Stock Market Highlights: Nifty rallies on banks and autos, ends above crucial support of 22,200. Key levels to track on Thursday
07:22:27 PM IST, 05 June 2024
Nasdaq jumps nearly 1% at open as rate-cut hopes increase
The Dow Jones Industrial Average rose 63.53 points, or 0.16%, at the open to 38,774.82.
The S&P 500 opened higher by 23.14 points, or 0.44%, at 5,314.48, while the Nasdaq Composite gained 117.43 points, or 0.70%, to 16,974.48 at the opening bell.
07:07:03 PM IST, 05 June 2024
Sebi relaxes timeline for material-change disclosures by FPIs
On Wednesday, markets regulator Sebi eased the timelines for Foreign Portfolio Investors (FPIs) to disclose material changes. Sebi categorized these changes into two groups: Type I and Type II. Type I changes require FPIs to seek fresh registration or affect any privileges or exemptions available to them. Type II includes all other material changes.
07:03:08 PM IST, 05 June 2024
Tech View: Nifty ends above 21EMA. What should traders do on Thursday?
Nifty witnessed a gap up opening and after the initial bout of volatility it stabilized and inched higher to close with gains of 736 points. The index has managed to close above the short-term moving average of 22,514 which is a positive sign. The intraday range of movement has been big and above normal. We expect the range bound action to continue. The range is likely to be 21,300–23,000 from a short term perspective. India VIX cooled off by 30% and closed around 19.03 today and we expect it to cool off further as the uncertainty reduces.
05:39:36 PM IST, 05 June 2024
Sebi mulls raising limit for basic service demat account to Rs 10 lakh
On Wednesday, capital markets regulator Sebi proposed increasing the threshold for basic service demat accounts (BSDA) from Rs 2 lakh to Rs 10 lakh. This move aims to encourage greater participation from retail investors in the securities market.
08:46:28 PM IST, 05 June 2024
NSE registers highest-ever transactions in a single day globaly
NSE recorded 1,971 crore orders today
04:03:32 PM IST, 05 June 2024
Rupee ends higher; RBI intervention, foreign banks’ dollar sales help
The rupee strengthened on Wednesday, rebounding from its previous session’s slump. This recovery was supported by dollar sales from foreign banks and possible intervention from the Reserve Bank of India. The rupee closed at 83.37 against the dollar, marking an improvement of nearly 0.2% from its prior close of 83.53.
03:54:11 PM IST, 05 June 2024
Market View | Rupak De, Senior Technical Analyst, LKP Securities
Nifty has shown a sharp recovery, rebounding to touch its 100-day moving average placed at 21786 and closing above its 21-day EMA. For a bullish or bearish outlook, it’s crucial to monitor key levels. If Nifty sustains above its 21-day EMA or 22500, a buy-on-dip approach is advisable. Currently, 22400 acts as support, while 22800 serves as the initial resistance for the Nifty index.
Indian market exhibited a spirited recovery driven by broad based buying across various sectors, as political stability appears assured. However, attention will remain on the formation of the government and the forthcoming RBI policy meeting. The market does not expect any change in RBI’s policy stance given persistent high food inflation, and an expectation of an increase in government spending, which has led to a notable traction in FMCG stocks
– Vinod Nair, Head of Research, Geojit Financial Services
03:37:30 PM IST, 05 June 2024
Check out the top gainers & losers from today’s trade
03:37:03 PM IST, 05 June 2024
Sensex Heatmap | L&T only loser from the Sensex pack today
03:35:51 PM IST, 05 June 2024
Closing Bell
Sensex shoots up 2,303 points, Nifty tops 22,600 as bulls stage smart rebound; all sectors in green
03:27:14 PM IST, 05 June 2024
Stock Market LIVE Updates | SEBI: Securities for pay-out to be credited directly to client
03:12:40 PM IST, 05 June 2024
Sensex Today | Stock Market LIVE Updates: Nifty Midcap registers biggest single-session gain in terms of absolute points
03:11:01 PM IST, 05 June 2024
Sensex Today | Stock Market LIVE Updates: Sea of green… all Sensex stocks rise
As BSE Sensex traded over 2300 points higher, all stocks from the pack were trading in the green, with IndusInd Bank and Tata Steel leading the charge.
