Stock Market Performance on the Previous Day
Market Opening and Early Trends
The stock markets began the day on a positive note, opening higher than Friday’s closing point. However, volatility marked the early trading hours as the markets fell below the opening point twice before stabilizing.
Table of Contents
Afternoon Trends and Sector Performance
A significant decline was observed in the Nifty 50 stocks after 3:04 PM, leading to a mixed close. Among various sectors, media stocks experienced the highest gains, while IT stocks suffered the most substantial losses.
Global Market Influence
The global market trends also played a role in the domestic market’s performance. US and European markets closed lower, while Asian markets showed a mixed trend, impacting investor sentiment locally.
Top Gainers and Losers on Nifty 50
Top Gainers
- UltraTech Cement: ₹10,826.25 ▲ 3.47%
- Grasim Industries: ₹2,446.80 ▲ 2.81%
- Hero MotoCorp: ₹5,722.20 ▲ 2.51%
- Cipla: ₹1,534.25 ▲ 2.47%
- Power Grid Corporation: ₹315.80 ▲ 2.09%
Top Losers
- Tech Mahindra: ₹1,340.35 ▼ 2.70%
- Infosys: ₹1,499.75 ▼ 2.21%
- Wipro: ₹475.25 ▼ 1.92%
- Mahindra & Mahindra (M&M): ₹2,807.55 ▼ 1.75%
- LTIMindtree: ₹4,903.45 ▼ 1.48%
Key News and Updates
Auto Sales: Auto retail sales in May decreased by 5.28% compared to April, but there was a 2.6% increase compared to May 2023.
IPO Activity:
- Kronox Lab Sciences: The IPO listed at a premium of 21.29%.
- ixigo: The IPO has been subscribed 1.95 times overall, with retail subscription at 6.21 times. It remains open until June 12.
Corporate Developments:
- Paytm: Denied being in talks with the Adani Group regarding a stake sale.
- GAIL: Announced an ethane cracker project in Madhya Pradesh worth ₹60,000 crore.
- IDBI Bank: Set to receive an income tax refund of ₹2,701.6 crore.
- RVNL: Secured two contracts valued at approximately ₹651 crore.
- Punjab National Bank (PNB): Plans to open a representative office in Dubai.
- JSW Energy: Commenced the construction of a 1 GWh battery energy storage system in Fatehgarh, Rajasthan.
Commodity and Currency Updates
Precious Metals:
- Gold: ₹70,700 ▼ 1.56%
- Silver: ₹90,070 ▼ 1.50%
Currency:
- USD-INR: ₹83.49/USD ▲ 0.02%
International Market Indices
- Dow Jones: 38,798.99 ▼ 0.22%
- Nasdaq: 17,133.12 ▼ 0.23%
Long Term Returns
Over the past 20 years, the Indian indices have shown robust annual growth rates:
- Sensex: ▲ 15.19% p.a.
- Nifty: ▲ 14.52% p.a.
In comparison, the US indices have also performed well, though at a slightly lower rate:
- Dow Jones: ▲ 7.07% p.a.
- Nasdaq: ▲ 12.27% p.a.
This performance overview provides a snapshot of the dynamic movements in the stock markets and highlights the significant activities influencing market trends and investor decisions.