June 14, 2024
New Delhi, India
Indian benchmark indices closed on a positive note on June 14, with the Nifty hitting a fresh record high. The Sensex increased by 181.87 points, or 0.24%, to reach 76,992.77, while the Nifty climbed 66.70 points, or 0.29%, to end at 23,465.60. Market breadth was positive, with 2,177 shares advancing, 1,598 shares declining, and 106 shares remaining unchanged.
Market Performance
- Top Gainers on Nifty: Eicher Motors, M&M, Adani Ports, Shriram Finance, Titan Company.
- Top Losers on Nifty: TCS, Tech Mahindra, HCL Technologies, Wipro, Nestle.
- Sectoral Performance:
- Gainers: Auto, Telecom, Capital Goods, Healthcare, Metal, Oil & Gas, Power, Realty (0.5-1% up).
- Loser: IT (down 0.7%).
Midcap and Smallcap Indices
The BSE Midcap and Smallcap indices both gained 1%, reflecting robust performance across broader markets.
Market Highlights
- Intraday Records: The 50-stock Nifty index hit a new lifetime high of 23,490.40.
- Sectoral Highlights:
- Nifty Auto Index: Up 1.3%
- Nifty Realty Index: Up 0.8%
- Nifty Metal Index: Up 0.7%
The Sensex and Nifty50 continued their upward momentum for the third consecutive session, driven by strong performances in auto and realty stocks, despite the underperformance of IT stocks. Key performers included M&M, Titan, HDFC Bank, Reliance Industries, Tata Motors, JSW Steel, Bajaj Finance, Axis Bank, and Ultratech Cement.
Record Highs:
- BSE MidCap: Closed at 46,041.73.
- BSE SmallCap: Closed at 51,259.06.
Key Events and Market Sentiment
The upbeat sentiment was supported by positive cues from global markets and strong domestic economic indicators. The ongoing recovery in the auto sector and strong corporate earnings also contributed to the bullish trend. However, the IT sector lagged due to concerns over global tech spending.
Conclusion
The stock market closed on a high note, with major indices recording gains and hitting new highs. While IT stocks faced headwinds, the overall market sentiment remained positive, buoyed by strong performances in other sectors, particularly auto and realty. Investors will now look forward to key economic data releases and corporate earnings reports to gauge the market’s future direction.
Stay tuned for more updates on the stock market and financial news.
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