02:59:53 PM IST, 05 June 2024
Sensex Today | Stock Market LIVE Updates: Nifty recovers 50% of June 4 decline
02:57:46 PM IST, 05 June 2024
Stock Market LIVE Updates: Nifty Bank index rallies nearly 5%, sees biggest gain since Feb 2021
- All sectoral constituents in the green
- IndusInd Bank top gainer from the pack
02:52:12 PM IST, 05 June 2024
Sensex Today | Stock Market LIVE Updates: Sensex zooms 2,400 points
02:42:36 PM IST, 05 June 2024
Oil near four-month low on OPEC+ supply outlook and US stocks
On Wednesday, oil prices lingered near four-month lows amid expectations of a supply increase later this year as OPEC+ plans to ease some output cuts. Markets were also processing U.S. jobs data and rising oil inventories. By 0825 GMT, Brent crude futures had risen 26 cents, or 0.3%, to $77.78 a barrel, while U.S. West Texas Intermediate crude futures increased by 24 cents, or 0.3%, to $73.49.
02:33:14 PM IST, 05 June 2024
Jefferies’ Chris Wood on India story
Large retail flows drove D-Street recently. India remains a preferred overweight among EMs.
02:28:55 PM IST, 05 June 2024
Ray Dalio flags US-China ‘Economic Warfare’ among top global risks
Ray Dalio highlighted that internal conflicts, especially regarding the acceptance of the US election results by both parties, will be the “highlight of this year.” Speaking at the Greenwich Economic Forum in Hong Kong on Wednesday, Dalio noted that the policies of a Donald Trump administration would markedly differ from those of a Democratic administration. However, he pointed out that both parties largely agree on anti-China policies.
02:24:51 PM IST, 05 June 2024
Elliott rebuilds stake in SoftBank and pushes for $15 billion buyback: Report
Shares of SoftBank Group surged to a three-year high on Wednesday following a report by the Financial Times that activist investor Elliott Management has rebuilt a stake in the company valued at over $2 billion. Elliott Management is advocating for a $15 billion share buyback and has been in direct discussions with SoftBank’s senior management over the past two to three months, according to sources familiar with the situation.
02:09:38 PM IST, 05 June 2024
Sensex Today | Stock Market LIVE Updates: Nifty tops 22,500 level
02:08:42 PM IST, 05 June 2024
Sensex Today | Stock Market LIVE Updates: Top stock gainers at this hour
02:06:02 PM IST, 05 June 2024
Sensex Today | Stock Market LIVE Updates: As Sensex rallies 2,000 points, these are the top stock contributors
02:04:09 PM IST, 05 June 2024
Sensex Today | Stock Market LIVE Updates: Sensex surges 1950 points, reclaims 74K
01:57:52 PM IST, 05 June 2024
Sensex Today | Stock Market LIVE Updates: B&K Securities has maintained its ‘Buy’ rating with Target Price of Rs. 770 (CMP- Rs. 622) for Suven Pharmaceuticals as it expect revenue of the company to double at combined sales (Suven + Cohance) over the next four-five years. The company remains top mid-cap pick in brokerage firm’s universe.
01:50:06 PM IST, 05 June 2024
Sensex Today | Stock Market LIVE Updates: Nifty Metal index surges 4%
- NALCO, SAIL, Hindustan Copper among top gainers from metals pack at this hour
The market is still trying to find a base. For me, the number that would be important or something that would get me a little worried is when the market goes below 21,000. Why I say 21,000 is because if you look from Jan to now, the market has been having a bit of a time-wise correction. So, for me, if the market goes below that, yes, it would be worrisome.
– Atul Suri, Marathon Trends – PMS
01:32:46 PM IST, 05 June 2024
Sensex Today | Stock Market LIVE Updates | KEC International gets new orders worth over Rs 1,000 crore
01:21:11 PM IST, 05 June 2024
India bonds still a ‘buy’ for foreign investors despite post-election policy uncertainty
Despite a narrower-than-expected victory margin for Prime Minister Narendra Modi’s alliance, fund managers predict that India’s government bonds will continue to attract foreign inflows. Foreign investors have been actively investing in bonds throughout this year, and they maintained their buying momentum on Tuesday, even amidst the unexpected election outcome which impacted stocks, bonds, and the rupee. Concerns have arisen regarding populist spending and potential stalling of reforms following the election results.
