The markets traded within a narrow range throughout the day, closing nearly unchanged after a recent surge. Initially positive, the session saw profit-taking in key heavyweights that offset early gains, resulting in the Nifty settling around 24,009.30 levels, down by 0.15 per cent. Despite this, sectors like energy, pharma, and metal ended in positive territory, contributing to gains of around 0.5 per cent-0.9 per cent in broader indices.

Looking ahead, there's a possibility of consolidation in the benchmark index following recent upward movement, with support expected around the 23,700-23,900 range on any declines. Banking stocks are currently consolidating, while sectors such as IT, energy, and FMCG are buoying the index higher. Similar market dynamics are anticipated in the upcoming session, so traders should strategize accordingly.

(Comment by: Ajit Mishra – SVP, Research, Religare Broking Ltd.)

3:46 PM

Tech View: Index looks a bit heavy, might attract profit booking

The index formed a small-bodied red candle, breaking a four-day winning streak. The sentiment continues to remain strong as the index closed significantly above the critical moving average.

However, after a continuous rally, the index looks a bit heavy and might attract profit booking if Nifty sustains below 24,000. On the lower end, the index might fall towards 23,850/23,700 in the short term upon a decisive fall below 24,000. On the higher end, resistance is visible at 24,200.

(View By: Rupak De, Senior Technical Analyst, LKP Securities)

3:39 PM

Nifty Healthcare, Pharma gain 1% each in sectoral trends

3:37 PM

Broder indices end firm on a volatile day

3:36 PM

Private banks among top losers on NSE

3:35 PM

Heatmap check

3:34 PM

Closing Bell: Nifty, too, ends in red after touching lifetime highs

3:32 PM

Closing Bell: Sensex ends 210 points lower after hitting record highs

3:07 PM

Tyre stocks in focus; JK Tyre, Ceat, TVS, Goodyear rally up to 12%

Shares of tyre makers were in focus and rallied by up to 12 per cent on the BSE in Friday’s intra-day trade on improving demand outlook. According to reports, domestic tyre companies have undertaken a price hike of 1-2.5 per cent with effect from July 1, 2024, in response to rise in key raw material prices (primarily natural rubber). READ MORE

2:53 PM

Nazara Tech share zooms 9% on acquisition of Freaks 4U Gaming for Rs 271 cr

Shares of Nazara Technologies climbed as much as 9 per cent to hit an intraday high of Rs 887.05 per share on Friday. The uptick in share price came after Nazara Technologies said NODWIN Gaming will increase its ownership in leading European esports company Freaks 4U Gaming to 100 per cent through a share swap valued at Rs 271 crore (Euro 30.3 million). READ MORE

2:38 PM

HCG acquires majority stake in Vizag Hospital; stock price zooms 5%

Shares of HealthCare Global Enterprise (HCG) soared by 4.58 per cent at Rs 388.30 per share on the BSE in Friday’s intraday deals. This came after HCG said that it has acquired 51 per cent stake in Vizag Hospital with remaining 49 per cent equity to be acquired later in two tranches. The cancer care healthcare chain , however, did not disclose the amount of the acquisition. READ MORE

2:16 PM

Geopolitics remains by far the biggest risk to markets, says Chris Wood

Geopolitics, and, in particular, the growing risk of escalation in the Ukraine conflict, remains by far the biggest risk to the markets, wrote Christopher Wood, global head of equity strategy at Jefferies in his weekly note to investors, GREED & fear. READ MORE

2:00 PM

Nephro Care IPO: Anchor investors, share allotment, issue objective

Nephro Care India IPO (Initial Public Offer) opened for subscription today, Friday, June 28024. The SME-based IPO is available on the NSE SME platform. READ MORE

1:46 PM

This smallcap stock has surged 20% on June 28; up 76% from June 5 low

Shares of Black Box (formerly AGC Networks) surged 20 per cent to Rs 384, hitting a record high on the BSE in Friday’s intra-day trade amid heavy volumes. The market price of smallcap stock has zoomed 76 per cent from its low of Rs 218 touched on June 5, as the management said they are confident in achieving strong performance in the fiscal year 2025 and beyond. READ MORE

1:44 PM

Tech Mahindra set for 'turnaround year', focused on revenue and costs: CEO

Tech Mahindra is set for a “turnaround year” as it makes new investments and “optimises” costs, said Mohit Joshi, the chief executive officer and managing director of the information technology company. READ MORE

Closing Bell on Friday, June 28, 2024: Benchmarks Sensex and Nifty settled lower despite hitting fresh record highs earlier in the day.

BSE Sensex climbed 0.54 per cent or 428 points to hit a fresh record high of 79,671.58 while NSE’s Nifty50 rallied 0.53 per cent or 130 points to hit a new all time high of 24,174 levels.

However, Sensex settled 0.27 per cent or 210.45 points lower at 79,032.73 while NSE’s Nifty50 slipped 0.14 per cent or 33.90 points to 24,010.60 levels.

On the BSE, Reliance Industries, Tata Motors were the top gainers while IndusInd Bank, Bharti Airtel were among the major laggards.

Similarly, on the NSE, ONGC, Dr Reddy’s were the top gainers while ICICI Bank, Axis Bank were among the top losers.

Broader indices outperformed benchmark indices as they settled higher. Nifty Midcap closed 0.56 per cent while SmallCap settled 0.84 per cent higher

Sectorally, the Nifty Private Banks was the top loser, down 1.24 per cent, followed by Bank (down 0.89 per cent). On the other hand, Pharma was the top gainer, up 1.11 per cent.

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Topics :MARKET WRAP Markets S&P BSE Sensex Gift Nifty Indian stock markets MARKETS TODAY Markets Sensex Nifty share market

First Published: Jun 28 2024 | 8:43 AM IST

Stock Market Highlights, June 28: Benchmarks settle lower; Sensex above 79k, Nifty holds 24,000

Stock market highlights on Friday, June 28: BSE Sensex climbed 0.54 per cent or 428 points to hit a fresh record high of 79,671.58 while NSE's Nifty50 rallied 0.53 per cent to a new high of 24,174

Key Events

Comment: Consolidation in the benchmark likely following recent upward movement