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What happened in the Indian stock market today (25-Jun-2024)?

On June 25, 2024, Indian stock market benchmarks, the Nifty 50 and Sensex, surged to achieve record highs despite restrained global cues.

Indian stock market today (25-Jun-2024)

The Nifty 50 peaked at 23,754.15, while the Sensex reached 78,164.71 during the session. By closing, the Nifty 50 rose by 183 points (0.78%) to 23,721.30, and the Sensex gained 712 points (0.92%) to settle at 78,053.52, both marking fresh closing records. 

Despite mid and small-cap segments struggling, the overall market capitalisation of BSE-listed firms marginally increased from about ₹435.6 lakh crore to ₹435.8 lakh crore compared to the previous session.

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Impact on the stock market

Among sectoral indices, Nifty Bank and Nifty Private Bank each rose by 1.7%, while Nifty IT increased by 0.8%. 

Conversely, Nifty Realty declined by 1.75%, with Nifty Metal and Nifty Media falling by 0.7% and 0.5%, respectively.

Sector/IndexPerformance
Information Technology+0.81%
Healthcare+0.11%
Oil & Gas-0.45%
Realty-1.75%
PSU Banks+0.13%

Today top gainers in stock market

CompanyPriceChange (%)
Shriram Finance share price2,989.85+3.73%
Axis Bank share price1,271.45+3.53%
ICICI Bank share price1,197.95+2.38%
HDFC Bank share price1,711.35+2.33%
HDFC Life share price590.95+1.98%

Today top losers in stock market

CompanyPriceChange (%)
BPCL share price296.30-2.93%
Eicher Motors share price4,775.05-1.97%
Power Grid Corp share price327.40-1.67%
Asian Paints share price2,858.45-1.30%
Tata Steel share price175.68-1.28%

Market aftermath: Impact on stocks today

Amara Raja soars 20%

Amara Raja shares surged 20% to a record high of ₹ 1,656 on June 25 following a technical licensing agreement with China’s Gotion High-Tech for lithium-ion cell technology. Since the start of the year, the stock has rallied over 100%. 

In Q4 FY24, Amara Raja reported a 61.4% YoY increase in net profit to ₹ 229.8 crore and a 19.5% rise in revenue to ₹ 2,908 crore. EBITDA grew by 16.2% to ₹ 410.4 crore.

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Bandhan Bank shares plunge 4%

Bandhan Bank shares tumbled 4% after RBI appointed Arun Kumar Singh as an additional director ahead of CEO Chandra Shekhar Ghosh’s retirement on July 9, 2024. Singh, a retired RBI Chief General Manager, will serve on the Board from June 24, 2024, to June 23, 2025. 

The market reacted negatively, with shares dropping to ₹ 198.8 apiece. Macquarie views this as a prudent interim measure to ensure proper functioning, amid concerns over internal CEO candidates. Ghosh will take on a strategic role at Bandhan Group post-retirement.

Borosil shares surge 4%

Borosil shares jumped 4% on June 25 after the firm announced a Qualified Institutional Placement (QIP) to raise ₹ 250 crore at a floor price of ₹331.75 per share. Borosil, a market leader with over 60% share in microwavable glassware, operates four manufacturing facilities and distributes products in 70+ countries. 

At 11:57 am, shares traded at ₹357.55 on NSE, up 3.7%. Year-to-date, the stock gained over 5% but fell 16% over the past year, lagging behind Nifty 50’s 25% rise.

Crude oil latest news

Crude oil futures traded marginally lower on Tuesday morning amid ongoing economic challenges in China. At 9:14 am, September Brent oil futures were at $85.12, down 0.04%, and August WTI crude futures were at $81.62, down 0.01%. 

On the Multi Commodity Exchange (MCX), July crude oil futures were at ₹6817, down 0.07% from the previous close of ₹6822, and August futures were at ₹6778, down 0.03% from the last close of ₹6780.

Conclusion

In summary, June 25 was a landmark day for the Indian stock market as the Nifty 50 and Sensex achieved new record highs despite global uncertainties. 

Amara Raja surged significantly on a strategic agreement, while Bandhan Bank faced a setback with leadership changes. Borosil also made headlines with its fundraising efforts. Crude oil futures saw marginal declines amidst economic challenges. 

Stay updated with StockGro for more insights into market movements and trends.

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