Nifty 50 Slides 70 Points as Broader Market Weakens; Gains in Infosys, Asian Paints Provide Limited Cushion
By Ankur Chandra | Updated at: Jan 7, 2026 01:45 PM IST
Mumbai, June 17, 2025 : The Nifty 50 index retreated by 70.15 points or 0.28% by mid-morning trade on Tuesday, falling to 24,876.35 compared to the previous session’s close of 24,946.50. The decline came amid widespread weakness across key sectors and lacklustre market sentiment.
As of 11:59 AM IST on June 17, 2025, the Nifty 50 index was down by 78.25 points or 0.31%, trading at 24,868.25 compared to the previous close of 24,946.50. The index opened at 24,977.85, touched an intraday high of 24,982.05, and hit a low of 24,846.45 during the session. Despite the decline, the index remains above its 52-week low of 21,743.65, but continues to stay below the 52-week high of 26,277.35.
Market Breadth
By 11:14 AM, a majority of the Nifty constituents were under pressure. Out of the 50 stocks, 30 were in the red, 20 advanced, and none remained unchanged, indicating a negative market breadth and subdued investor confidence.
Index Snapshot
| Index Performance | Value |
|---|---|
| Previous Close | 24,946.50 |
| Opening Level | 24,977.85 |
| Intraday High | 24,982.05 |
| Intraday Low | 24,846.45 |
| Last Traded Price | 24,876.35 |
| % Change | -0.28% |
| Advance/Decline | 20 / 30 |
Top Performing Stocks
A handful of large-cap IT and paint companies managed to curb deeper losses in the index. Asian Paints led the limited uptrend alongside Infosys, Tech Mahindra, and HCL Technologies.
| Stock | Last Price (₹) | Change (₹) | % Change |
|---|---|---|---|
| Asian Paints | 2,274.80 | +30.00 | +1.34% |
| Infosys | 1,637.30 | +13.50 | +0.83% |
| Tech Mahindra | 1,706.50 | +12.60 | +0.74% |
| HCL Tech | 1,735.00 | +12.00 | +0.70% |
Top Losers
Selling pressure in key index heavyweights exerted downward force on the Nifty. Reliance Industries, HDFC Bank, TCS, and Bharti Airtel witnessed notable declines. Specific weakness was also observed in FMCG, pharmaceutical, and metal counters.
| Lagging Stocks | Last Price (₹) | Change (₹) | % Change |
|---|---|---|---|
| Sun Pharma | 1,650.00 | -35.30 | -2.09% |
| ONGC | 252.49 | -4.30 | -1.67% |
| Bajaj Finance | 922.50 | -15.50 | -1.65% |
| Cipla | 1,507.90 | -19.10 | -1.25% |
Sectoral Trends and Technical Picture
Losses were broadly spread across multiple sectors, with FMCG, financials, and energy witnessing the most pressure. From a technical standpoint, the index has corrected 5.33% from its 52-week peak of 26,277.35. However, it remains 14.4% higher than its 52-week low of 21,743.65, reflecting a still-positive longer-term trend.
Market Statistics
- Total Volume Traded: 90.46 million shares
- Turnover: ₹7,451.20 crore
Technical Outlook
Immediate support for the Nifty 50 is placed around the 24,800 level. On the upside, the index could face resistance in the 25,000 to 25,050 range. Investors are likely to remain cautious until fresh triggers emerge in the form of global market signals and domestic macroeconomic updates later this week.
Factors Driving Nifty 50 Decline
Geopolitical Tensions Trigger Crude Spike and Market Jitters
Heightened Middle East tensions, following fresh Iran-Israel conflict, weighed on global sentiment on June 17. U.S. evacuation advisories and restricted Gulf airspace pushed Brent crude up 1.8% to $77.80/barrel. For India, a major crude importer, this spike raised concerns over fiscal health and inflation, hitting oil-sensitive sectors like aviation and logistics.
Continued FII Selloff Dampens Sentiment
Foreign Institutional Investors sold equities worth ₹2,539 crore on June 16, pushing their 4-day outflows to ₹8,080 crore. Despite DIIs injecting ₹5,781 crore on the same day, sustained FII exits overshadowed domestic support, dragging frontline stocks and worsening market mood.
Autos and Metals Hit by Profit Booking
Aggressive selling hit auto and metal stocks. Tata Motors slumped nearly 8% over four sessions, while Nifty Auto and Metal indices dropped 1.2% and 1.5%, respectively. Global metal price weakness and sharp corrections in ONGC, BPCL, and HPCL led the Nifty Oil & Gas index down 1.65%.
Technical Breakdown Signals Caution
The Nifty 50 slipped below key support at 24,900, touching a low of 24,846.45. Falling below the 20-day EMA hints at more downside. Support now lies near 24,450-24,500, with stiff resistance seen between 25,000-25,050 due to high call writing.
Global Weakness, Derivatives Data Add Pressure
Global indices like the S&P 500 and Nasdaq futures fell 0.4-0.6%, while DAX and FTSE also opened weak. Options data showed strong call OI at 25,300-25,500, while puts clustered around 24,800-24,900, signalling capped upside and high volatility.
Macroeconomic Watch and RBI Outlook
Markets remain cautious ahead of WPI and trade data. RBI reiterated inflation vigilance in its latest update and ruled out rate cuts. Rising food and fuel inflation impacted banks and NBFCs, dragging the Nifty Bank index by over 0.75%, with HDFC Bank and Axis Bank posting sharp losses.
About the Nifty 50
The Nifty 50 is the flagship index of the National Stock Exchange (NSE), encompassing 50 blue-chip companies across 13 sectors. It serves as a widely-followed benchmark for market performance, frequently tracked by institutional investors, mutual funds, and ETFs for gauging overall market sentiment.
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