Nifty Soars Past 24,900, Sensex Gains 0.81% as Education Sector Leads Rally
By ScanX News Team
Indian stock markets closed on a robust note, with Nifty 50 surging 0.89% to 24,939.75 and Sensex climbing 0.81% to 81,774.26. The education sector outperformed with a 6.18% gain, followed by telecom equipment and energy sectors. Manufacturing-related industries faced headwinds, with castings and forgings declining 2.28%. Bajaj Finance adjusted post stock split and bonus issue, while United Drilling Tools and Sterlite Technologies saw significant gains on positive developments. Market breadth was slightly negative with 2,390 declining stocks against 2,040 advancing.
*this image is generated using AI for illustrative purposes only.
Market Wrap: Bulls Charge Ahead
The Indian stock markets concluded the trading session on a robust note, with both benchmark indices posting significant gains. The positive sentiment was driven by strong performances in the education and energy sectors, offsetting losses in manufacturing-related industries.
Market Overview
The NSE Nifty 50 surged by 221.15 points or 0.89% to close at 24,939.75, while the BSE Sensex climbed 655.66 points or 0.81% to finish at 81,774.26. The market's strength was evident as both indices maintained their upward trajectory throughout the day.
Sectoral Performance
Top Performing Sectors
| Sector | Avg. Percentage Change |
|---|---|
| Education | 6.18 |
| Telecomm Equipment & Infra Services | 1.95 |
| Energy | 1.36 |
| Insurance | 1.08 |
| Oil & Gas | 1.00 |
The education sector emerged as the standout performer, registering an impressive average gain of 6.18%. Telecom equipment and infrastructure services followed with a robust 1.95% increase.
Underperforming Sectors
| Sector | Avg. Percentage Change |
|---|---|
| Castings, Forgings & Fasteners | -2.28 |
| Packaging | -1.28 |
| Engineering Services | -1.03 |
| Diamond, Gems and Jewellery | -0.81 |
| Capital Goods - Electrical Equipment | -0.37 |
Manufacturing-related sectors faced headwinds, with castings, forgings, and fasteners experiencing the steepest decline of 2.28% on average.
Buzzing Stocks
Bajaj Finance
Bajaj Finance shares began trading ex-split (1:2) and ex-bonus (4:1), following the record date of June 13. The stock split reduced the face value from Rs 2 to Rs 1 per share, while the bonus issue granted 4 additional shares for each share held. As a result of these corporate actions, the stock price adjusted significantly, showing a technical decline of 89.95% to Rs 938.
United Drilling Tools
United Drilling Tools saw a substantial uptick, surging 20.00% to Rs 243.99. The company secured a new order valued at ₹108 crores, signaling potential revenue growth and boosting investor confidence.
Sterlite Technologies
Sterlite Technologies shares rallied 19.99% to Rs 99.99 after the company announced an expansion of its Data Centre portfolio with new AI-focused solutions. The launch of high-performance fibre and copper cabling solutions for modern data centres, coupled with a distribution partnership with Tech Data - India, fueled the stock's rise.
Market Breadth
The overall market breadth leaned slightly negative:
| Category | Number of Scrips |
|---|---|
| Total | 4430 |
| Positive | 2040 |
| Negative | 2390 |
Conclusion
The trading session ended on a positive note, with broad-based gains led by the education and energy sectors. While some manufacturing-related sectors faced pressure, the overall market sentiment remained upbeat, reflected in the significant advances of both the Nifty 50 and Sensex.
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