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What happened in the Indian stock market today (26-Jun-2024)?

On June 26, 2024, India's benchmark indices, the Sensex and Nifty 50, closed higher amid volatile trading.

Market News 26th June

The Nifty 50 reached a new record high, surpassing 23,754.2, while the Sensex peaked at 78,188.16 points before settling at 78,674.25, up by 620.73 points or 0.80%. The Nifty 50 closed at 23,868.80, gaining 147.50 points or 0.62%. Nifty Bank also set a new high, crossing 52,746.5 during the session. 

Impact on the stock market today

Financial Services, Media, Oil & Gas, FMCG, PSU Banks, and Private Banks led gains among NSE sectoral indices, ranging from 0.3% to 2%. 

Meanwhile, the Auto, Metal, Realty, and Consumer Durables sectors saw 0.7% to 1.5% decline. IT and Pharma sectors remained unchanged, ending the session flat.

Sector/IndexPerformance
Information Technology-0.06%
Healthcare-0.18%
Oil & Gas+1.39%
Realty-1.43%
PSU Banks+0.33%

Today top gainers today in share market

CompanyPriceChange (%)
Reliance share price3,028.05+4.12%
Bharti Airtel share price1,459.50+3.15%
UltraTechCement share price11,143.10+2.74%
ICICI Bank share price1,218.00+1.67%
Grasim share price2,552.25+1.40%

Today top losers today in share market

CompanyPriceChange (%)
Apollo Hospital share price6,136.80-2.52%
M&M share price2,851.50-1.99%
Bajaj Auto share price9,474.65-1.92%
Tata Steel share price172.56-1.78%
Hindalco share price674.70-1.58%

Market aftermath: Impact on stocks today

ZEEL shares surge 5%

ZEEL shares surged over 5% on June 24 after the NCLT allowed the company to withdraw its plea for implementing the Sony merger deal. The stock hit a high of ₹157.39 on the NSE and closed 4.18% higher at ₹154.9. ZEEL moved the withdrawal application on April 17, 2024.

The company’s shares had plunged over 46% in 2024 following the failed merger deal, reaching a 52-week low of ₹125.50 on June 4, 2024.

Zee Media shares surge 6%

Zee Media stock jumped over 6% to ₹15.2 on NSE and BSE after its Board approved fundraising up to ₹200 crore via various instruments. The company reported a Q4 FY24 net loss of ₹6.51 crore, compared to a ₹45.79 crore loss in the previous year. 

Revenue from operations rose 21.2% to ₹178.98 crore from ₹161.82 crore. The fundraising will be subject to shareholder and regulatory approvals. Zee Media focuses on broadcasting news and regional language channels.

SBI raises ₹10,000 crore via bonds at 7.36% coupon rate

State Bank of India (SBI) raised ₹10,000 crore through its fifth infrastructural bond issuance at a coupon rate of 7.36%. The issue received bids worth ₹19,884 crore, oversubscribing the base issue size of ₹5,000 crore by nearly four times with 143 bids from various investors. 

The funds will support infrastructure and affordable housing. In Q4 FY24, SBI’s net profit rose 24% YoY to ₹20,698 crore, while shares have increased 32% year-to-date and 52% over the past year.

Crude oil futures rise

Crude oil futures traded higher on Wednesday morning despite industry data showing increased US inventories. By 9:33 am, September Brent oil futures were at $84.62, up 0.47%, and August WTI crude oil futures were at $81.25, up 0.52%. July crude oil futures on the Multi Commodity Exchange (MCX) were at ₹6782, up 0.16% from the previous close of ₹6771, while August futures were at ₹6737, up 0.01% from ₹6736.

Conclusion

In summary, June 26 marked a historic day for the Indian stock market as both the Nifty 50 and Sensex soared to unprecedented heights amidst volatile trading. 

ZEEL and Zee Media saw substantial gains due to pivotal developments, while SBI secured significant funding through a successful bond issuance. Crude oil futures posted gains despite increased US inventories. 

Stay informed with StockGro for deeper insights into today’s market dynamics and ongoing trends.

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