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Stock Market Summary: A Detailed Overview

Market Highlights

Yesterday, The stock market witnessed notable fluctuations with the highest point reached around 11:09 AM. Realty and media stocks experienced significant gains, while some FMCG stocks saw a decline.

Sector Performance

• Gainers: Realty and media sectors led the market rally.
• Losers: Several FMCG stocks recorded losses.

Global Impact

In a significant move, the European Central Bank reduced interest rates for the first time in five years, lowering the deposit rate by 0.25% to 3.75%. This decision likely contributed to the positive performance of global markets, including those in Europe, the US, and Asia.

Top Gainers (NIFTY 50)

1. HCL Tech: ₹1,397.50 ▲ 4.00%
2. Tech Mahindra: ₹1,317.45 ▲ 3.99%
3. SBI Life: ₹1,442.85 ▲ 3.79%
4. Shriram Finance: ₹2,474.80 ▲ 3.66%
5. SBI: ₹816.95 ▲ 3.44%

Top Losers (NIFTY 50)

1. Hindalco: ₹677.50 ▼ 2.55%
2. Hero Moto: ₹5,534.25 ▼ 2.20%
3. HUL: ₹2,549.60 ▼ 2.04%
4. Asian Paints: ₹2,904.80 ▼ 1.92%
5. Nestle: ₹2,471.40 ▼ 1.53%

News Highlights

• Bajaj Housing Finance: Plans for an IPO with a fresh issue up to ₹4,000 crore and an offer for sale.
• Domestic Air Passenger Traffic: Increased by 5.1% year-on-year to 13.89 crore in May, according to ICRA.
• Indian Energy Exchange (IEX): Trade volume rose by almost 29% year-on-year to 10,633 million units in May.
• High Net Worth Individuals (HNIs) in India: Increased by 12.2% year-on-year in 2023 to 35.89 lakh, with their wealth rising 12.4% to $1,445.7 billion.

Stocks Updates

• ITC: Shareholders approved the demerger of ITC’s hotel business.
• VIP Industries: Nisaba Godrej resigned as an independent director.
• Uno Minda: Signed an agreement with China-based Suzhou to manufacture high-voltage EV products.
• Wipro: Secured a $500 million deal from a US communication service provider.
• ZEE: Board approved raising ₹2,000 crore through share issues.
• Maruti Suzuki: Launched limited edition cars for smaller hatchback models available only in June 2024.
• NBCC: Received 13 different orders worth ₹491 crore from various government bodies.
• BHEL: Secured over ₹3,500 crore order from Adani Power for two thermal power plants in Chhattisgarh and another order from Mirzapur Thermal Energy (UP) worth over ₹3,500 crore.
• RVNL: Received a ₹390 crore order from Eastern Railways to construct a bypass line.

Commodity Prices

• Gold: ₹72,610 ▲ 1.01%
• Silver: ₹91,390 ▲ 2.10%
• USD-INR: ₹83.37/USD ▲ 0.14%

Global Market Indices

• Dow Jones: 38,807.33 ▲ 0.25%
• Nasdaq: 17,187.90 ▲ 1.96%

Long-Term Returns (Past 20 years)

• Sensex: ▲ 14.80% p.a.
• Nifty: ▲ 14.42% p.a.
• Dow Jones: ▲ 6.89% p.a.
• Nasdaq: ▲ 11.41% p.a.

This comprehensive analysis provides insights into the market’s performance, highlighting key sector movements, significant stock gains and losses, and noteworthy updates affecting the financial landscape.

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