NewsMarketsNifty and Sensex Close in Green: Diamond & Jewellery Sector Shines, Power Stocks BuzzNifty and Sensex Close in Green: Diamond & Jewellery Sector Shines, Power Stocks Buzz
By ScanX News Team
Nifty 50 and BSE Sensex closed in green with modest gains. Diamond, Gems and Jewellery sector outperformed, rising 4.07%. IEX tumbled 7.97% on potential power exchange market coupling. United Spirits fell 6.63% amid block trades and excise duty hike news. Market breadth positive with 2,470 advancing stocks out of 4,433 traded.
*this image is generated using AI for illustrative purposes only.
Market Wrap: Positive Close for Indian Indices on June 11
The Indian stock markets concluded Wednesday's trading session on a positive note, with both benchmark indices, Nifty 50 and BSE Sensex, closing in the green. The market sentiment remained cautiously optimistic amid sector-specific movements and notable stock-level activities.
Market Overview
The Nifty 50 index closed at 25,126.35, registering a gain of 22.10 points or 0.09% from its previous close. Similarly, the BSE Sensex ended the day at 82,515.14, up by 123.42 points or 0.15%. These modest gains reflect a relatively stable market environment, with investors showing selective interest across various sectors.
Sectoral Performance
Top Performing Sectors
- Diamond, Gems and Jewellery (+4.07%)
- Engineering Services (+1.67%)
- Telecom (+1.61%)
- Healthcare (+1.46%)
- Power (+1.32%)
The Diamond, Gems and Jewellery sector outperformed all others, posting an impressive average percentage change of 4.07%. Engineering Services and Telecom sectors also showed strong performance, indicating investor confidence in these areas.
Underperforming Sectors
- Printing & Stationery (-3.19%)
- Cables (-2.61%)
- Aerospace & Defense (-1.36%)
The Printing & Stationery sector faced the most significant decline, followed by Cables and Aerospace & Defense sectors.
Buzzing Stocks
Indian Energy Exchange Ltd (IEX)
- Closing Price: ₹193.28
- Change: -7.97%
IEX shares tumbled following news that Power Minister Manohar Lal may conduct stakeholder consultations regarding market coupling of power exchanges. The government is considering aggregating buy and sell bids for uniform price discovery, which impacted investor sentiment towards the stock.
United Spirits Ltd
- Closing Price: ₹1,503.20
- Change: -6.63%
United Spirits saw significant activity with a block trade of approximately 168,378 shares at ₹1,520.00 per share, totaling ₹25.59 crores. Additionally, the Maharashtra state cabinet's approval of an increase in excise duty on liquor, potentially leading to higher liquor prices in the state, may have influenced the stock's performance.
Market Breadth
The overall market breadth leaned positive, indicating a generally optimistic investor sentiment:
| Category | Number of Scrips |
|---|---|
| Total Traded | 4,433 |
| Positive | 2,470 |
| Negative | 1,963 |
Conclusion
Wednesday's trading session ended on a positive note, with both Nifty and Sensex posting gains. The Diamond, Gems and Jewellery sector emerged as the top performer, while the Power sector saw significant buzz due to potential regulatory changes. Despite some sectoral challenges, the overall market breadth remained favorable, with more stocks advancing than declining.
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