Indian stock market shares eased today (June 10) after hitting record highs, with IT stocks falling amid concerns over potential US rate cuts. Benchmark indices surged initially led by Reliance Industries Ltd and Axis Bank Ltd, following Narendra Modi’s third term oath-taking. NSE Nifty 50 reached a new high of 23,411.90, and Sensex touched 77,079.04.
Major gainers on the Nifty included Adani Ports, Power Grid Corp, Bajaj Auto, Coal India, and Shriram Finance, while Tech Mahindra, Infosys, Dr Reddy’s Labs, LTIMindtree, and Hindalco were among the biggest losers. All sectoral indices, except IT and metal, traded in the green.
On Friday (June 7), BSE Sensex hit a new peak of 76,795.31, ending at 76,693.36, up 2.16%.
In global markets, the euro weakened as French President Macron announced a snap election post-European Parliament elections. Stock market in China, Hong Kong, Taiwan, and Australia were closed for holidays. Yield on 10-year Treasuries rose, influenced by a strong US jobs report, while oil steadied after a weekly drop, ahead of key industry reports and the Fed’s rate decision.