01:16:15 PM IST, 05 June 2024
Sensex Today | Stock Market LIVE Updates | Lupin arm completes acquisition of two brands from Sanofi
01:01:44 PM IST, 05 June 2024
Sensex Today | Stock Market LIVE Updates | Vodafone Idea shares experienced a significant surge of 12% intraday, reaching a high of 14.85 on the NSE on Wednesday.
12:41:42 PM IST, 05 June 2024
Stock Market LIVE Updates | Kronox Lab Sciences IPO booked nearly 43x on last day.
The categories designated for retail and Qualified Institutional Buyers (QIB) investors were oversubscribed by over 34 times and 4 times, respectively. The IPO reserved 50% for qualified institutional buyers, 15% for non-institutional investors, and the remaining 35% for retail investors.
12:39:56 PM IST, 05 June 2024
Sensex Today | Stock Market LIVE Updates | Railway stocks trade in red
12:30:35 PM IST, 05 June 2024
Australian shares end higher; GDP data quells rate hike fears
The S&P/ASX 200 benchmark index concluded 0.4% higher at 7,769.0 points. This followed a 0.3% decline in the benchmark on Tuesday.
12:15:58 PM IST, 05 June 2024
Sensex Today | Stock Market LIVE Updates | Top gainers & losers at this hour
12:01:12 PM IST, 05 June 2024
Sensex Today | Stock Market LIVE Updates | Raamdeo Agrawal’s advice to SIP investors amid market correction
“The message to the SIP investors is very clear that they must make double that every single instalment of the monthly SIP is credited to the MFs,” says Raamdeo Agrawal, Motilal Oswal Group.
12:13:16 PM IST, 05 June 2024
Election View | Prashanth Tapse, Senior VP (Research), Mehta Equities
Markets are expected to remain volatile in the short term, even as the NDA-led BJP is set to form the government for the third time, making history. Given the known factors, it’s advisable to allow some time for the markets to stabilize following the unexpected election outcome. Traders and investors should be cautious and consider focusing on defensive and non-government-driven sectors such as FMCG, Telecom, and Pharma stocks. The upcoming budget and quarterly earnings reports will be crucial events that could influence market movements. FIIs are likely to reconsider their positions, and DII money will be tested in the short term, which is a cause for concern. Technically, the upside appears limited in the short term, while the downside may develop in phases. The key level to watch is the psychological 21,000 mark; if the market closes below this level, further selling could drive it down to test 20,200.
11:57:57 AM IST, 05 June 2024
Stock Market LIVE Updates | Smart rebound! Adani Group stocks rise up to 6%
11:39:49 AM IST, 05 June 2024
NDA is back with a caveat; how will Modi-favoured PSU stocks fare now?
The recent India elections have resulted in a negative surprise, with the NDA securing a narrower majority. This outcome has unsettled investors on the D-Street (Dalal Street, a term for the Indian stock market). Over the past decade, public sector undertakings (PSUs) emerged as significant beneficiaries of government policies, evident in the multibagger surge in the prices of certain PSU stocks.
11:37:14 AM IST, 05 June 2024
Stock Market LIVE Updates | Nifty Auto index hits 52-week high, jumps over 4%
11:37:41 AM IST, 05 June 2024
Stock Market LIVE Updates | Sea of Green
- All sectors rally as Nifty tops 22,400
- Auto and FMCG indexes hit 52-week high
11:28:02 AM IST, 05 June 2024
Sensex Today | Stock Market LIVE Updates | SENSEX SOARS 1,600 PTS; NIFTY ABOVE 22,400
11:15:46 AM IST, 05 June 2024
Sensex Today | Stock Market LIVE Updates | SENSEX SOARS 1,400; NIFTY ABOVE 22,300
11:09:11 AM IST, 05 June 2024
Sensex Today | Stock Market LIVE Updates | FMCG Stocks In Focus
11:02:24 AM IST, 05 June 2024
Sensex Today | Stock Market LIVE Updates | SENSEX HEATMAP: Check out how top stocks are performing
11:00:12 AM IST, 05 June 2024
Sensex Today | Stock Market LIVE Updates: Sensex surges 1,000 pts
HUL, Nestle, Asian Paints, M&M top gainers from 30-share Sensex pack
10:54:01 AM IST, 05 June 2024
CLSA tweaks India portfolio, fears de-rating in expensive capex stocks
“Recognising these uncertainties, we take out L&T from our India focus portfolio and replace it with HCL Tech. L&T has been in our portfolio since its inception in January 2021 and outperformed by a huge 106.2ppt. ITC remains our preferred staples name,” CLSA said.
