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What happened in the Indian stock market today?

On June 13, 2024, India's benchmark indices surged to new all-time highs amid upbeat macroeconomic data, boosting confidence in the country's economic prospects.

The Sensex peaked at 77,145.46 during the session, while the Nifty 50 reached a high of 23,481.05. By the close, the Sensex settled at 76,810.90, up 204 points (0.27%), and the Nifty 50 ended at 23,398.90, gaining 76 points (0.33%). 

The total market capitalisation on the BSE rose from ₹429.3 lakh crore to nearly ₹431.7 lakh crore, reflecting a wealth creation of approximately ₹2.4 lakh crore for investors in a single session.

Impact on the stock market

Amongst sectoral indices Nifty Realty and Nifty IT were the major gainers as they rose 2% and 1%, respectively. 

Meanwhile, Nifty Media and Nifty FMCG were the worst hit, declining 1% and 0.6%.

Sector/IndexPerformance
Information Technology+1.03%
Healthcare+0.69%
Oil & Gas+0.69%
Realty+2.24%
PSU Banks-0.07%

Today top gainers in stock market

CompanyPriceChange (%)
Shriram Finance share price2,684.30+4.57%
HDFC Life share price593.50+3.63%
Divis Labs share price4,593.50+3.17%
M&M share price2,861.70+2.66%
Titan Company share price3,472.20+2.66%

Today top losers in stock market

CompanyPriceChange (%)
HUL share price2,491.70-1.46%
Britannia share price5,379.65-1.10%
Axis Bank share price1,175.45-1.05%
Power Grid Corp share price321.30-1.03%
Eicher Motors share price4,801.50-1.01%

Market aftermath: Impact on stocks

Oracle financial services software shares surge 13%

Oracle Financial Services Software shares surged 13% to a 52-week high of ₹9,582.95 after Oracle Corp’s strong Q4 results. Oracle Corp reported a 5% YoY net income decline to $3.14 billion, with total revenue up 3% YoY to $14.28 billion and operating income up 13% YoY to $4.68 billion. 

For FY24, Oracle Corp’s net income rose 23% YoY to $10.46 billion, with total revenue up 6% to $52.96 billion. Oracle Financial Services Software’s net income rose 23% YoY to ₹2,219 crore, with revenue up 12% to ₹6,373 crore.

Paytm shares surge 5%

Paytm shares surged over 5% to ₹425.35 on the NSE and ₹425.50 on the BSE after announcing a partnership with Samsung. The deal allows Samsung Galaxy smartphone users to add tickets directly to Samsung Wallet via the Paytm app. 

The partnership includes booking options for movies, flights, buses, and events, enhancing user convenience. Paytm, operated by One 97 Communications, saw its stock rise 5.68% on the NSE and 5.67% on the BSE following the announcement.

L&T finance soars 5%

L&T Finance shares surged 5% on June 13 after 8.8 crore shares changed hands in a block deal. Reports indicate that Bain Capital and BNP Paribas sold their 3.54% stake at a floor price of ₹169.17 per share, a 0.85% discount to the previous close of ₹170.62. 

Despite the discount, the stock hit an intraday high of ₹179.18 on the NSE. Bain Capital previously sold a 2.82% stake for ₹910 crore at ₹130 per share in September 2023.

Crude oil futures dip

Crude oil futures fell on Thursday morning due to a rise in US inventories. At 9:06 am, August Brent oil futures dropped 0.35% to $82.31, and July WTI futures declined 0.34% to $78.23. 

June crude oil futures on MCX decreased 0.56% to ₹6540 from ₹6577, while July futures fell 0.55% to ₹6525 from ₹6561 during the initial hour of trading.

Conclusion

In summary, June 13 saw the Indian stock market soar to unprecedented heights, buoyed by robust economic indicators and positive global cues. The Sensex and Nifty 50 achieved new record levels, reflecting investor optimism amidst significant sectoral gains. 

Key stock movements included Oracle Financial Services Software, Paytm, and L&T Finance, each showcasing notable increases. 

Stay informed with StockGro for more updates on market dynamics and trends.

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