 22.70 ↑ | 2.32% ↑ |
| Tata Motors | 352.20 | 7.15 ↑ | 2.08% ↑ |
| Eternal | 264.60 | 5.21 ↑ | 2.01% ↑ |
| Adani Ports SEZ | 1,810 | 34.10 ↑ | 1.92% ↑ |
| Nestle India | 1,405 | 17.90 ↑ | 1.30% ↑ |
| Bajaj Finserv | 1,780 | 20.90 ↑ | 1.19% ↑ |
| InterGlobe | 5,368 | 53.20 ↑ | 1.01% ↑ |
Nifty50 top losers
| Company Name | Current Price (Rs) | Price Change | % Change |
|---|---|---|---|
| Eicher Motors | 7,074 | -353.00 ↓ | -4.75% ↓ |
| Infosys | 1,000 | -36.31 ↓ | -3.51% ↓ |
| Tata Consumer | 1,076 | -37.21 ↓ | -3.35% ↓ |
| TCS | 2,032 | -66.41 ↓ | -3.17% ↓ |
| Wipro | 170.39 | -5.10 ↓ | -2.91% ↓ |
| HCL Tech | 1,072 | -30.61 ↓ | -2.78% ↓ |
| Tech Mahindra | 1,405 | -29.10 ↓ | -2.03% ↓ |
| Max Healthcare | 1,129 | -20.66 ↓ | -1.80% ↓ |
| HUL | 2,118 | -33.11 ↓ | -1.54% ↓ |
| Dr. Reddy's | 1,357 | -18.61 ↓ | -1.36% ↓ |
Sensex top gainers and losers
Sensex top gainers: Maruti Suzuki (5.25%), Titan Company (2.97%), Bajaj Finance (2.32%), Eternal (2.01%), Adani Ports SEZ (1.92%), Bajaj Finserv (1.19%), InterGlobe (1.01%), Trent (0.75%), Bharti Airtel (0.60%), NTPC (0.16%).
Sensex top losers: Infosys (-3.51%), TCS (-3.17%), HCL Tech (-2.78%), Tech Mahindra (-2.03%), HUL (-1.54%), ITC (-1.29%), ICICI Bank (-0.90%), SBI (-0.89%), Kotak Bank (-0.83%), Axis Bank (-0.82%).
Broader market context
Broader indices outperformed as the Nifty Smallcap 100 gained 1.02% and the Nifty Midcap 100 rose 0.37%, according to Business Today. This divergence suggests that while large-cap IT stocks faced headwinds, investor appetite for mid- and small-cap stocks remained strong. The EV sector's rally on policy support provided a counterbalance to the IT weakness, with Ola Electric and Ather Energy seeing significant gains.
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