| Index | Price | Change | % Chg |
| Nifty 50 | 24,044.50 | +175.70 | +0.74% |
| Nifty MidCap 50 | 15,641.80 | +46.35 | +0.30% |
| Nifty SmallCap 50 | 8,509.45 | –52.60 | -0.61% |
| Nifty Bank | 52,811.30 | -59.20 | -0.11% |
| Nifty Financial | 23,624.85 | +32.15 | +0.14% |
| BSE SENSEX | 79,243.18 | +568.93 | +0.72% |
At the close, the Nifty 50 was at 24,044.50 up by 0.74%
June 27 witnessed a historic day for the Indian stock markets as both the NSE Nifty 50 and BSE Sensex achieved unprecedented highs. The Nifty 50 surged by 0.74%, crossing the significant 24,000 mark to settle at 24,044.50. This marked the fourth consecutive session of gains, driven notably by robust performances in Information Technology and energy sectors.
On the other hand, the BSE Sensex reached an all-time peak of 79,396, breaching the 79,000 mark for the first time. This remarkable achievement comes amidst a backdrop of bullish sentiment, with the Nifty 50 rallying by 7% in just 23 sessions during the June Futures & Options expiry.
The bullish trend was underpinned by widespread buying across key sectors, particularly in IT and energy, while midcap stocks ended positively and smallcaps experienced marginal declines. Analysts are optimistic about sustained momentum in banking, IT, and FMCG sectors, foreseeing continued growth despite global economic uncertainties and fluctuating FII sentiments.
The real estate sector anticipates robust growth fueled by budgetary incentives, although concerns about valuations and FII activities influenced by US bond yields remain. Internationally, cautious US market performance ahead of key economic indicators has added complexity to investor sentiment, impacting global markets.
Amidst these dynamics, Indian indices demonstrate resilience and potential for continued growth, supported by strategic economic policies aimed at bolstering key sectors like real estate and IT.
Bank Nifty: Down by 0.11%
The Bank Nifty began positively, opening in the green but closed with a slight decline of 0.11%, settling at 52,811.30. Meanwhile, the BSE Sensex exhibited a contrasting performance, starting with a gain of 0.72% and closing higher at 79,243.18, marking a successful day amidst fluctuating market dynamics.
In the sectorial front, the Information Technology (IT) sector has shown significant gains, climbing by 2.03%. Leading the charge are prominent players like LTIMindtree Ltd., marking a robust increase of 3.58%, closely followed by Wipro Ltd. with a notable rise of 3.09%.
Conversely, the Media sector has faced challenges, recording a decline of 1.35%. Tips Industries Ltd. experienced a notable loss of -5.75%, while Zee Entertainment Enterprises Ltd. saw a downturn of -2.96%.
Foreign Institutional Investors (FII/FPI) displayed robust activity in the Indian markets. Their buy value amounted to Rs. 30,849.47 crore, whereas their sales totaled Rs. 23,190.70 crore. Consequently, the net FII/FPI investment stood at Rs. 7,658.77 crore, reflecting a significant inflow into the market.
Conversely, Domestic Institutional Investors (DII) engaged in a different trend during the same period. DIIs purchased equities worth Rs. 26,887.35 crore but sold shares amounting to Rs. 30,493.28 crore. As a result, the net DII investment depicted a deficit, standing at -Rs. 3,605.93 crore.
Bank Nifty
The Nifty Banking sector had some gainers and some losers for the day.
The gainers included Kotak Bank with a 1.77% increase, Axis Bank with a 0.21% increase, and IndusInd Bank with a 0.14% increase.
On the other hand, the biggest losers in the sector included Punjab National Bank with a 4.11% decline, AU Bank with a 4.01% decline, Bandhan Bank with a 2.27% decline, IDFC First Bank with a 0.59% decline, and HDFC Bank with a 0.30% decline. These results suggest that most of the banking stocks not performed better for the day.
Gold and Silver
Today 22 Carat Gold Price Per Gram in India (INR)
| Gram | 22 K Today | 22 K Yesterday | Price Change |
| 1 gram | ₹ 6,575 | ₹ 6,600 | ₹ -25 |
| 8 gram | ₹ 52,600 | ₹ 52,800 | ₹ -200 |
Today 24 Carat Gold Price Per Gram in India (INR)
| Gram | 24 K Today | 24 K Yesterday | Price Change |
| 1 gram | ₹ 7,173 | ₹ 7,200 | ₹ -27 |
| 8 gram | ₹ 57,384 | ₹ 57,600 | ₹ -216 |
Today Silver Price 1 Gram/KG in India (INR)
| Gram | Silver Rate Today | Silver Rate Yesterday | Price Change |
| 1 gram | ₹ 90 | ₹ 90 | ₹ 0 |
| 8 gram | ₹ 720 | ₹ 720 | ₹ 0 |
Rupee’s Performance Against the US Dollar
Positive Trends and Market Dynamics
On Thursday, the Indian rupee exhibited resilience, appreciating by 13 paise to settle at 83.44 against the US dollar. This upward movement was bolstered by a positive trajectory in domestic equity markets and a favorable macroeconomic outlook. However, gains were moderated by the strength of the American currency globally and heightened demand for dollars from local oil marketing companies.
