The Nifty 50 reached a peak of 24,174 but closed down 34 points, or 0.14%, at 24,010.60. Similarly, the Sensex hit a record high of 79,671.58 before settling 210 points lower, or 0.27%, at 79,032.73.
After a slight dip of 0.3% in May amid election uncertainties, the Nifty 50 rebounded strongly in June with a nearly 7% gain, supported by increased foreign institutional investor (FII) activity. Positive economic indicators and robust retail investor participation boosted market sentiment.
You may also like: UltraTech Cement’s bold move: A 23% stake in India Cements
Impact on the stock market
The Nifty Bank index closed down by 0.89%, mirroring a 0.87% decline in the Financial Services index. Conversely, the Nifty Private Bank index dropped 1.24%, while the PSU Bank index posted a robust gain of 0.88%.
Meanwhile, sectors like Nifty Oil & Gas (+1.68%), Pharma (+1.11%), and Healthcare (+1.10%) ended the session with notable gains.
| Sector/Index | Performance |
| Information Technology | +0.09% |
| Healthcare | +1.10% |
| Oil & Gas | +1.68% |
| Realty | +0.53% |
| PSU Banks | +0.88% |
Today top gainers in share market
| Company | Price | Change (%) |
| Dr Reddys Labs share price | 6,402.35 | +2.67% |
| ONGC share price | 274.20 | +2.50% |
| Reliance share price | 3,130.80 | +2.28% |
| SBI Life Insurance share price | 1,491.95 | +1.95% |
| Tata Motors share price | 989.75 | +1.82% |
Today top losers in share market
| Company | Price | Change (%) |
| IndusInd Bank share price | 1,464.50 | -2.55% |
| Bharti Airtel share price | 1,444.05 | -2.15% |
| Axis Bank share price | 1,265.25 | -1.84% |
| ICICI Bank share price | 1,199.60 | -1.66% |
| Kotak Mahindra share price | 1,802.50 | -1.53% |
Market aftermath: Impact on stocks today
KPI Green Energy shares surge 5%
KPI Green Energy Ltd announced it secured a ₹686 crore credit facility for a 200 MWAC Solar Photovoltaic Power Project in Khavda, Gujarat. Following this news, its shares surged 5%, closing at ₹1,804.85 on NSE on June 28.
The company, which raised ₹300 crore through a Qualified Institutional Placement (QIP), stated the funds will expedite the project’s development, aiming to achieve 1000 MWp capacity by 2025. KPI Green Energy, a Gujarat-based solar and hybrid energy producer, also approved a 1:2 stock split of its equity shares.
Also Read: Stanley Lifestyles IPO
Stanley Lifestyles IPO debuts at 34% premium on NSE
Stanley Lifestyles, a prominent luxury furniture brand in India, debuted on the NSE at ₹494.95, a 34% premium over its issue price of ₹369. The IPO aimed to raise ₹537.02 crore, with a fresh issue of ₹200 crore and an offer for sale of ₹337.02 crore.
The IPO, which ran from June 21 to June 25, was oversubscribed 96.98 times, driven by strong demand from retail and non-institutional investors. Stanley Lifestyles, founded in 2007, operates two manufacturing facilities in Bengaluru.
Reliance shares hit record high
Reliance Industries (RIL) shares hit a record high of ₹3,129 on June 28, pushing its market cap above ₹21 lakh crore for the first time. The stock has gained 21% year-to-date and 36% over the past year, outperforming the Sensex, which rose 10% and 25% respectively.
Boosted by a 20% tariff hike by Reliance Jio, analysts expect further gains.
Crude oil futures rise
Crude oil futures climbed higher on Friday morning amid rising tensions in West Asia. At 9:13 am, September Brent oil futures rose to $85.59, up by 0.39%, while August WTI crude oil futures were at $82.16, marking a 0.51% increase.
On the Multi Commodity Exchange (MCX), July crude oil futures traded at ₹6856, up 0.76%, with August futures at ₹6802, up 0.64% from the previous close.
Conclusion
In summary, June 28 saw profit-taking trim gains in the Indian stock market after recent highs, with the Nifty 50 and Sensex retreating slightly.
KPI Green Energy surged on securing a significant credit facility, while Stanley Lifestyles made a robust IPO debut. Reliance Industries hit a record market cap, driven by strong performance from its telecom arm. Crude oil futures rose amidst escalating tensions in West Asia.
Stay informed with StockGro for more insights into emerging trends.
