Monthly Wrap-Up: Nifty Falls Most in 23 Months, Sensex Tumbles, Nifty Auto Zooms

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Monthly Wrap-Up: Nifty Falls Most in 23 Months, Sensex Tumbles, Nifty Auto Zooms
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Domestic equity indices ended a choppy session on a flat note, giving up gains on Thursday, as banking, financial and select mega-cap stocks supported the market, while metal and IT sectors dragged the overall sentiment.

Benchmark indices Nifty50 lowered 0.12% and Sensex closed flat on Thursday. 

The broader index Nifty50 recorded its steepest monthly decline in June since March 2020, with over 80% of constituents declining in the month. 

The 30-scrip index Sensex fell over 4.5% in June, eroding a total of more than Rs 14 lakh crore of investor wealth. The index hit a fresh 52-week low in the month.

Amid all sectors listed under the Nifty basket, Nifty Metal tanked over 12% in the month, becoming the worst sectoral performer, and falling 27.4% in the quarter. The BSE Metals index too dived over 12%, with Vedanta (NS: VDAN ), National Aluminum Co. (NS: NALU ), Hindalco (NS: HALC ), Hindustan Zinc (NS: HZNC ) and Tata Steel (NS: TISC ) being the top losers.

Nifty Bank slipped almost 6% in the month, its steepest fall in 7 months. Of all the sectors under the Nifty umbrella, Nifty Auto was the only one posting gains in June, rising for the third consecutive month, with stocks like Maruti Suzuki (NS: MRTI ) and M&M (NS: MAHM ) surging nearly 7%, which were also the top Nifty50 gainers in June.

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