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.
Table of Contents
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)
- HCL Tech: ₹1,397.50 ▲ 4.00%
- Tech Mahindra: ₹1,317.45 ▲ 3.99%
- SBI Life: ₹1,442.85 ▲ 3.79%
- Shriram Finance: ₹2,474.80 ▲ 3.66%
- SBI: ₹816.95 ▲ 3.44%
Top Losers (NIFTY 50)
- Hindalco: ₹677.50 ▼ 2.55%
- Hero Moto: ₹5,534.25 ▼ 2.20%
- HUL: ₹2,549.60 ▼ 2.04%
- Asian Paints: ₹2,904.80 ▼ 1.92%
- 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.