BTN News: Benchmark equity indices close at record level on June 18 while NSE Nifty 50 made record high for 4th day in a row This success is attributed to why the market is so bullish, with policy continuity, along with robust global economic indicators, netting to form a near-perfect set-up.
Market Performance: At close Sensex zoomed 308 points to 77,301 and the Nifty gained 92.30 points to 23,557. During the session 1,928 shares advanced, 1,603 shares declined, and 109 shares were unchanged. During the day, both indices hit new highs of 77,366 and 23,579, respectively.
PSU Bank Index rallied 6%, while Nifty Realty and Nifty Bank led the gains to the tune of 3.72% / 3.62%, respectively, but healthcare, pharma, metal and FMCG, among others, faced selling pressure.
Expert Insights: Key Factors Supporting Market Uptrend Post-June 4 Events: According to Aishvarya Dadheech, Founder & CIO, Fident Asset Management, the post June 4 events, Indian markets shot up based specifically on the Political Stability of the Nation and the Macroeconomic s of the Country hence the first sign of eventuality that the markets can read into disclosed towards the better side of the universe a.b.
Share price: Shares of Wipro went up by 3% with the news of the extension of partnerships in the US with Hanesbrands and GBST, a provider of software and services to the financial services industry. On the other hand, Maruti Suzuki, Dr Reddys, and Tata Steel lost the most.
Defence Sector Buzz: Defence stocks like Hindustan Aeronautics climbed as a new ‘Request For Proposal’ from the Ministry Of Defence for 156 light combat helicopters fuelled a rally.
Market Outlook: Kranthi Bathini, WealthMills Securities There is plenty of catch-up market can do, will be stock-specific rather than sector specific for mid and smallcaps outperforming the benchmark indices (Nifty/Sensex) going forward.
Expectation: Over the next few sessions, market participants will consider the government’s budgetary interventions a key market trigger in the near term.