Volatility and Recovery
The rupee continued its volatile trading pattern, trading higher at 83.47 after recovering from a previous session’s decline. Factors contributing to this recovery included a relatively weak dollar index and significant inflows from Foreign Institutional Investors (FIIs) into the capital markets. Despite these positives, market participants remain cautious, closely monitoring movements in the Core PCE price index data scheduled for release.
Bond Inflows and Market Conditions
The rupee closed stronger at 83.46, marking a marginal increase of 0.1% from its previous close of 83.57. This gain was supported by substantial inflows into domestic sovereign bonds, driven by their imminent inclusion in JPMorgan’s emerging market debt index. However, gains were capped by persistent demand for dollars from local oil firms, underscoring the balancing act between capital inflows and sector-specific currency demands.
As the rupee navigates through varying market pressures and economic indicators, its performance remains closely intertwined with global currency movements, domestic market dynamics, and sector-specific demands. Investors and traders alike continue to monitor these factors closely to gauge future currency trends and market sentiment.
Stocks Highlights
UltraTech Cement Ltd. saw a significant increase in its share price, rising by 5.45% to reach Rs 11,749.85 from its previous close of Rs 11,143.10. This gain is notable, with only 1.6% of trading sessions in the last 19 years witnessing intraday gains higher than 5%.
The company reported impressive quarterly revenue growth of 21.77%, marking its highest in the last three years. Technical analysis signals a bullish trend with a recent 5-day moving average crossover, historically resulting in an average gain of 2.63% over seven days. Comparatively, UltraTech Cement has outperformed the Nifty 100 index, delivering a three-year return of 65.7% versus 52.57%.
In contrast, Larsen & Toubro Ltd. experienced a slight decline in its share price, decreasing by -1.11% to Rs 3,563.00 from Rs 3,602.95. Similar to UltraTech Cement, only 1.32% of trading sessions in the last 19 years saw intraday gains exceeding 5%.
The company’s annual revenue growth of 20.94% has surpassed its three-year compound annual growth rate (CAGR) of 17.16%. Recent technical indicators show bullish sentiment, with a 50-day moving average crossover occurring on June 25, 2024, historically resulting in an average gain of 5.52% over 30 days. Notably, Larsen & Toubro has significantly outperformed the Nifty 100 index, boasting a three-year return of 137.15%.
Advance Decline Ratio
Today, the advance-decline ratio was 0.50, and the market breadth was negative. The volatility index India Vix decreased by 0.12 to settle at 14.03 and the FIIs were net buyers today.
DAILY MARKET ACTION
Advancers – 882
Decliners – 1759
52Wk High – 167
52Wk Low – 15
High Band Hitters – 92
Low Band Hitters – 84
200d SMA – 21403
50d SMA – 22760
20d SMA – 23246
Top Gainers and Losers Stocks
The top gainers were Ultratech Cement (+5.45%), LTIMindtree (+3.58%), Grasim (+3.24%), NTPC (+3.19%), and Wipro (+3.09%).
The top losers were Larsen & Toubro (-1.11%), Shriram Finance (-0.97%), Eicher Motors (-0.58%), Divi’s Laboratories (-0.49%), and HDFC Bank (-0.30%).
Top Gainers and Losers Sectors
The top gainers sector were IT (+2.03%), Oil & Gas (+0.86%), Auto (+0.69%), Metal (+0.55%), and FMCG (+0.36%).
The top losers sector were Media (-1.35%), Pharma (-0.16%), and Realty (-0.05%).
SECTORS – NOTABLE ACTION
IT +2.03%
OIL & GAS +0.86%
AUTO +0.69%
MEDIA -1.35%
PHARMA -0.16%
REALTY -0.05%
Stocks Ban List
(SEBI) F&O ban list (INDIACEM open at +285.00 and close at +293.23), (INDUSTOWER open at +363.00 and close at +365.15), (GNFC open at -695.45 and close at -672.30), (PNB open at +124.30 and close at -119.20) and (SAIL open at -144.70 and close at -142.88) are not currently on the stock exchange.
A stock enters the Ban List if its MWPL is above 95%. Implying that, Ban List shows the Futures and Options (FnO) stocks whose combined open interest in all FnO contracts for a given period crosses 95% of Market-Wide Position Limit.
GMRINFRA, PEL, HINDCOPPER, LICHSGFIN, IEX, RBLBANK, IDEA, BSOFT, CHAMBLFERT, GRANULES, BANDHANBNK, ABFRL, BALRAMCHIN, and IRCTC stocks has the possibilities of entrance in the ban list.
PNB, and SAIL stocks has the possibilities of exit from the ban list.
Daily Pivots
| S2 | S1 | P | R1 | R2 |
| 23697 | 23871 | 23979 | 24153 | 24261 |
As per the above pivots data, 23750 to 24250 is the Nifty 50 trading range.
Read Previous -Daily Insights- here
Indian Benchmark Indices Surge in Historic Second Session
Nifty Soars to New High! Banking Stocks Lead the Charge
Nifty 50 Takes a Wild Ride, But Bulls Manage to Buck Bronco!
This article is only for educational purposes and is not an investment advice.
