Domestic market ends in loss to day 3 amid broad-sector selloff

The domestic share market indices traded lower for a third consecutive day on Tuesday, pressured by broad-based selling, excluding real estate stocks, outweighing hopes of a rate cut by the Reserve Bank of India.At close, the Sensex was down 636.24 points or 0.78 percent at 80,737.51, and the Nifty was down 174.10 points or 0.70 percent at 24,542.50. About 1701 shares advanced, 2148 shares declined, and 134 shares unchanged.
Grasim Industries, Shriram Finance, M&M, Bajaj Auto, Cipla were the top gainers on the Nifty while losers included Adani Ports, Bajaj Finserv, Adani Enterprises, Coal India, Power Grid. On the sectoral front,realty index rose 1 percent, while bank, capital goods, consumer durables, IT, oil & gas, power, private bank, PSU bank indices down 0.5-1 percent. BSE Midcap index shed 0.5 percent, while smalllcap index ended flat.
Rupee Close:
On 3 June'25,the Indian rupee declined 21 paise to settle at 85.60  against the US dollar on Tuesday, weighed down by a firm American currency and outflow of foreign funds. According to forex traders, the local unit remained under pressure tracking negative domestic equity markets amid geopolitical uncertainties. Investors are also awaiting cues from the Reserve Bank's monetary policy announcements.
Trading Guide:
Vinod Nair, Head of Research, Geojit Investments reportedly quoted as saying,the domestic market remained in negative terrain amid mixed global cues, geopolitical issues and a volatile currency market led by a weak USD. Profit booking is evident across sectors, except for real estate stocks, supported by expectations of an interest rate cut by the RBI. Mid- and small-cap stocks are experiencing relatively less consolidation than large caps due to better earnings growth & moderation in premium valuation.While short-term consolidation is likely to persist, strong domestic oriented players are estimated to provide outperformance against external volatility.
Market experts recommended five shares to buy- Jubilant Ingrevia, IDBI Bank, SBFC Finance, JM Financial, and City Union Bank.

(Business Correspondent)