June 19th 2024.
In Mumbai, the stock market saw a relatively uneventful day on Wednesday, as the benchmark indices, Sensex and Nifty, remained largely unchanged after reaching new record highs earlier in the session. This was due to a combination of profit-taking and a lack of immediate triggers for further growth.
The trading session was quite volatile, with the gains made by banking and financial stocks being offset by profit booking in consumer durables, capital goods and energy shares. Despite this, the Sensex managed to close at an all-time high of 77,337.59, after gaining 36.45 points or 0.05 per cent. Earlier in the day, it had soared to a fresh peak of 77,851.63, an increase of 550.49 points or 0.71 per cent.
The NSE Nifty also experienced a similar trend, ending the day at 23,516, a decline of 41.90 points or 0.18 per cent. However, it did manage to reach a new record of 23,664, after rising by 106.1 points or 0.45 per cent.
Out of the 30 companies listed in the Sensex, several banking and financial institutions such as Axis Bank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, IndusInd Bank, and State Bank of India saw gains. On the other hand, companies like Titan, Maruti, Bharti Airtel, Larsen & Toubro, NTPC, and Reliance Industries were among the laggards.
In the broader market, Asian markets such as Seoul, Tokyo, and Hong Kong closed higher, while Shanghai ended on a downward trend. Meanwhile, European markets were seeing a decline in mid-session deals, and the US markets had ended on a positive note on Tuesday.
According to exchange data, Foreign Institutional Investors had bought equities worth Rs 2,569.40 crore on Tuesday. In terms of oil, the global benchmark, Brent crude, saw a decrease of 0.22 per cent, settling at $85.14 per barrel.
The previous day had seen a more positive trend, with the Sensex gaining 308.37 points or 0.40 per cent to close at 77,301.14, while the Nifty had hit a record closing high of 23,557.90, after rising by 92.30 points or 0.39 per cent.
Overall, the stock market in Mumbai showed a mix of gains and losses, with no major triggers for further growth, leading to a relatively flat day for the benchmark indices.
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