June 28, 2024
New Delhi, India
The Indian stock market concluded a volatile session on June 28, with the Sensex dropping by 210.45 points or 0.27% to close at 79,032.73. Meanwhile, the Nifty fell by 33.90 points or 0.14% to settle at 24,010.60.
Market Highlights
Top Gainers and Losers:
- Nifty Gainers: ONGC, Dr. Reddy’s Labs, Reliance Industries, SBI Life Insurance, Tata Motors.
- Nifty Losers: IndusInd Bank, Bharti Airtel, Axis Bank, ICICI Bank, Kotak Mahindra Bank.
Sector Performance:
- Gainers: Healthcare, metal, PSU bank, oil & gas, and realty sectors saw gains ranging from 0.5% to 1%.
- Losers: The banking index dropped by 1%, and the capital goods index shed 0.4%.
Midcap and Smallcap Performance:
- The BSE midcap and smallcap indices each added 0.5%.
Intraday Movements
Late Trading Surge: In the late trading session, both Sensex and Nifty edged up. At 2:25 PM, Sensex was at 79,459.59, up by 216.41 points or 0.27%, and Nifty was at 24,116.20, up by 71.7 points or 0.3%.
Top Movers in Nifty50:
- Top Gainers: Reliance Industries (up over 3%), ONGC, Dr. Reddy’s, Tata Motors, HeroMotoCorp.
- Top Losers: ICICI Bank, Bharti Airtel, Axis Bank, IndusInd Bank, Kotak Bank.
Market Sentiment
The market sentiment remains positive with expectations of significant foreign inflows following JPMorgan’s inclusion of India’s sovereign debt in its emerging markets index.
Record Highs and Closing
Record Highs: Earlier in the day, the Sensex climbed 0.54% or 428 points to hit a fresh record high of 79,671.58, while the Nifty50 rallied 0.53% or 130 points to a new high of 24,174.
Closing: However, by the end of the session, the Sensex settled 0.27% or 210.45 points lower at 79,032.73, and the Nifty50 slipped 0.14% or 33.90 points to 24,010.60.
Broader Indices: Broader indices outperformed the benchmark indices as the Nifty Midcap closed 0.56% higher and the SmallCap index settled 0.84% higher.
Sectoral Performance:
- Top Loser: Nifty Private Banks, down 1.24%, followed by the Bank index, down 0.89%.
- Top Gainer: Pharma, up 1.11%.
The stock market showed mixed performance with gains in metal and pharma sectors offset by losses in banking stocks, reflecting a day of cautious optimism and sectoral rotations.
Disclaimer:
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