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Monday, July 15, 2024

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Despite facing initial challenges, stock markets closed positively

Photo credit: ANI

On June 24, 2024, the Sensex concluded the trading day with a gain of 131 points, closing at 77,341, while the Nifty edged up by 36 points to reach 23,537. The market’s positive movement was driven by a rally in consumer durable and FMCG shares. The Nifty Bank also saw an increase of 42 points, closing at 51,703, and the Nifty Midcap surged by 147 points to settle at 55,577 on Monday.

One notable stock performance was from Route Mobile Ltd., which saw its shares surge by 14.44% during afternoon trading to 1750.05 per share. This spike followed a press release announcing Route Mobile Limited’s successful implementation of WhatsApp-based ticketing services for metros in Nagpur, Pune, Hyderabad, and Delhi, making it the largest facilitator of such services in India.

Sector-wise, FMCG, auto, and power sector stocks all saw gains ranging between 0.5% to 1% throughout the day’s trading session.

However, the early trading session witnessed a decline in Gift Nifty by at least 100 points, indicating some initial market weakness.

Meanwhile, in broader global markets, Asian indices experienced further declines with Korea’s Kospi and Australia’s ASX index both dipping nearly 1%. This followed a mixed performance on Wall Street the previous Friday, reflecting global market uncertainties and varied investor sentiments.

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