Nifty, Sensex Under Pressure - Monday Closing Report
Moneylife Digital Team 10 June 2024
On Monday, 2626 stocks advanced, 1365 declined and 138 remained unchanged, with an advance decline ratio of 1.92 on the Bombay Stock Exchange (BSE), indicating positive closing of stocks in broader markets. The trend of the major indices on Monday’s trading is given in the table below. 
 
 
On NSE, 178 securities advanced and closed at a new 52-week high whereas 16 securities sank to close at their new 52-week lows.  In sectoral indices, Nifty Media, Nifty Pharma and Nifty PSU Bank among the biggest gainers. Nifty IT and Nifty Metal the biggest losers. Market failed to hold record high hit intra-day, closes in the red, Sensex hit intra-day record high of 77,079.04 & Nifty 23,411.90.
 
Wardwizard Innovations & Mobility bagged an order worth $1.3 billion (approx. Rs10,771 crore) from Phillipines-based Beulah International Development Corp. The order is to supply electric two-wheelers and three-wheelers in the commercial and passenger vehicles segment and develop four-wheelers for commercial vehicles for the Philippines market.
 
RailTel corporation of India (+1.56%) bagged Rs81.4 crore order from National Informatics Centre Services (NICSI) to supply, install, configure, commission, integrate, operate, and maintain ICT (information & communication technologies) infrastructure in compliance with the service level agreement.
 
Artson Engineering(+4.86%) bagged a Rs126 crore order from Guwahati International Airport for the engineering and construction of an ATF fuel farm and Hydrant system at Guwahati airport.
 
KEC International (+5.29%) received orders worth Rs1,061 crore across its transmission & distribution, railways, and cables businesses. The transmission & distribution (T&D) business secures orders for projects in India, East Asia Pacific, and America.
 
The US FDA issued Form 483 to Jubilant Pharmova (-1.67%) with three observations after inspecting its US subsidiary, Jubilant HollisterStier LLC's, contract manufacturing facility in Washington.
 
Adani Green Energy (+0.38%) planned  to invest over $1 billion (approx. Rs8,351 crore) in Sri Lanka, making it the country's largest renewable energy project and foreign direct investment to date. The company will set up two wind farms in Sri Lanka's Mannar town and Pooneryn village.
 
According to the Consumer Electronics and Appliances Manufacturers Association (CEAMA), cooling appliance sales rose by 25% YoY in the March to May period, driven by air conditioner and cooler sales. The association projects AC sales of around 1.4 crore in 2024. It states that AC segment sales grew by 25-30% YoY, while refrigerator sales increased by 20% YoY.
 
Havells India (-0.29%) partnered with UAE-based Jumbo Group to expand its market presence in the United Arab Emirates. The partnership will enable Havells to launch its premier kitchen appliances, starting with online availability on Jumbo’s e-commerce website, followed by retail store distribution. GAIL (India) (-2.13%) has planned to set up a 1,500 KTA ethane cracker project in Madhya Pradesh with an estimated capex of Rs60,000 crore.
 
The top gainers and top losers of the major indices are given in the table below:
 
 
 
The closing values of the major Asian indices are given in the table below:
 
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