June 11, 2024
New Delhi, India
Market Overview
Indian benchmark indices ended flat on June 11, experiencing significant volatility throughout the trading session. The Sensex closed 33.49 points lower, a decline of 0.04%, settling at 76,456.59. Meanwhile, the Nifty edged up slightly by 5.60 points, or 0.02%, finishing at 23,264.80.
Performance of Mid and Small Cap Stocks
Despite the overall flat performance of the major indices, the BSE midcap index rose by 0.7%, and the smallcap index saw a nearly 1% increase. These segments outperformed the larger market, demonstrating robust investor interest in mid and small cap stocks.
Sector-Specific Movements
The trading session saw varied performances across different sectors. Financial stocks showed weakness, contributing to the marginal decline in the Sensex. On the other hand, specific stocks such as ONGC surged by 6%, while Paytm experienced a 2% drop.
Global Influences and Investor Sentiment
The Indian stock market was influenced by weak global cues, with major European markets like the UK’s FTSE, France’s CAC 40, and Germany’s DAX declining due to political uncertainties, including the snap election announcement in France. Additionally, investors exercised caution ahead of the US consumer price inflation data and the Federal Reserve’s policy decision scheduled for Wednesday.
Market Trends and Profit Booking
Despite opening higher and maintaining positive territory for a significant part of the session, the equity benchmarks ended flat due to profit booking in the absence of fresh market triggers. Investors are currently focused on the new government’s policy decisions, the upcoming Union Budget, and the global economic outlook.
Also Read: Nirmala Sitharaman to Continue as India’s Finance Minister in Modi’s Third Term
Conclusion
The Indian stock market experienced a volatile session on June 11, with the Sensex and Nifty ending flat. However, mid and small cap stocks showed strong performance. Investors remain cautious as they await key economic data and policy decisions from the US, which will likely influence future market trends.
Disclaimer:
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