Share Market Today Live Updates June 5, 2024: Election results shocker! PSUs unlikely to re-rate, FMCG, private banks in focus, says PL; lists top stock picks

• BJP faces setbacks in UP, Maharashtra, and West Bengal, impacting reforms. Global election watch includes US FED’s stance. Brokerage expects PSU, Capital Goods, Infra’s re-rating paused until policy clarity.

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• Nifty has delivered 9% and 8% returns in 3 and 6 months, respectively, post general elections since 1991, indicating that in the past a correction or dip has typically ended up as a buying opportunity over the longer term.

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• Indian stock market faces steep decline post NDA’s failure to achieve ‘400 Paar’ milestone in recent elections, triggering panic among investors due to political uncertainty and incorrect exit polls. Here are some advices for retail investors in current market turmoil

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• Stock market today: After a tepid opening on Wednesday, the Indian stock market witnessed strong buying that pulled frontline indices up to 2%

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• Ixigo’s IPO is set to raise ₹740 crore through a price band of ₹88-93 per share. The company aims to utilise the funds for working capital, technology investments, and strategic growth initiatives.

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• Stock market today: The Nifty FMCG Index extended its post-Lok Sabha Election result rally and registered 5% rise in opening bell

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• ICICI Securities issues ‘sell’ call on Mazagon Dock Shipbuilders, setting target price at ₹900, indicating over 66% downside from previous close.

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• Following shares hit their 52 week low today – Bannari Amman Sugars, Iris Clothings, Anupam Rasayan India, EPL, RAJRATAN GLO

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• Following shares hit their 52 week high today – Dabur India, Godrej Consumer Products, Mahindra & Mahindra, Divis Laboratories, Bajaj Auto

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• Gold And Silver Prices Today:Gold And Silver Prices Today : 10 gm of 24 carat gold was at Rs.74200.0 in Delhi whereas 1 kg of silver was Rs.88930.0 in Delhi.

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• The Texas Stock Exchange has raised about $120 million from investors including BlackRock and Citadel Securities, and plans to take on the NYSE and Nasdaq.

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• Angel One’s shares surged by 7% to ₹2,404 in today’s trade after positive investor reaction to May’s business update. The company’s client base increased by 63.3% to 23.83 million, with transactions rising by 75.2% YoY in May 2024.

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• Devina Mehra, the founder and CMD of First Global, wrote on X that average fund managers are not fact or data-driven which impacts their performance.

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• Stocks to buy today: After the Lok Sabha Election result, Sumeet Bagadia has recommended buying these five breakout stocks — Godrej CP, Max India, Pidilite, Sun TV, and McDowell-N

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• Adani Enterprises, Adani Energy Solutions, Adani Ports & SEZ, Adani Green Energy, Adani Power, Adani Total Gas and Adani Wilmar shares fell in between 2% to 14% each.

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• Kronox Lab Sciences IPO GMP today is ₹82, say stock market observers

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• Before Market Opens: Indian markets are likely to open on a negative note on Wednesday extending losses from the massive crash in the previous sessions as the election race was tighter than expected. Let’s take a look at some key cues before the market opens today:

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• Here are a few stocks likely to be in focus on Wednesday, 5 May:

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• Stocks to buy today: Experts have recommended buying these five buy or sell stocks — Heritage Foods, Dabur, Marico, McDowell-N, and Tata Consumer

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• The trends on Gift Nifty also indicate a gap-up start for the Indian benchmark index. The Gift Nifty was trading around 22,060 level, a premium of nearly 150 points from the Nifty futures’ previous close.

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• Indian stock market: Gift Nifty was trading around 22,040 level, a premium of nearly 130 points from the Nifty futures’ previous close, indicating a gap-up start for the Indian stock market indices.

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• Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — Max Healthcare, Apollo Hospitals, and COLPAL

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• Stock markets tend to recover and even thrive in the longer term, despite initial volatility. For instance, even after the 2014 and 2019 elections, the Indian stock market saw significant gains in the months following the election results.

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