NewsMarketsMarket Wrap: Nifty and Sensex Surge Over 0.5% on June 5, Aerospace & Defense Sector SoarsMarket Wrap: Nifty and Sensex Surge Over 0.5% on June 5, Aerospace & Defense Sector Soars
By ScanX News Team
Indian stock markets ended positively on June 5, with Nifty 50 and BSE Sensex gaining over 0.5%. The Aerospace & Defense sector led gains, up 3.07%. RAMA Steel Tubes surged 12.72% after announcing entry into renewable energy. Market breadth was positive with 2,425 advancing stocks out of 4,317 traded. Nifty closed at 24,750.90 and Sensex at 81,442.04.
*this image is generated using AI for illustrative purposes only.
Market Overview
The Indian stock markets concluded on a positive note on June 5, with both benchmark indices, Nifty 50 and BSE Sensex, registering gains of over half a percent. The market sentiment remained upbeat throughout the trading session, driven by strong performances in select sectors.
The Nifty 50 index closed at 24,750.90, up 130.70 points or 0.53% from the previous close. Similarly, the BSE Sensex ended the day at 81,442.04, marking a rise of 443.79 points or 0.55%.
Sectoral Performance
The day saw a mixed bag of sectoral performances, with some sectors outperforming while others faced selling pressure.
Top Performing Sectors
| Sector | Average % Change |
|---|---|
| Aerospace & Defense | 3.07 |
| Trading | 2.37 |
| Castings, Forgings & Fasteners | 1.82 |
The Aerospace & Defense sector emerged as the top gainer, showcasing robust growth with an average percentage change of 3.07%. The Trading sector followed closely, registering an average uptick of 2.37%.
Underperforming Sectors
| Sector | Average % Change |
|---|---|
| Cables | -1.94 |
| Printing & Stationery | -1.66 |
On the flip side, the Cables sector experienced the steepest decline, with an average percentage change of -1.94%. The Printing & Stationery sector also faced headwinds, declining by an average of 1.66%.
Buzzing Stocks
RAMA Steel Tubes Ltd caught investors' attention today, with its stock price surging by 12.72% to close at ₹13.20. The company announced its foray into the renewable energy market by acquiring a stake in a 225 MW PM-KUSUM solar power project. This strategic move into the solar energy sector sparked investor interest in the stock.
Market Breadth
The overall market breadth remained positive, indicating a bullish sentiment among investors. Out of the total 4,317 scrips traded:
| Direction | Number of Scrips |
|---|---|
| Positive | 2,425 |
| Negative | 1,892 |
The number of advancing stocks significantly outpaced the declining ones, further confirming the positive market sentiment.
Conclusion
The Indian stock markets ended the trading session on June 5 on a strong note, with both Nifty 50 and BSE Sensex posting gains of over 0.5%. The Aerospace & Defense sector led the rally, while RAMA Steel Tubes emerged as a standout performer following its expansion into the renewable energy sector. The positive market breadth suggests a broad-based buying interest among investors.
