Stock Market Opening and General Trends
The stock market opened higher than the previous day’s closing point. Despite an initial drop in Nifty 50 stocks within the first 30 minutes of trading, the index managed to rise above the previous day’s close by around 10:00 AM. The peak of the day was recorded at 3:02 PM.
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Market Movement by Region
While most Asian markets showed upward trends, European markets experienced declines throughout the day.
Top Gainers in Nifty 50
- Eicher Motors
- Price: Rs 4,935.10
- Change: ▲ 2.78%
- Price: Rs 2,928.60
- Change: ▲ 2.34%
- Adani Ports
- Price: Rs 1,430.70
- Change: ▲ 1.87%
- Shriram Finance
- Price: Rs 2,732.15
- Change: ▲ 1.78%
- Titan
- Price: Rs 3,530.05
- Change: ▲ 1.67%
Top Losers in Nifty 50
- Tech Mahindra
- Price: Rs 1,371.45
- Change: ▼ 1.26%
- TCS (Tata Consultancy Services)
- Price: Rs 3,832.05
- Change: ▼ 1.19%
- Wipro
- Price: Rs 477.50
- Change: ▼ 1.06%
- HCL Tech
- Price: Rs 1,431.05
- Change: ▼ 0.91%
- SBI (State Bank of India)
- Price: Rs 839.20
- Change: ▼ 0.56%
Noteworthy News and Updates
- India’s Trade Statistics: Exports increased by 9.1% year-on-year to $38.13 billion in May, while imports rose by 7.7% to $61.90 billion. The trade deficit was $23.78 billion.
- Inflation Data: Wholesale price inflation in India was 2.61% in May, up from 1.26% in April.
- Forex Reserves: India’s forex reserves reached an all-time high of $655.8 billion as of June 7, with an increase of $4.3 billion.
Corporate Highlights
- Zydus Lifesciences: Received tentative approval from the US FDA for its high blood pressure tablets.
- SBI: Announced a Rs 830 crore bond issue starting at its London branch on June 20.
- Central Bank of India: Penalized Rs 1.45 crore by RBI for non-compliance issues.
- Adani Enterprises: Chairman Gautam Adani increased his stake in the company by 1.32% between April and June.
- BHEL (Bharat Heavy Electricals Limited): Secured a Rs 7,000 crore order from Adani Group for two power plants in Raipur and Mirzapur.
- Lupin: Announced that the US FDA inspection of its Nagpur facility found zero issues.
- Jindal Stainless: Completed the acquisition of Chromeni Steels for approximately Rs 278 crore.
Commodity and Currency Changes
- Gold: Rs 71,740, ▲ 0.87%
- Silver: Rs 88,740, ▲ 0.31%
- USD-INR: Rs 83.55/USD, ▲ 0.03%
US Market Indices
- Dow Jones: 38,647.10, ▼ 0.17%
- Nasdaq: 17,667.56, ▲ 0.34%
Long Term Returns (Past 20 Years)
- Sensex (India): ▲ 14.95% p.a.
- Nifty (India): ▲ 14.81% p.a.
- Dow Jones (USA): ▲ 6.78% p.a.
- Nasdaq (USA): ▲ 11.51% p.a.
This summary provides an overview of the key movements and trends in the stock market on June 14, 2024, highlighting significant gains and losses, major news updates, and other relevant financial data.