Half of Nifty stocks hit new highs in June

The National Stock Exchange (NSE) benchmark Nifty rallied this week, hitting its ninth record high in June and 23rd highest in calendar year 2024.

The blue-chip company index closed at 24,010 in the last trading session of the week. Five stocks Reliance Industries, ICICI Bank, Axis Bank, Bharti Airtel and Grasim Industries closed at all-time highs and 17 other stocks made new highs this month. Following the market rally, 34 of the 50 Nifty components hit new highs in 2024. While the 50-share index rose 9.8 per cent year-to-date. The best-performing stocks this year included Mahindra & Mahindra (up 65 per cent year-to-date), Shriram Finance (up 45 per cent year-to-date) and Adani Ports & SEZ (up 43 per cent year-to-date). On the other hand, the worst-performing stocks included LTI Mindtree, Asian Paints and HDFC Life Insurance. Which declined 18 per cent, 16 per cent and nine per cent, respectively.