Stock Market Highlights: Markets close higher; NIFTY50 up 0.2%, SENSEX gains 150 points

Thank you, readers! That's all from Upstox.com's live market coverage on 12 June 2024. We’ll be back with our live coverage at 8:00 am on Thursday.

Benchmark indices closed higher on Wednesday, with NIFTY50 gaining 0.2% and SENSEX surging 150 points. Out of the NIFTY50 space, 32 stocks were advancing. Coal India, PowerGrid and Eicher Motors were among top gainers.

Shares of Heritage Foods Ltd, promoted by Telugu Desam Party (TDP) leader and Andhra Pradesh chief minister Chandrababu Naidu, hit the 5% lower circuit for a second consecutive session on Wednesday, June 12, after a block deal.

Hindustan Construction Company Ltd (HCC) shares continued their upward streak for the sixth day in a row on Wednesday, June 12, as the stock rallied nearly 9% to hit a fresh 52-week high. Read more.

Leading real estate developer, Brigade Group announced the launch of Brigade Icon Residences, part of an exquisite high-end mixed-use development located in the heart of Chennai’s historic Mount Road. The company has planned an investment of over ₹8,000 crore by 2030 in Chennai to expand its business in the city, with a strong pipeline of projects across the spectrum of residential, office, retail and hospitality for over 15 mn. sqft. The Gross Development Value (GDV) of the Residential Projects alone is estimated to be over ₹13,000 crore.

Tata Communications today announced a five-year global host broadcasting services deal covering the World Athletics Series of events. From 2025, Tata Communications will be a key strategic supplier for World Athletics, with a view to elevating innovation and audience engagement to new heights.

Benchmark indices are trading higher on Wednesday, with NIFTY50 gaining 0.6% and SENSEX surging 400 points. Out of the NIFTY50 space, 41 stocks were advancing. Coal India, PowerGrid and Eicher Motors were among top gainers.

Muthoot Microfin Limited, a leading Indian microfinance institution has announced a significant update to its recent External Commercial Borrowing (ECB) initiative. The greenshoe portion of the ECB was oversubscribed from USD 25 million to USD 38 million and was participated by Union Bank of India (DIFC Branch), Bank of Bahrain and Kuwait B.S.C., Bank of India (DIFC Branch, Dubai), Mega International Commercial Bank Co. Ltd. (Labuan Branch).

Magenta Lifecare IPO: Mattress manufacturer Magenta Lifecare Ltd made an impactful trading debut on Wednesday, June 12, with its stock listing at a nearly 29% premium on the BSE SME platform. Read more.

Shares of TVS Supply Chain Solutions gained more than 5% as the company announced a new 5-year strategic contract with Daimler Truck's unit, Daimler Truck South East Asia Pte Ltd.