Taking Stock: Nifty ends at around 24,850, Sensex down 213 pts; pharma stocks worst hit

About this update from Navin Fluorine International Limited

Indian equity indices erased some of the previous session gains to end lower in the volatile session on June 17 amid Middle East tensions. At close, the Sensex was down 212.85 points or 0.26 percent at 81,583.30, and the Nifty was down 93.10 points or 0.37 percent at 24,853.40.The broader indices underperformed the main indices with BSE midcap index and smallcap indices falling 0.5 percent each.Stocks & Sectors in ActionTop Nifty losers were Adani Enterprises, Dr Reddy's Labs, Sun Pharma, Eternal, ONGC, while gainers were Tech Mahindra, Infosys, Asian Paints, TCS, Maruti Suzuki.On the sectoral front, pharma index shed 2 percent after US President Donald Trump reportedly said that "pharma tariffs are coming very soon".Among others, except IT, all other sectoral indices ended in the red with metal index shed 1 percent, while auto, consumer durables, realty, oil & gas, PSU Bank down 0.5 percent each.Axiscades Technologies gained 5% on MoU with European firm to develop systems in India, Vishal Mega Mart shares rose 4% as shares worth Rs 10,488 crore exchanged, Tanla Platforms shares added 2% after board approves Rs 175 crore buyback at 33% premium, Ram Informatics share price jumped 20 percent on winning Rs 474 crore order for installing rooftop solar projects.Nearly 80 stocks on the BSE touched their 52-week highs, including Maharashtra Scooters, Navin Fluorine, Aditya Birla Capital, Intellect Design, Solar Industries, Muthoot Finance, Lloyds Metals, Bharat Electronics, Max Healthcare, Laurus Labs, among others. Click to View MoreGlobal MarketsUS stocks closed higher on Monday, as oil prices retreated after the Israel-Iran attacks left crude production and exports unaffected, easing investor concerns about the potential for higher energy prices to stoke inflation. However, European stocks were trading lower amid escalating conflict between Israel and Iran, while Asian markets ended mostly higher.Outlook for June 18Aditya Gaggar Director of Progressive SharesThe positive momentum seen previously fizzled out within just one trading session. Following a muted start, the market experienced a steep decline in the initial trade and remained rangebound for the rest of the day, ultimately ending the session at 24,853.40 with a loss of 93.10 points.Except for the IT sector, all the other sectors concluded the session in negative territory, with Pharma and Metal being...

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