Stock market closes in green amid broad-based gains
Jun 14, 2024
Mumbai (Maharashtra) [India], June 14 : The stock market closed on a positive note on Friday, with the BSE Sensex and NSE Nifty both registering gains.
The Sensex climbed 138.59 points to end the day at 76,949.49, while the Nifty rose by 55.00 points, closing at 23,453.90.
The trading session saw mixed performances among the Nifty firms, with 28 companies advancing and 22 declining.
Eicher Motors, Adani Ports, Mahindra & Mahindra (M&M), Shriram Finance, and Titan emerged as the top gainers. On the flip side, Tech Mahindra, Tata Consultancy Services (TCS), Wipro, HCL Technologies, and Larsen & Toubro (LT) were the prominent losers.
Sectoral indices, barring the IT and media sectors, displayed positive momentum. The auto and consumer durables sectors led the rally, reflecting robust investor sentiment.
The broader market mirrored the buoyancy, with the BSE SmallCap index surging by 1.11 per cent and the BSE MidCap index climbing by 1.21 per cent.
The Nifty 50 achieved a new all-time high of 23,490.40, and the Sensex surpassed the 77,000 mark during intraday trading. Additionally, the Nifty Midcap 100 index reached a fresh lifetime high of 55,262.15.
In international markets, European stocks experienced a tumultuous week, their worst since January, amid concerns over political instability in France.
The Stoxx 600 remained flat, while France's CAC 40 index declined by 1 per cent. The euro weakened against the dollar as a result.
U.S. markets showed resilience, with S&P 500 futures holding steady after setting four record highs during the week.
The dollar index rose against major currencies, maintaining its strength, while Treasury yields stayed relatively stable following a prior decline.
Varun Aggarwal, founder and managing director, Profit Idea, said, "In Asia, MSCI's Asia Pacific index fell, mainly driven by losses in Australian and Chinese stocks, despite gains in Japan. The Bank of Japan's decision to delay details on its bond-buying reduction until July impacted the yen, leading to its decline. Governor Kazuo Ueda hinted at a possible rate hike in July, depending on economic data, potentially influencing overseas investment flows during the summer months."
As the market closes this week, investors will keenly watch for domestic and international economic cues that could influence future trading sessions.
The overall positive sentiment in the Indian market indicates a strong start to the upcoming trading week, despite global uncertainties.
