Market Crash,Sensex Drops 210 Pts, Nifty at 24,010 Amid Global Cues

Ira Singh
Khabar Khabaron Ki,28 June’24

The domestic stock market ended the session on a lower note on Friday after scaling fresh peaks at the start of the session, amid buying across sectors and bluechips. Sensex rallied over 250 points to cross the 79,500 level while Nifty also scaled a new peak of 24,124.25 in the morning session.At close, the Sensex was down 210.45 points or 0.27 percent at 79,032.73, and the Nifty was down 33.90 points or 0.14 percent at 24,010.60. About 1929 shares advanced, 1449 shares declined, and 80 shares unchanged.

Highlights from trade:
●The Stoxx Europe 600 was little changed as of 9:04 a.m. London time,
●S&P 500 futures rose 0.2%,
●Nasdaq 100 futures rose 0.3%,
●Futures on the Dow Jones Industrial Average were little changed,
●The MSCI Asia Pacific Index rose 0.3%,
●The MSCI Emerging Markets Index rose 0.4%

ONGC, Dr Reddy’s Labs, Reliance Industries, SBI Life Insurance and Tata Motors were the biggest gainers on the Nifty, while losers included IndusInd Bank, Bharti Airtel, Axis Bank, ICICI Bank and Kotak Mahindra Bank.

On the sectoral front, healthcare, metal, PSU Bank, oil & gas, realty up 0.5-1 percent, while bank index down 1 percent and capital goods index shed 0.4 percent.The BSE midcap and smallcap index added 0.5 percent each.

Rupee Close:
On 28 June’24,the Indian rupee appreciated 7 paise to close at 83.39 against the U.S. dollar on Friday , supported by a positive trend in domestic equities and foreign fund inflows. Forex traders said the strength of the American currency in the overseas market and elevated crude oil prices weighed on the local unit and restricted the appreciation bias.

Trading Guide:
Market experts have recommended buying these five buy or sell stocks -Asahi Songwon, Bayer Crop, Tata Motors, DMart, and Apollo Hospitals.