Long term return stock market Indian Stock Market Nifty 50

Nifty 50 Ends in Green Amid Mixed Market Trends and IT Sector Surge

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Stock Market Overview Nifty 50 Sees Mixed Movement and a Green Close

The Nifty 50 experienced fluctuating trends yesterday, with no clear direction throughout the day. Initially, the index was mostly down until around 12:15 PM, showing some intermittent rises. However, after 1 PM, the Nifty 50 started to gain momentum and closed in the green by the end of the trading session.

Sector Performance

IT Stocks Lead the Rise

IT stocks were the standout performers, showing significant gains. The rise in IT stocks can be attributed to positive quarterly results reported by these companies.

Media Stocks Decline

In contrast, media stocks were the worst performers of the day, experiencing the most significant declines.

Global markets presented a mixed picture. While the US and Asian markets showed varied trends, most European markets ended the day on a positive note.

Top Gainers on Nifty 50

Among the top gainers on the Nifty 50 were:

  • LTIMindtree: Closed at Rs 5,756.90, up by 3.50%
  • TCS: Closed at Rs 4,315.55, up by 3.28%
  • ONGC: Closed at Rs 331.70, up by 2.80%
  • Bajaj Finserv: Closed at Rs 1,651.25, up by 2.59%
  • Wipro: Closed at Rs 573.20, up by 2.41%

Top Losers on Nifty 50

The top losers on the Nifty 50 included:

  • Asian Paints: Closed at Rs 2,931.55, down by 1.44%
  • Coal India: Closed at Rs 505.25, down by 1.41%
  • Hero MotoCorp: Closed at Rs 5,502.20, down by 1.36%
  • Grasim Industries: Closed at Rs 2,791.80, down by 1.26%
  • Bajaj Auto: Closed at Rs 9,626.20, down by 0.95%

Noteworthy News

Inauguration of Jan Aushadi Kendra in Mauritius

India has inaugurated its first overseas ‘Jan Aushadi Kendra’ in Mauritius. This initiative aims to sell affordable generic medicines, enhancing healthcare accessibility.

Toshiba’s Investment in India

Toshiba has announced an investment of over Rs 500 crore to boost the production capacity of power transmission and distribution equipment in India.

Corporate Updates

Infosys

Infosys reported a net profit increase of 7.12% year-on-year, reaching Rs 6,368 crore for the April-June quarter.

JSW Infrastructure

JSW Infrastructure’s net profit rose by 10.32% year-on-year, amounting to Rs 297.94 crore for the April-June quarter.

Aurobindo Pharma

The board of Aurobindo Pharma has approved a share buyback of up to Rs 750 crore. The record date for this buyback is set for July 30.

Havells

Havells posted a significant net profit increase of 42.41% year-on-year, reaching Rs 406.48 crore for the April-June quarter.

Polycab

Polycab’s net profit remained relatively flat at Rs 386.77 crore for the April-June quarter.

IDBI Bank

The Reserve Bank of India (RBI) has given its ‘fit and proper’ approval for bidders involved in the privatisation process of IDBI Bank.

LTIMindtree

LTIMindtree secured a multi-million dollar contract extension with Absa Bank, a prominent African financial services company, continuing as its technology partner.

Commodity and Currency Updates

Gold and Silver

  • 10g Gold: Priced at Rs 74,370, down by 0.34%
  • 1kg Silver: Priced at Rs 92,280, down by 1.11%

USD-INR

  • USD-INR Exchange Rate: Rs 83.64/USD, up by 0.07%

US Market Indices

  • Dow Jones: Closed at 41,198.08, up by 0.59%
  • Nasdaq: Closed at 17,996.92, down by 2.77%

Long Term Returns

Indian Markets

  • Sensex: Averaged an annual return of 15.02% over the past 20 years.
  • Nifty: Averaged an annual return of 14.84% over the past 20 years.

US Markets

  • Dow Jones: Averaged an annual return of 7.26% over the past 20 years.
  • Nasdaq: Averaged an annual return of 11.95% over the past 20 years.

In summary, the Nifty 50 displayed a mixed performance but managed to close in positive territory, driven largely by gains in the IT sector. Meanwhile, media stocks faced significant declines. The global markets showed varied trends, and there were notable corporate updates and news from major companies contributing to the day’s market dynamics.

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