June 21st 2024.
The stock market in Mumbai saw a pause in its impressive streak as the Sensex and Nifty indices faced a downward trend due to investors pulling back on their investments in oil & gas, capital goods, and FMCG stocks. This was in line with the global market's bearish performance.
After six consecutive days of gains, the 30-share BSE Sensex dropped by 269.03 points or 0.35 percent to close at 77,209.90. In the midst of the trading day, it even plummeted by 676.93 points or 0.87 percent to reach 76,802.
On the other hand, the Nifty initially reached a new high of 23,667.10, gaining 100.1 points. However, it was unable to sustain this momentum and eventually settled at 23,501.10, slipping by 65.90 points or 0.28 percent.
Out of the 30 companies on the Sensex index, UltraTech Cement, Larsen & Toubro, Tata Motors, Nestle, Tata Steel, Hindustan Unilever, Bajaj Finance, Reliance Industries, Mahindra & Mahindra, and State Bank of India experienced the biggest losses. Conversely, Bharti Airtel, Infosys, JSW Steel, Tata Consultancy Services, Wipro, and NTPC were among the top gainers.
Meanwhile, Asian markets such as Seoul, Tokyo, Shanghai, and Hong Kong all closed lower. In Europe, stock prices were also in the red. However, the US markets ended with a mix of positive and negative performances on Thursday.
According to exchange data, Foreign Institutional Investors bought equities worth Rs 415.30 crore on Thursday.
The global oil benchmark, Brent crude, decreased by 0.16 percent to $85.57 per barrel.
Despite the overall decline in the market, the BSE benchmark Sensex still managed to reach a new closing peak of 77,478.93, rising by 141.34 points or 0.18 percent on Thursday. Similarly, the Nifty also achieved a fresh closing high of 23,567, increasing by 51 points or 0.22 percent.
Overall, it was a day of ups and downs for the stock market as various factors, both domestic and global, influenced the market's performance. Investors will continue to closely monitor the market and make informed decisions based on the latest developments.
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