Top Stock Movers on June 12: Markets slipped sharply in the second half of the day following news of a London-bound Air India flight crash near Ahmedabad airport.
Benchmark indices closed sharply lower on June 12, ending a six-day winning streak. Rising tensions in the Middle East pushed crude oil prices higher, triggering a global risk-off sentiment that weighed heavily on Indian equities.
Markets saw a deeper slide in the second half of the session, with key indices falling by about 1% each. The Sensex tumbled 823 points to close at 81,692, while the Nifty 50 dropped 253 points to settle at 24,888. All major sectoral indices ended in the red, led by losses in real estate and consumer durables. Broader markets continued to underperform for the second day in a row, with both midcap and smallcap indices down nearly 2%.
Airline stocks tumbled during the afternoon session on June 12, following reports of a serious Air India crash. IndiGo shares dropped over 3% intraday, while SpiceJet slipped 1.5%. The decline came after a London-bound Air India flight carrying over 200 passengers crashed shortly after takeoff from Ahmedabad airport, in a densely populated area near the runway.
It wasn’t just airline stocks that took a hit—companies linked to flight bookings also saw sharp declines. IndiGo and SpiceJet fell up to 3%, while shares of online travel firms like Ixigo and Thomas Cook India dropped nearly 4% each. TBO Tek slid over 3%, and Mahindra Holidays lost more than 2.5%. EaseMyTrip and Yatra Online were also trading slightly lower. The sell-off likely reflects investor concerns that the flight crash could hurt sentiment around air travel.
Paytm shares dropped 10% intraday after the Finance Ministry clarified that no merchant discount rate (MDR) will be applied to UPI transactions. The clarification came in response to reports suggesting the government might introduce MDR on transactions above ₹3,000 to support banks and payment service providers. The ministry dismissed these reports, calling them ‘completely false, baseless, and misleading.
BSE shares dropped for the second day in a row on Thursday, falling over 7% intraday after being placed under the Additional Surveillance Measure (ASM) framework.
The drop comes after BSE was added to the ASM list on Wednesday, triggered by sharp price swings, heavy trading volumes, and concentrated client activity — all red flags that exchanges monitor to prevent excessive speculation. Under the ASM framework, trading in the stock now requires a 100% margin, according to a CNBC-TV18 report.
FMCG stocks took a hit on June 12, with the Nifty FMCG index falling for the second straight day after a strong five-day rally. Dabur led the losses, slipping nearly 3% to become the biggest drag on the index.
IT stocks fell on June 12 as investor sentiment took a hit from uncertain U.S. tariff policies and rising geopolitical tensions. Coforge led the losses, ending nearly 2% lower.
Defence stocks came under pressure again, marking the fourth decline in five sessions as investors continued to book profits. Garden Reach Shipbuilders (GRSE) dropped over 4%, while Mazagon Dock Shipbuilders fell more than 3%.
Asian Paints shares rose nearly 2% intraday, marking their biggest single-day gain in a month. The surge came after a large block deal saw around 3.5 crore shares change hands on the exchanges.
About 3.5 crore shares—nearly 3.64% of Asian Paints’ total equity—were traded in a large block deal worth approximately ₹7,703 crore, according to exchange data. The deal was executed at ₹2,201 per share.
Sources: Moneycontrol
