The Sensex opened at 76,885.65, moving within a range of 677 points with an intraday high of 77,423.02 and low of 76,745.94, before settling at 77,341.08, up by 131 points or 0.17%.
Similarly, the Nifty 50 opened at 23,382.30, reaching highs and lows of 23,558.10 and 23,350, respectively, and closed at 23,537.85, up by 37 points or 0.16%.
Market capitalisation on the BSE increased from ₹434.5 lakh crore to nearly ₹435.7 lakh crore, reflecting a gain of about ₹1.2 lakh crore for investors in a single session.
Impact on the stock market
Sectoral indices ended mixed today. Among the gainers, Nifty Auto rose by 0.87%, Consumer Durables increased by 0.75%, and FMCG climbed by 0.72%. Nifty Bank increased 0.08%, while PSU Bank and Private Bank indices declined by 0.66% and 0.12%, respectively.
The Nifty Media index dropped by 1.87%, and the Metal index fell by 0.64%.
| Sector/Index | Performance |
| Information Technology | -0.16% |
| Healthcare | -0.21% |
| Oil & Gas | -0.44% |
| Realty | +0.30% |
| PSU Banks | -0.66% |
Top gainers today
| Company | Price | Change (%) |
| M&M share price | 2,915.80 | +2.67% |
| Power Grid Corp share price | 332.95 | +2.15% |
| Shriram Finance share price | 2,882.25 | +2.15% |
| Grasim share price | 2,515.10 | +1.98% |
| Sun Pharma share price | 1,494.50 | +1.86% |
Top losers today
| Company | Price | Change (%) |
| Cipla share price | 1,504.40 | -2.41% |
| IndusInd Bank share price | 1,490.40 | -2.41% |
| Adani Ports share price | 1,460.25 | -1.70% |
| Coal India share price | 473.70 | -1.35% |
| Tata Steel share price | 177.96 | -1.10% |
Market aftermath: Impact on stocks
IREDA shares surge 4%
IREDA shares surged over 4% to ₹ 191.66 after the PSU raised ₹ 1,500 crore via bonds, oversubscribed at 2.65 times with a 7.44% annual interest rate for a 10-year tenure.
The stock, listed at ₹ 50 last year and reached an all-time high of ₹ 215 in February, has gained 82% YTD. Inclusion in the FTSE All-World Index, with anticipated inflows of $57 million, also boosted the stock. IREDA’s IPO launched at ₹ 32 per share.
Welspun Specialty soars 17%
Welspun Specialty Solutions shares surged over 17% to ₹44.4 on June 24 after securing a ₹117 crore order from BHEL for NTPC Talcher’s thermal power project. The order involves supplying seamless stainless steel boiler tubes for the 2×660 MW project.
In April, the company also secured a ₹21.64 crore contract from a domestic PSU. The Jhagadia plant in Gujarat will procure 15.5 MW of renewable energy at competitive rates. Shares closed at ₹42.40, up 12.08%.
Inox Green Energy shares drop 5%
Inox Green Energy shares plunged over 5% on June 24 as the board announced plans to raise funds, potentially up to ₹1,000 crore, through preferential allotment and warrants for future acquisitions.
Revenue for the January to March quarter declined by 7.8%, with EBITDA dropping 20.7% year-on-year to ₹11.5 crore. The company reported a net profit of ₹20.3 crore, a turnaround from a net loss of ₹1.8 crore the previous year, while margins decreased to 21.9% from 25.5%.
Crude oil futures decline
Crude oil futures declined on Monday due to a stronger dollar. At 9:33 am, September Brent oil futures were at $84.34, down 0.01%, and August WTI futures were at $80.66, down 0.09%.
July crude oil futures on MCX traded at ₹6743, down 0.04% from ₹6746, while August futures were at ₹6709, down 0.01% from ₹6710. At 9:58 am, the prices remained unchanged, with September Brent at $84.34 and August WTI at $80.66.
Conclusion
In conclusion, June 24 saw the Indian benchmark indices closing higher amidst volatile trading.
Stocks like IREDA and Welspun Specialty surged on positive news and contract wins, reflecting diverse sectoral movements. Meanwhile, crude oil futures declined marginally amid a stronger dollar.
Stay tuned to StockGro for further updates on market trends and developments.
