Stock Market Recap: Nifty 50 Records Modest Gain Amidst Mixed Global Trends
The stock markets experienced a relatively flat day, with the Nifty 50 showing a late surge and recording a 0.34% gain. The media sector emerged as the top gainer, while the FMCG sector faced a 0.40% decline. Most other Asian and American markets closed in the red, indicating a mixed global trend
Table of Contents
Market Movers:
NIFTY 50 Top Gainers:
- Cipla: Rs 1,329.20, ▲ 3.09%
- Adani Enterprises: Rs 3,098.20, ▲ 2.77%
- Reliance: Rs 2,650.10, ▲ 2.70%
- HCL Tech: Rs 1,492.10, ▲ 2.17%
- Adani Ports: Rs 1,214.35, ▲ 1.44%
NIFTY 50 Top Losers:
- ONGC: Rs 212.10, ▼ 2.10%
- Divi’s Labs: Rs 3,902.65, ▼ 2.06%
- NTPC: Rs 313.35, ▼ 2.00%
- BPCL: Rs 451.25, ▼ 1.89%
- Power Grid: Rs 239.15, ▼ 1.30%
Global Insights:
While Nifty 50 managed to secure gains, other Asian and American markets closed in negative territory. This indicates the influence of mixed global cues on the Indian stock market.
Corporate Buzz:
ArcelorMittal’s Ambitious Plan:
ArcelorMittal aims to build the world’s largest steel manufacturing factory in Gujarat by 2029, reflecting a significant investment in India’s industrial landscape.
Global Employment Trends:
The International Labour Organisation estimates a global unemployment rate of 5.2% in 2024, a marginal increase from 5.1% in 2023.
World Bank Projections for Indian Economy:
The World Bank predicts India’s economic growth at 6.4% in FY25 and 6.5% in FY26, maintaining its position as the fastest-growing major economy.
Stocks in Focus:
Adani Group’s Milestone:
The Adani Group proudly unveiled India’s first made-in-India medium-altitude long-endurance drone, showcasing technological advancements.
Reliance Industries’ Market Cap Milestone:
Reliance Group companies collectively achieved a market capitalization exceeding Rs 20 lakh crore during the trading day.
Shyam Metalics’ Fundraising Move:
Shyam Metalics successfully raised Rs 1,385 crore through Qualified Institutional Placement (QIP), enhancing its financial position.
Paytm’s Investment Plan:
Paytm is set to invest Rs 100 crore in Gujarat International Finance Tec-City (GIFT City), contributing to the state’s financial infrastructure.
Tata Power’s Renewable Energy Vision:
Tata Power Renewable Energy eyes investments totaling Rs 70,800 crore for renewable energy projects in Tamil Nadu, fostering sustainable development.
Bharat Forge’s Agreement with Tamil Nadu Government:
Bharat Forge signed a strategic agreement with the Tamil Nadu government, outlining an investment plan of Rs 1,000 crore over the next 5 years.
IPO Corner:
Jyoti CNC’s Strong Subscription Numbers:
Jyoti CNC witnessed robust demand in its IPO, being subscribed 3.92 times, with retail investors showing particular interest at 11.08 times.
Market Indicators:
1 Day Change:
- Gold: ₹62,290, ▲ 0.48%
- Silver: ₹72,160, ▲ 0.15%
- USD-INR: ₹83.05/USD, ▼ 0.12%
- Dow Jones: 37,525.16, ▼ 0.42%
- Nasdaq: 14,857.71, ▲ 0.09%
Long-Term Performance:
Past 20 Years:
- Sensex: ▲ 13.14% p.a.
- Nifty: ▲ 12.79% p.a.
- Dow Jones: ▲ 6.60% p.a.
- Nasdaq: ▲ 10.28% p.a.
The market showcased a day of mixed trends, with certain sectors and stocks standing out amidst the broader economic landscape. Investors remain watchful as global dynamics continue to influence market movements.
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