Stock Market Today: Sensex, Nifty End Flat Amid Volatility, Banks Shine

Indian Stock Market

June 19, 2024

New Delhi, India

Stock Market Highlights

Indian benchmark indices ended on a flat note in a volatile session on June 19. The Sensex closed up 36.45 points or 0.05% at 77,337.59, while the Nifty dipped 41.90 points or 0.18% to 23,516.00. The market saw mixed activity with about 1,430 shares advancing, 1,969 shares declining, and 62 shares remaining unchanged.

Top Gainers and Losers

Top Nifty Gainers:

  • HDFC Bank
  • Axis Bank
  • ICICI Bank
  • IndusInd Bank
  • Kotak Mahindra Bank

Top Nifty Losers:

  • Titan Company
  • Maruti Suzuki
  • Larsen & Toubro (L&T)
  • Hindalco
  • Bharti Airtel

Sector Performance

  • Banks: Up 2%
  • IT: Up 0.4%
  • Other Sectors: Ended in the red, including Auto, Capital Goods, Metal, Oil & Gas, Power, and Realty, which were down 1-3%.

Market Highlights

  • The Sensex and Nifty hit fresh record highs for the fourth consecutive session on Wednesday.
  • Gains were driven primarily by banking and IT stocks, following soft U.S. retail sales data that bolstered expectations of the Federal Reserve cutting interest rates in September.
  • SBI: Approved raising up to ₹20,000 crore in FY25 via bonds.
  • Bharti Airtel: Acquired an additional 1% stake in Indus Towers.
  • Vodafone Idea: Likely to sell a 19% stake in Indus Towers.

Detailed Indices Performance

  • Sensex: Up 36.45 points or 0.05%, closing at 77,337.59.
  • Nifty: Down 41.90 points or 0.18%, closing at 23,516.
  • Bank Nifty: Up 957.15 points or 1.90%, closing at 51,398.05.

The broader indices ended in negative territory, with small-cap and mid-cap stocks leading the decline. While Banking and Financial Services stocks outperformed, Realty and Energy stocks saw losses.

The mixed performance of the market indicates cautious investor sentiment amid global and domestic economic cues, with banking stocks providing some optimism against a backdrop of volatility in other sectors.

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