10:48:55 AM IST, 05 June 2024
Stock Market LIVE Updates | HUL, ITC drive Sensex 600 pts higher
10:39:29 AM IST, 05 June 2024
Sensex Today | Stock Market LIVE Updates | Sectoral Snapshot
- FMCG sector surge up to 6%
- IT, pharma and auto indices jump up to 2.5%
- PSU Bank and realty drop over 3%
10:33:17 AM IST, 05 June 2024
Market Expert View: MOSL on how markets can move going ahead, top picks from largecap & midcap space
With elections now behind, fundamentally, India remains in a very good shape with almost a mini-Goldilocks moment with excellent macros (GDP growth of 8.2% in FY24 on the back of ~7% growth in FY23, inflation at ~5%, both current account and fiscal deficits well within tolerance band, stable currency, etc.), solid corporate earnings (Nifty ended FY24 with 25% earnings growth and FY25/26 earnings are likely to post 14-15% CAGR) and valuations at ~20x one-year forward earnings. After the initial disappointment and anxiety around government formation, we expect the focus to revert to fundamental bottom-up stock picking. That said, sectors with over-heated valuations and recent sharp outperformance viz. Industrials, Railways, Defense, and PSUs may see more moderation in valuations before they become attractive again from the risk-reward perspective.
Largecaps: ICICI Bank, ITC, HCL Tech, Coal India, SBI, L&T, M&M, Ultratech, CIFC and Hindalco;
Midcaps: Indian Hotels, Ashok Leyland, Godrej Properties, Global Health, KEI Industries, PNB Housing, Cello World, and Kirloskar Oil.
10:32:33 AM IST, 05 June 2024
Stock Market LIVE Updates | 10 years of Modi: 597 smallcaps zoom up to 48,000%; will the counters repeat show?
Small and midcap stocks have experienced a remarkable surge over the past decade under the Narendra Modi government, with more than 670 stocks listed on the BSE achieving multibagger status. Nevertheless, experts caution that this upward trend may not be consistent during Modi’s third term. They anticipate sector-specific movements and warn of potential volatility ahead, according to ETMarkets.
10:17:38 AM IST, 05 June 2024
Indian bond yields little changed, market jittery after election verdict
As of 10:00 a.m. IST, India’s benchmark 10-year yield stood at 7.0467%, compared to its previous close of 7.0382%. The yield experienced its most significant single-session increase since October 6 on Tuesday.
10:16:27 AM IST, 05 June 2024
Sensex Today | Stock Market LIVE Updates | Fear gaunge India VIX decline up to 25%
10:00:52 AM IST, 05 June 2024
Sensex Today | Stock Market LIVE Updates | PSU stocks trade with cuts
09:50:34 AM IST, 05 June 2024
Oil near 4-mth low after OPEC+ supply plan, US stock build
In Asia on Wednesday, oil prices remained close to four-month lows as investors processed an OPEC+ resolution to increase supply later this year and reacted to a rise in U.S. crude and fuel inventories. Brent crude futures saw a slight increase of 4 cents, reaching $77.56 a barrel by 0307 GMT, while U.S. West Texas Intermediate crude futures remained unchanged at $73.25 a barrel.
09:49:41 AM IST, 05 June 2024
Sensex Today | Stock Market View: Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
One positive of the sharp market correction is that the excessive valuations have moderated a bit and this will facilitate institutional buying once clarity emerges on the formation and composition of the cabinet.
Investors can start nibbling at high quality largecaps in IT, financials, autos and capital goods.
09:35:14 AM IST, 05 June 2024
Sensex Today | Stock Market LIVE Updates | Sensex, Nifty volatile
After opening in green and then erasing all its gains in the early trade, the Indian stock market indices are now rising.
09:30:22 AM IST, 05 June 2024
Sensex Today | Stock Market LIVE Updates | Most of the Adani stocks plunge
09:27:37 AM IST, 05 June 2024
Sensex Today | Stock Market LIVE Updates | Sensex eraese early gains, trades in red
L&T & SBI among top drags
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