After opening the day marginally higher, the benchmark indices dragged as the session progressed and ended the day lower.

Indian equity market indices settled off day's lows on the back of gains in auto and private bank stocks.

At the closing bell, the BSE Sensex closed lower by 138 points (down 0.2%).

Meanwhile, the NSE Nifty closed 41 points lower (down 0.2%).

IndusInd Bank, Titan, M&M among the top gainers today

TCS, Adani Port, and HUL, on the other hand, were among the top losers today.

The GIFT Nifty was trading at  24,814, lower by 49 points at the time of writing.

The BSE MidCap index and BSE SmallCap index ended 0.3% Lower.

Sectoral indices were trading mixed today, with stocks in the auto sector and the consumer durable sector witnessing buying. Meanwhile, stocks in the metal sector and the IT sector witnessed selling pressure.

The rupee is trading at Rs 86.3 against the US$.

Gold prices for the latest contract on MCX are trading 0.2% lower at Rs 99,738 per 10 grams.

Meanwhile, silver prices were trading 0.5% higher at Rs 109,525 per 1 kg.
 

Vedanta Sells Stake in Hindustan Zinc

In news from the mining sector, Mining company Vedanta is selling a part of its stake in Hindustan Zinc to reduce debt and improve its financial health.

Vedanta Ltd has sold 1.6% of its stake in subsidiary Hindustan Zinc by selling 66.7 million shares to institutional investors.

Vedanta sold its stake in Hindustan Zinc for Rs 30.3 billion (bn), which will help strengthen its finances. Additionally, Vedanta will receive Rs 26.8 bn from Hindustan Zinc's recent dividend payout.

Vedanta plans to split its business into five separate units, Vedanta, and four other subsidiaries focused on aluminium, power, iron & steel and oil & gas.

Vedanta shares were steady with a slight upward trend after the company announced an interim dividend of Rs 7 per share for FY 2026.
 

Waaree Energies Slumps on US Plan

Moving on to news from the electronic equipment sector, shares of Waaree Energies dropped more than 2% on 18 June 2025, extending its two-day losing streak after a US Senate panel's proposal to phase out solar and wind energy tax credits completely by 2028.

Waaree Energies' shares fell in line with some of its Wall Street counterparts that were also affected by the proposal. First Solar's shares dropped by almost 18%, while Solaredge Technologies' shares declined as much as 33%.

In contrast to the current law, which would phase out solar and wind energy tax credits beginning in 2032, the US Senate panel's draft bill would phase them out, reducing them to 60% in 2026 and doing away with them completely by 2028.

Hydropower, nuclear, and geothermal facilities, on the other hand, would continue to receive 100% tax credits until 2033 before gradually ceasing to perform by 2036. This bill amends President Trump's earlier plan to stop funding these businesses during the Biden administration.

Since Waaree Energies operates a significant number of operations in the US, its margins may be affected by the phase-out of tax credits. The company was the first Indian renewable energy company to construct a PV module manufacturing facility in Brookshire, Texas, and earlier this year announced that it had started commercial production of solar modules at its US manufacturing facility.

Maruti Suzuki Gains on Rare Earth News

Moving on to news from the auto sector, shares of Maruti Suzuki surged 2% to Rs 12,841 in on June 18. This is the fourth consecutive session that the company has rallied, following the reports that the Indian government is looking at Australia as a possible alternative for sourcing rare-earth magnets, as India seeks to diversify its supply chain.

The development is especially significant for Maruti Suzuki, the largest automobile manufacturer in India, as it prepares to launch the E-Vitara, its first electric vehicle.

Only last week the company's sources discussed delaying the launch and lowering the production target due to the shortage of rare-earth magnets.

To reduce reliance on China, the government is promoting recycling and boosting the domestic production of rare earth magnets under the National Critical Minerals Mission.

This action comes after China restricted the export of rare earth magnets, which are essential parts for electric vehicles. Indian automakers Bajaj Auto, TVS Motor Company, and Maruti Suzuki have concerns about possible production halts caused by supply chain disruptions.

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