Long term return stock market Indian Stock Market Nifty 50

Stock Market Update: Nifty 50 Surges with Media and PSU Bank Gains Amid Global Mixed Trends”

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Stock Market Highlights: June 12, 2024

Market Opening and Performance

The stock markets opened higher compared to the previous day’s closing. The Nifty 50 index maintained its positive trajectory throughout the day, reaching its peak at 10:56 AM.

Sector Performance

Media and Public Sector Undertaking (PSU) Bank stocks led the gains, while Fast-Moving Consumer Goods (FMCG) stocks experienced the most significant decline.

US and European markets saw an upward trend, whereas Asian markets displayed mixed results.

Nifty 50: Top Gainers

  • Coal India: Rs 488.70 ▲ 2.59%
  • Power Grid Corp: Rs 324.65 ▲ 2.56%
  • Eicher Motors: Rs 4,850.65 ▲ 1.93%
  • SBI Life: Rs 1,452.70 ▲ 1.73%
  • Tech Mahindra: Rs 1,370.60 ▲ 1.57%

Nifty 50: Top Losers

  • M&M: Rs 2,787.55 ▼ 1.69%
  • Britannia: Rs 5,439.30 ▼ 1.42%
  • HUL: Rs 2,528.70 ▼ 1.08%
  • Tata Consumer: Rs 1,124.65 ▼ 0.96%
  • Titan: Rs 3,382.30 ▼ 0.83%

Key News Updates

  • The first session of the newly elected 18th Lok Sabha is set to begin on June 24.
  • Retail inflation in India dropped to a 12-month low of 4.75% in May, compared to 4.83% in April. Food inflation also decreased to 8.62% from 8.75% in April.
  • India’s Index of Industrial Production (IIP) saw a year-on-year increase of 5% in April, with notable growth in the mining and power sectors.
  • Ixigo’s IPO was highly successful, being subscribed 98.10 times, with retail subscription at 53.95 times, now closed for subscription.

Stock Updates

  • Brigade Enterprises: Plans to invest over Rs 8,000 crore in Chennai to develop residential, retail, and office spaces by 2030.
  • NBCC: Secured a Rs 100 crore order from Oil India for a project in Guwahati, Assam.
  • Glenmark Pharma: Received US FDA approval to market its heartburn treatment drug.
  • Go Digit Insurance: Reported a net profit increase of 106.34% year-on-year to Rs 52.66 crore in the Jan-March quarter.
  • IHCL: The luxury hotel brand ‘Taj’ was awarded the World’s Strongest Hotel Brand in the ‘Hotel 50 2024’ report by Brand Finance.

Commodity and Currency Changes

  • Gold: Rs 71,370 ▼ 0.04%
  • Silver: Rs 89,170 ▼ 0.23%
  • USD-INR: Rs 83.55/USD ▼ 0.05%

US Market Performance

  • Dow Jones: 38,747.42 ▼ 0.31%
  • Nasdaq: 17,343.55 ▲ 0.88%

Long-Term Returns (Past 20 Years)

  • Sensex: ▲ 14.82% p.a.
  • Nifty: ▲ 14.67% p.a.
  • Dow Jones: ▲ 6.79% p.a.
  • Nasdaq: ▲ 11.41% p.a.

In summary, the Indian stock market saw a positive trend led by Media and PSU Bank stocks, while FMCG stocks underperformed. Global markets showed mixed results, and significant updates in various sectors indicate a dynamic economic environment.

Read More Stock Market Daily Updates & News

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