Long term return stock market Indian Stock Market Nifty 50

Stock Market Daily Updates

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Asian markets exhibited a mixed bag of trends yesterday, while most European and US markets ended the day on a positive note, reflecting a diverse global economic landscape.

Top Gainers in Indian Markets

In the Indian stock market, several companies witnessed notable gains:

  • Adani Enterprises surged by 2.06% to reach Rs 3,285.40.
  • Tata Consumer saw a rise of 1.89%, reaching Rs 1,190.05.
  • IndusInd Bank climbed by 1.77% to Rs 1,474.90.
  • M&M recorded a gain of 1.62% at Rs 1,932.40.
  • Adani Ports also rose by 1.62%, reaching Rs 1,320.50.

Top Losers in Indian Markets

However, some companies faced declines:

  • Apollo Hospitals experienced a significant decline of 4.10%, settling at Rs 6,101.60.
  • Bajaj Auto saw a decrease of 3.41% to Rs 7,909.35.
  • LTIMindtree observed a decline of 2.02%, reaching Rs 5,300.85.
  • Eicher Motors experienced a dip of 1.85% at Rs 3,792.40.
  • UPL witnessed a slight decline of 1.30%, settling at Rs 469.70.

Key Developments in the Indian Economy

Several significant developments unfolded in the Indian economy:

  • Reliance and Disney Joint Venture: Reliance and Disney announced a joint venture worth $8.5 billion for their India-based media businesses.
  • GDP Growth: India’s GDP growth soared to 8.4% in the October-December 2023 quarter, marking the fastest growth in six quarters, surpassing forecasts of around 6.6%.
  • Infrastructure Sector Growth: However, the growth of eight key infrastructure sectors in India slowed to a 15-month low of 3.6% in January.
  • NHAI Initiative: The National Highways Authority of India extended the deadline for compliance with the ‘One Vehicle, One FASTag’ initiative to March-end.
  • PM KISAN Scheme: The Ministry of Agriculture and Farmer’s Welfare reported the transfer of Rs 3 lakh crore to farmers under India’s PM KISAN scheme.
  • Mineral Blocks Auction: The Union Mines Ministry initiated an auction for 18 critical and strategic mineral blocks valued at around Rs 30 lakh crore.
  • Airport Staff Testing: Starting June 1, 2024, 25% of certain airport staff will undergo a daily breath analyzer test, as mandated by the Directorate General of Civil Aviation (DGCA).
  • Electric Vehicles Segment: Skoda Auto announced plans to venture into India’s electric vehicles segment.

Stocks Making Headlines

Several stocks garnered attention due to various reasons:

  • Aurobindo Pharma: The USFDA issued seven observations to Aurobindo Pharma’s injectable facility in Telangana.
  • Biocon Biologics: The USFDA issued four observations for Biocon Campus (Site 1) facility.
  • ZEE: Sony Pictures withdrew its merger proposal with ZEE, which was previously submitted to the NCLT.
  • Jio Financial Services: Jio Financial Services is set to join the Nifty Next 50 index on March 28.
  • One 97 (Paytm): SoftBank Group sold a 2% share of its stake in Paytm’s parent company, reducing its ownership to 2.83%.

IPO Corner

In the IPO market:

  • Mukka Protein: Subscribed 2.47 times with retail subscription at 3.70 times. Open until March 4.
  • Exicom Tele-Systems: Subscribed 129.54 times with retail subscription at 119.59 times. Closed for subscription.
  • Platinum Industries: Subscribed 99.03 times with retail subscription at 50.99 times. Closed for subscription.

Market Indices and Long-Term Returns

  • Gold saw a minimal decline of 0.01%, settling at Rs 62,136.
  • Silver experienced a slight increase of 0.19%, reaching Rs 69,009.
  • The USD-INR exchange rate rose by 0.01%, reaching Rs 82.92/USD.
  • The Dow Jones index in the US saw a marginal decline of 0.06%, closing at 38,949.02.
  • The Nasdaq index also dipped by 0.55%, ending the day at 15,947.74.

Long term, over the past 20 years:

  • The Sensex in India exhibited an annualized growth of 13.44%.
  • The Nifty also showed robust growth, with an annualized increase of 13.17%.
  • In comparison, the Dow Jones in the US grew at an annualized rate of 6.68%.
  • The Nasdaq outperformed with an annualized growth rate of 10.78%.

The market continues to exhibit dynamic movements influenced by both domestic and international factors, presenting opportunities and challenges for investors.

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