Stock market today: Nifty 50, Sensex settle at record closing highs; ICICI Bank, HDFC Bank top index movers

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Stock market today: The Indian stock market’s record-breaking spree continued as key equity indices—the Sensex and the Nifty 50—settled at their fresh record highs on Tuesday, June 18.

Positive global cues influenced sentiment back home, while gains in select heavyweights, including HDFC Bank, ICICI Bank and Power Grid, kept the benchmarks up. 

The Nifty 50 remained in the green for the fifth consecutive session, rising nearly 5 per cent for June so far, as investors remain positive about the Indian stock market’s medium—to long-term prospects. With elections over, market focus has shifted to the upcoming Budget, macroeconomic prints, global cues, and stock fundamentals.

On Tuesday, Sensex hit its fresh all-time high of 77,366.77 during the session and closed 308 points, or 0.40 per cent, higher at 77,301.14. Nifty 50 hit its fresh all-time high of 23,579.05 during the session and ended 92 points, or 0.39 per cent, higher at 23,557.90.

Both the frontline indices ended at their fresh closing highs.

In terms of index contributions, shares of ICICI Bank, HDFC Bank, Power Grid, Infosys, Mahindra and Mahindra and Axis Bank ended as the top contributors to the gains in the Nifty 50 index.

Mid and smallcap indices outperformed the benchmarks; the BSE Midcap and Smallcap indices closed 0.43 per cent and 0.96 per cent higher, respectively.

The overall market capitalisation of the firms listed on the BSE rose to nearly 437.3 lakh crore from nearly 434.9 lakh crore in the previous session, making investors richer by about 2.4 lakh crore in a single session.

As many as 384 stocks, including Mahindra and Mahindra, Tata Steel, Bajaj Auto, Cipla, DMart, Eicher Motors and Hero MotoCorp, hit their fresh 52-week highs in intraday trade on BSE.

(More to come)

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Published: 18 Jun 2024, 03:32 PM IST


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