Indian Stock Market Update: A Detailed Overview
Table of Contents
Market Opening and Performance
The Indian stock markets opened on a positive note compared to Friday’s closing. The early hours saw a brief dip around 9:28 AM, marking the day’s lowest point. However, the markets soon rebounded, reaching their peak at 10:05 AM.
Sector Performance
Top Gainers Top Losers
The realty sector emerged as the strongest performer, while mid and small-cap healthcare stocks faced the most significant declines.
Top Gainers in NIFTY 50
- Shriram Finance: Rs 2,829.75 ▲ 3.57%
- Power Grid Corporation: Rs 331.80 ▲ 3.20%
- Wipro: Rs 491.85 ▲ 3.01%
- Titan: Rs 3,589.00 ▲ 1.67%
- ICICI Bank: Rs 1,122.85 ▲ 1.56%
Top Losers in NIFTY 50
- Maruti Suzuki: Rs 12,560.95 ▼ 2.21%
- Dr. Reddy’s: Rs 5,991.25 ▼ 1.54%
- Tata Steel: Rs 181.12 ▼ 1.11%
- UltraTech: Rs 11,119.05 ▼ 1.10%
- Hero MotoCorp: Rs 5,754.85 ▼ 0.85%
Global Market Trends
Most global stock markets, including those in Europe, the US, and Asia, were on an upward trajectory.
News Highlights
- NSE Launches New Index: The NSE has introduced the Nifty India Tourism Index to track the tourism sector, initially including 17 stocks.
- ixigo IPO: ixigo’s IPO debuted with a 48.5% premium on the NSE.
- Amazon Fresh: Amazon India launched its grocery service ‘Amazon Fresh’ in over 130 Indian cities.
Key Stock Updates
- Lupin: Abdelaziz Toumi has been appointed as the CEO of Lupin Manufacturing Solutions.
- HUDCO: Raised $200 million from overseas lenders to improve urban infrastructure.
- RVNL: Secured a Rs 160 crore order from East Coast Railways for developing automatic block signalling systems.
- Wipro: Partnered with US clothing brand Hanesbrands and financial services company GBST to enhance their digital infrastructure.
- REC: Set June 28 as the record date for its final dividend for the Jan-March quarter (Rs 5 per share).
- NBCC: Received a Rs 70 crore order from the Grid Controller of India for interior work in its new corporate office in New Delhi.
- Infosys: Launched AI-powered marketing software Aster to boost marketing and sales operations.
- Reliance: Swiggy partnered with toy brand Hamleys (owned by Reliance Retail) to deliver toys through Swiggy Instamart.
Commodity and Currency Update
1 Day Change
- Gold: Rs 71,210 ▼ 0.74%
- Silver: Rs 88,440 ▼ 0.34%
- USD-INR: Rs 83.38/USD ▼ 0.14%
Global Indices
- Dow Jones: 38,778.10 ▲ 0.49%
- Nasdaq: 17,857.02 ▲ 0.95%
Long-Term Market Performance
Past 20 Years Annualized Returns
- Sensex: ▲ 14.94% p.a.
- Nifty: ▲ 14.80% p.a.
- Dow Jones: ▲ 6.81% p.a.
- Nasdaq: ▲ 11.61% p.a.
The market’s performance reflects robust economic activities, with specific sectors showing resilience and growth potential. Keeping an eye on these trends can help investors make informed decisions.