The Sensex opened at 76,679.11, climbing 594 points to reach an intraday high of 77,050.53 before settling at 76,606.57, a gain of 150 points or 0.20%.
Meanwhile, the Nifty 50 hit a fresh all-time high of 23,441.95 from its opening at 23,344.45, ending at 23,322.95, up by 58 points or 0.25%.
Major European and Asian markets rose, anticipating eased US inflation data and insights from Federal Reserve Chair Jerome Powell on potential rate cuts.
Investors awaited the US May Consumer Price Index and Federal Reserve policy decisions while the focus shifted to the upcoming Union Budget domestically.
Impact on the stock market today
All sectoral indices closed with gains except for the Nifty FMCG (-0.51%), Auto (-0.05%), and Realty (-0.04%).
Notably, Nifty Media (1.89%), PSU Bank (1.16%), Healthcare (0.84%), and Oil & Gas (0.83%) witnessed significant increases. Meanwhile, Nifty Bank rose by 0.38%, and the Private Bank index closed 0.39% higher.
| Sector/Index | Performance |
| Information Technology | +0.05% |
| Healthcare | +0.84% |
| Oil & Gas | +0.83% |
| Realty | -0.04% |
| PSU Banks | +1.16% |
Today top gainers in stock market
| Company | Price | Change (%) |
| Coal India share price | 488.70 | +2.59% |
| Power Grid Corp share price | 324.65 | +2.56% |
| Eicher Motors share price | 4,850.65 | +1.93% |
| SBI Life Insurance share price | 1,452.70 | +1.73% |
| Tech Mahindra share price | 1,370.60 | +1.57% |
Today top losers in stock market
| Company | Price | Change (%) |
| M&M share price | 2,787.55 | -1.69% |
| Britannia share price | 5,439.30 | -1.42% |
| HUL share price | 2,528.70 | -1.08% |
| TATA Consumer share price | 1,124.65 | -0.96% |
| Titan Company share price | 3,382.30 | -0.83% |
Market aftermath: Impact on stocks today
Reliance power shares surge 8%
Reliance Power shares surged 8% on Wednesday after reports indicated the firm repaid around ₹800 crore to banks, becoming debt-free on a standalone basis. The stock has risen nearly 30% year-to-date and gained over 96% last year.
As of March 31, 2024, non-current borrowings were ₹284.07 crore and total current liabilities were ₹5,112.28 crore. The company reported a consolidated net loss of ₹397 crore in Q4 FY24, with revenue from operations rising 16% to ₹1,996.65 crore.
Heritage Foods: Shares dip 5% on block deal worth ₹89 crore
Shares of Heritage Foods fell 5% on June 12 after 14.2 lakh shares worth ₹89.4 crore changed hands in a block deal. The deal price averaged ₹629 per share.
This followed a previous block deal on June 10, in which 44 lakh shares worth ₹320 crore traded at ₹725 per share, causing a 10% surge. The stock has corrected 5% for two consecutive sessions. Heritage Foods shares gained 55.7% in June 2024 and tripled over the past year.
HCC shares surge 9% to hit 52-week high
HCC shares surged nearly 9% to hit a 52-week high of ₹51.18 on June 12, 2024, marking the sixth consecutive day of gains. This rally follows strategic initiatives like debt restructuring and asset monetisation.
The stock’s robust performance includes a 76% rise year-to-date, a 42% increase in the last three months, and remarkable returns of 155% over the past year.
Crude oil futures rise
Crude oil futures surged Wednesday morning after the US Energy Information Administration projected growth in 2024 oil demand. At 9:10 am, August Brent oil futures reached $82.27, up by 0.43%, while July WTI futures stood at $78.34, up by 0.56%.
On the MCX, June crude oil futures traded at ₹6544, rising by 0.28%, and July futures at ₹6533, up by 0.25% from the previous close of ₹6517.
Conclusion
In conclusion, June 12 showcased a positive trend in the Indian stock market, bolstered by optimistic global cues. Despite minor fluctuations, key indices like the Sensex and Nifty 50 displayed resilience, reflecting investor confidence.
Noteworthy movements in various sectors, alongside significant stock performances by companies like Reliance Power, Heritage Foods, and HCC, added strength to the trading session.
Stay tuned for further updates on StockGro!
