Stock Market Highlights: Markets close higher; NIFTY50 up 0.3%, SENSEX gains 200 points

Thank you, readers! That's all from Upstox.com's live market coverage on 13 June 2024. We’ll be back with our live coverage at 8:00 am on Friday.

Benchmark indices closed higher on Thursday, with NIFTY50 gaining 0.3% and SENSEX surging 200 points. Out of the NIFTY50 space, 35 stocks were advancing. Shriram Finance, Mahindra and Mahindra and HDFC Life were among top gainers.

HDFC Life said on Thursday it anticipates a gross impact of approximately 100 basis points (bps) on the company's new business margin (NBM) due to higher surrender value on early exits.

“We are confident in our ability to largely mitigate this impact without compromising the value proposition for our customers. We expect these measures to positively impact the long-term growth prospects for the industry,” the firm said in a statement.

To read more, click here.

Shares of Gensol Engineering rallied 5% to hit the upper circuit limit at ₹1,068.05 apiece on the NSE on Thursday, June 13, after the company informed the stock exchanges on securing a 250 Megawatt project in Gujarat. Read more.

Dr Reddy’s Laboratories Ltd shares gained on Thursday after the company announced that its step down wholly-owned subsidiary in the United States has entered into an agreement to commercialise Cyclophosphamide Injection RTD. Read more.

Shares of KIOCL Limited, formerly Kudremukh Iron Ore Company Limited, rose 11.5% on Thursday after Steel Minister HD Kumaraswamy gave nod to start operations at Devadari iron ore mine.

Shares of real estate developer Sobha Ltd jumped nearly 8% in trade on Thursday, June 13, after the company’s board approved a proposal to raise up to ₹2,000 crore through a rights issue. Read more.

Benchmark indices are trading higher on Thursday, with NIFTY50 gaining 0.3% and SENSEX surging 250 points. Out of the NIFTY50 space, 30 stocks were advancing. HDFC Life, Divis Lab and Shriram Finance were among top gainers.

India's index of industrial production (IIP), which measures the output of key economic sectors such as manufacturing, mining and power, rose by 5% in April 2024 on an annual basis, as per the data shared by the Ministry of Statistics and Programme Implementation on June 12. Read more.

Shares of One 97 Communications, which operates under the Paytm brand name, are trading with gains of more than 5% after it announced a partnership with consumer electronics brand Samsung.

The stock was trading at ₹425.35 apiece, up 5.68%, on the National Stock Exchange (NSE). It gained 5.67% to ₹425.50 on the BSE. Read more.