Long term return stock market Indian Stock Market Nifty 50

Stock Market Recap: Mixed Sector Performances and Notable News Highlights on a Subdued Trading Day”

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Stock Market Summary for Yesterday

Market Opening and Closing

Yesterday, the stock market opened at a lower point compared to Friday’s closing. Throughout most of the trading day, the market remained subdued. The Nifty 50 index, which tracks the performance of 50 significant stocks listed on the National Stock Exchange of India, saw a slight uptick at around 3:22 PM. Despite this brief surge, the market sentiment remained largely negative for the day.

Sector Performance

Different sectors showed varied performances:

  • FMCG (Fast-Moving Consumer Goods) stocks performed the best, showing notable gains.
  • PSU (Public Sector Undertaking) Banks experienced the most significant decline among the sectors.

The global market trends were mixed:

  • US and European markets closed on a positive note, showing upward movement.
  • Asian markets mostly ended in the red, indicating a decline.

Top Gainers on Nifty 50

Several stocks outperformed the market, showing significant gains:

  1. ONGC: Rs 299.15, up by 3.80%
  2. ITC: Rs 443.60, up by 2.29%
  3. HDFC Life: Rs 620.90, up by 2.23%
  4. HUL (Hindustan Unilever Limited): Rs 2,587.15, up by 1.58%
  5. Tata Consumer: Rs 1,150.80, up by 1.18%

Top Losers on Nifty 50

Several stocks underperformed, leading to notable losses:

  1. Divi’s Labs: Rs 4,464.20, down by 3.57%
  2. Titan: Rs 3,156.20, down by 3.46%
  3. BPCL (Bharat Petroleum Corporation Limited): Rs 299.50, down by 2.33%
  4. Shriram Finance: Rs 2,808.10, down by 2.02%
  5. Adani Ports: Rs 1,475.30, down by 1.68%

News Highlights

Employment Growth: According to provisional data from the Reserve Bank of India (RBI), India’s employment growth rate stood at 6% for the financial year 2023-24, compared to 3.2% in the previous year.

Amul’s New Venture: Amul has launched its first exclusive organic product store in Delhi, offering products such as atta (flour) and dal (lentils).

Fuel Consumption: India’s fuel consumption increased by 2.6% year-on-year in June 2024, as reported by the Oil Ministry.

Mercedes-Benz India Sales: Mercedes-Benz India achieved its highest-ever half-yearly sales, with a 9% year-on-year growth, totaling 9,262 units sold by June 2024.

PLI Scheme for White Goods: The Indian government announced the reopening of the application window for the Production Linked Incentive (PLI) scheme for white goods, such as ACs and LED lights, for 90 days starting from 15 July.

EXIM Bank Agreement: The Export-Import Bank of India (EXIM Bank) signed an agreement with Guyana to provide a $2.5 million line of credit for the installation of a solar photovoltaic power plant.

Boeing Legal Settlement: Boeing has agreed to plead guilty to resolve a U.S. Justice Department investigation related to two 737 MAX crashes.

BlackBuck IPO Filing: Logistics startup BlackBuck has filed draft papers with SEBI for an IPO worth Rs 550 crore.

Stock Updates

  • Nestle: Announced an interim dividend of Rs 2.75 per share for 2024-25, with a record date of 16 July.
  • Titan: Reported a 9% year-on-year business growth in the April-June quarter.
  • Bank of India: Showed a 17.25% year-on-year rise in loans given and a 9.91% rise in total deposits for the April-June quarter.
  • Container Corporation: Reported a 6% year-on-year increase in total volume handled in the April-June quarter.
  • L&T: Secured a significant order worth Rs 10,000 to Rs 15,000 crore to build two solar photovoltaic plants from a Middle East developer.
  • Adani Wilmar: Reported a 13% year-on-year rise in total sales volume and an 11% rise in total sales value for the April-June quarter.
  • Torrent Power: Its subsidiary received an order from ARS Steels & Alloy International to build 50 MW solar projects in Tamil Nadu.
  • AU Small Finance: Reported a 0.4% quarterly decline in total deposits and a 4.9% quarterly rise in total loans given for the April-June quarter.
  • Apollo Hospitals: Will acquire an additional stake worth Rs 103.20 crore in its subsidiary company Apollo Health and Lifestyle through a rights issue.

Commodity and Currency Update

  • Gold: Rs 72,830, up by 0.34%
  • Silver: Rs 93,230, up by 0.99%
  • USD-INR: Rs 83.47/USD, remained stable

Long-Term Returns

For the past 20 years, the long-term returns have been as follows:

  • Sensex: Up by 15.05% per annum
  • Nifty: Up by 14.88% per annum
  • Dow Jones: Up by 6.94% per annum
  • Nasdaq: Up by 11.70% per annum

The stock market experienced a mixed day with some sectors performing well while others lagged. Global markets showed mixed trends with positive movements in the US and Europe, but declines in Asia. The financial updates and stock performances indicate varied market sentiments, with notable growth in employment, fuel consumption, and significant orders for companies like L&T and Torrent Power. The long-term returns remain positive, reflecting a healthy growth trajectory over the past two decades.

Read More Stock Market Daily News & Updates

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