Stock Market Highlights: Nifty snaps 6-day winning streak but holds on to levels above 20-DMA

Sensex Today | Stock Market Highlights: The markets closed sharply lower on Thursday, with the Nifty snapping its six-day gaining streak amid widespread selling pressure. Weakness was visible across sectors, with the Nifty Bank falling 377 points to 56,083 and the Midcap index plunging 947 points to 58,441, marking a nearly 2% drop in the broader market.

Among the key laggards, Tata Motors emerged as the top Nifty loser, slipping 3.5% ahead of Jaguar Land Rover’s investor meet scheduled for June 16. Other major drags on the index included Trent, Shriram Finance, Titan, and Coal India.

In the Midcap space, Paytm fell 7% after the Finance Ministry clarified its stance on merchant discount rates (MDR), which weighed on investor sentiment. Oil marketing companies also took a hit, with stocks dropping up to 6% in line with global crude price movements. Capital market-related stocks continued their downward trajectory, with CAMS, BSE, and CDSL shedding between 4% and 6%.

CE Info Systems tumbled 10% after a 5% equity change via block deals. However, Asian Paints managed to end with minor gains, supported by block deals worth ₹7,700 crore.