Market Rally Continues, Sensex Up 308 Pts for, Nifty above 23,550

Ira Singh
Khabar Khabaron Ki,18 June’24

The domestic equity market indices,Sensex and Nifty extended gains to scale fresh record highs in early trade on Tuesday, rising 0.25 percent each, following gains from the global markets. At close the Sensex was up 308.37 points or 0.40 percent at 77,301.14, and the Nifty was up 92.30 points or 0.39 percent at 23,557.90The market breadth was in favour of gainers as around 1,916 shares advanced, 1,568 shares declined, and 123 shares unchanged

Highlights of trade:
●Sensex hits lifetime high,
●Nifty scales past 23,500 for the first time,
●Ixigo shares list at a premium of 49%,
●Paras Defence’s 3.29 lk shares traded via block deal; stock up 19%,
●HAL rally 6% as MoD to procure ‘Prachand’ helicopters.

Power Grid, Soori ,ICICI Bank,Titan were the top gainers on the Nifty, while losers included Maruti, UltraTech Cement, Tata Steel, Tata Motors, ITC and Tata Consultancy Services.

Sectoral performance was mixed, with gains in Realty, private banks, and IT, while pharma, metal, and FMCG sectors lagged. The broader indices maintained their positive momentum, reaching new record highs.

Rupee Close:
On 18th June’24, the Indian rupee appreciated 13 paise to settle at 83.42 against the US dollar on Tuesday, buoyed by fresh inflow of foreign capital and a firm trend in domestic equity markets. Forex traders said reports of dollar selling by public sector banks supported the Indian currency. However, higher crude oil prices capped the gains in the local unit.

Trading Guide:
Market experts have recommended buying these five buy or sell stocks — TVS Motor, Timken India, PNB, Birla Corporation, and ITC