The Sensex and Nifty 50 continued their record-breaking streak. During the session, the Sensex hit a fresh all-time high of 77,366.77 and closed 308 points higher at 77,301.14. The Nifty 50 also peaked at 23,579.05, ending the day 92 points at 23,557.90.
This marked a significant 0.40% increase for the Sensex and a 0.39% rise for the Nifty 50.
Positive global cues and strong performances by heavyweights like HDFC Bank, ICICI Bank, and Power Grid boosted investor sentiment. Despite a few sectors lagging, the overall market remained upbeat.
Impact on the stock market
Nifty Realty surged by 1.88%, Consumer Durables by 1.59%, and Private Bank by 1.10%. The Nifty Bank index closed 0.88% higher, while the PSU Bank index was up 0.25%.
However, not all sectors were positive—Nifty Media fell by 0.64%, Pharma by 0.35%, and Metal by 0.22%.
| Sector/Index | Performance |
| Information Technology | +0.59% |
| Healthcare | -0.50% |
| Oil & Gas | -0.05% |
| Realty | +1.88% |
| PSU Banks | +0.25% |
Top gainers today
| Company | Price | Change (%) |
| Shriram Finance share price | 2,829.75 | +3.57 |
| Power Grid Corp share price | 331.80 | +3.20 |
| Wipro share price | 491.85 | +3.01 |
| Titan Company share price | 3,589.00 | +1.67 |
| ICICI Bank share price | 1,122.85 | +1.56 |
Top losers today
| Company | Price (in Rs) | Change (%) |
| Maruti Suzuki share price | 12,560.95 | -284.25 |
| Dr Reddys Labs share price | 5,991.25 | -94.00 |
| Tata Steel share price | 181.12 | -2.03 |
| UltraTechCement share price | 11,119.05 | -123.75 |
| Hero Motocorp share price | 5,754.85 | -49.35 |
Market aftermath: Impact on stocks
Ixigo’s stellar IPO debut
Travel aggregator Ixigo, listed under Le Travenues Technology, made a strong debut on the stock exchange. Opening at ₹138.10 on the NSE, it marked a 48.5% premium over its issue price of ₹93.
The IPO, worth ₹720 crore, was highly oversubscribed at 98.34 times, making it the 10th most subscribed IPO of 2024. Investors are optimistic about Ixigo’s future plans, including investments in cloud infrastructure and potential acquisitions.
Biocon’s tumble
Biocon shares fell over 2% after the US Food and Drug Administration issued three observations for its Active Pharmaceutical Ingredients (API) facility in Visakhapatnam.
Despite this dip, Biocon’s shares are still up 32% for the year so far. The company assured investors that it would address the FDA’s concerns promptly.
Paras Defence’s record high
Paras Defence and Space Technologies soared to a record high, locked in a 20% upper circuit at ₹1,388.25, following two large deals.
About 7.06 lakh shares changed hands at ₹1,252, and another 17.30 lakh shares were traded at ₹1,388 apiece, valuing the transactions at ₹88.7 crore and ₹229.40 crore, respectively.
Crude oil prices
Crude oil futures saw a slight decline despite forecasts of improved demand. As of Tuesday morning, August Brent oil futures were down 0.15% at $84.12, and August WTI futures were down 0.18% at $79.58.
On the Multi Commodity Exchange (MCX), June crude oil futures traded at ₹6691, up by 0.31%, and July futures were at ₹6650, up by 0.30%. These minor fluctuations reflect a balancing act between profit-taking and positive demand forecasts.
Conclusion
June 18 was a day of new records and notable stock movements in the Indian stock market. The Sensex and Nifty 50 hit fresh highs, driven by gains in key sectors and heavyweight stocks.
Ixigo’s impressive IPO debut, Biocon’s temporary setback, and Paras Defence’s surge highlight the varied and dynamic nature of the market. Meanwhile, crude oil prices saw minor fluctuations, reflecting the ongoing global economic trends.
As the market navigates these dynamic movements, investors remain focused on sector-specific trends and upcoming developments, particularly in anticipation of new government policies and economic indicators.
Stay tuned on StockGro for more such updates!
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