Long term return stock market Indian Stock Market Nifty 50

Stock Market Daily Updates: Resilient Recovery: Nifty 50 Stabilizes Amid Global Market Declines and Sectoral Swings

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Stock Market Report: An Overview of Yesterday’s Market Activity

Nifty 50 Opening and Performance

The Nifty 50 index had a challenging start yesterday, opening significantly lower than the previous day’s closing point. At 9:15 AM, the market witnessed a drop, setting a somber tone for traders. However, as the day progressed, the Nifty 50 showed resilience and began to recover steadily. By the end of the trading session, the index had almost leveled out, ending the day nearly flat. This recovery indicated a strong intraday performance, despite the initial dip.

Sector Performance

Oil & Gas Stocks Surge

Among the various sectors, oil and gas stocks experienced the most significant rise. The positive movement in this sector provided a cushion for the overall market, contributing to the stabilization of the Nifty 50.

Metal Stocks Decline

Conversely, metal stocks faced a decline, making them the worst performers of the day. This dip in metal stocks partially offset the gains made by the oil and gas sector, impacting the overall market balance.

US Market Decline

The US markets had a notable downturn, which influenced global sentiment. Major indices like the Dow Jones and Nasdaq experienced significant losses. The Dow Jones fell by 1.25%, while the Nasdaq saw a steeper decline of 3.64%.

European and Asian Markets Follow Suit

European and Asian markets also mirrored the US trend, closing lower. This widespread downturn in international markets added to the cautious approach seen in the Indian stock market.

Top Gainers in Nifty 50

Several stocks in the Nifty 50 outperformed, showing impressive gains despite the broader market volatility:

  1. Tata Motors: Closed at Rs 1,090.95, up by 6.15%.
  2. ONGC: Ended the day at Rs 335.80, rising by 5.09%.
  3. SBI Life: Reached Rs 1,695.40, increasing by 3.82%.
  4. BPCL: Closed at Rs 326.15, up by 3.56%.
  5. Sun Pharma: Ended at Rs 1,665.80, rising by 2.86%.

Key News Highlights

US GDP Growth

The US GDP growth for the April-June quarter was reported at 2.8%, a significant improvement from the previous quarter’s 1.4%. This positive economic data had mixed reactions in the market, given the broader global economic concerns.

Jio Things Partnership

Jio Things, a subsidiary of Jio Platforms, announced a partnership with MediaTek, a global chip manufacturer. This collaboration aims to introduce new technologies for 2 and 3-wheelers in India, marking a significant step in the country’s technological advancements in the automotive sector.

Company-Specific Updates

Airtel Africa

Airtel Africa reported a net profit of $31 million for the April-June quarter, a remarkable turnaround from a loss of $151 million in the same period last year. The Average Revenue Per User (ARPU) also saw a 9.3% increase, indicating improved performance.

Adani Green

Adani Green posted a substantial year-on-year net profit increase of 94.74%, reaching Rs 629 crore for the April-June quarter. This growth reflects the company’s strong performance in the renewable energy sector.

Nestle India

Nestle India’s quarterly net profit rose by 6.62% year-on-year, amounting to Rs 744.6 crore. The company continues to show steady growth in the fast-moving consumer goods (FMCG) sector.

Tech Mahindra

Tech Mahindra reported a 22.96% rise in quarterly net profit, totaling Rs 851.5 crore. This increase highlights the company’s robust performance in the IT services sector.

SAIL

The board of Steel Authority of India Limited (SAIL) approved raising Rs 2,500 crore through a debt instrument by private placement. This move is aimed at financing the company’s expansion and operational activities.

Adani Energy

Adani Energy reported a quarterly net loss of Rs 823.92 crore, contrasting sharply with a profit of Rs 175.06 crore in the same period last year. The loss underscores challenges faced by the company in the energy sector.

Canara Bank

Canara Bank’s quarterly net profit rose by 11.30%, reaching Rs 3,977.22 crore. This increase reflects the bank’s improved performance in the financial sector.

Ashok Leyland

Ashok Leyland reported a decline in quarterly net profit by 8.82%, totaling Rs 525.58 crore. This drop indicates challenges in the commercial vehicle manufacturing sector.

Commodity and Currency Update

Gold and Silver

Gold prices fell by 1.61%, closing at Rs 67,860 for 10 grams. Silver also saw a significant drop of 5.28%, ending at Rs 80,680 per kilogram.

USD-INR Exchange Rate

The USD-INR exchange rate slightly increased by 0.01%, closing at Rs 83.71/USD, reflecting minor fluctuations in the currency market.

Long-Term Market Returns

Over the past 20 years, the Indian stock market has shown impressive returns:

  • Sensex: Annual growth of 14.79%.
  • Nifty: Annual growth of 14.59%.

In comparison, the US markets have had the following annual returns:

  • Dow Jones: 7.18%.
  • Nasdaq: 11.84%.

Despite a rocky start, the Nifty 50 managed to recover and end the day almost flat. The rise in oil and gas stocks was a significant positive factor, while the decline in metal stocks posed challenges. Global market trends, especially the downturn in US markets, influenced the overall sentiment. Key corporate updates and economic news played crucial roles in shaping market movements. As the market navigates through these fluctuations, long-term investors continue to benefit from substantial returns in both Indian and US markets.

Read More Stock Market Daily Updates

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