Asian Paints
2395.1 1.50
Cipla
1347.1 5.00
Eicher Motors
7742.5 446.50
Nestle India
1297.1 -11.50
Grasim Inds
2921.9 -32.00
Hindalco Inds.
962 -6.90
Hind. Unilever
2458.5 4.90
ITC
317.1 -4.30
Trent
4182.4 -2.00
Larsen & Toubro
4166 -3.00
M & M
3685 9.20
Reliance Industr
1462.8 4.30
Tata Consumer
1150.9 -1.30
Tata Motors PVeh
385.1 5.75
Tata Steel
207.28 -0.73
Wipro
229.85 -1.62
Apollo Hospitals
7545.5 326.50
Dr Reddy's Labs
1266.6 10.60
Titan Company
4242.5 -26.60
SBI
1175.6 31.50
Shriram Finance
1047.2 -1.40
Bharat Electron
435.2 -2.10
Kotak Mah. Bank
428.7 -0.60
Infosys
1481 -16.80
Bajaj Finance
964.9 -0.70
Adani Enterp.
2224 -4.40
Sun Pharma.Inds.
1710.9 3.10
JSW Steel
1247.2 3.10
HDFC Bank
925.75 -6.65
TCS
2926.9 -57.70
ICICI Bank
1404.6 -1.90
Power Grid Corpn
293 -1.35
Maruti Suzuki
15370 224.00
Axis Bank
1347.9 -8.80
HCL Technologies
1551.9 -21.20
O N G C
268.15 -4.00
NTPC
366.6 -0.30
Coal India
420.4 -10.55
Bharti Airtel
2012.8 1.50
Tech Mahindra
1637.2 -7.40
Jio Financial
269.95 -0.25
Adani Ports
1547.8 -6.90
HDFC Life Insur.
701.45 -2.50
SBI Life Insuran
2021.3 3.00
Max Healthcare
1051.9 30.40
UltraTech Cem.
12925 -98.00
Bajaj Auto
9867.5 93.50
Bajaj Finserv
2025.6 -2.30
Interglobe Aviat
5017.2 56.80
Eternal
303.35 -0.45
GIFT Nifty:
Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 52.50 points at the opening bell.
The market will react to the formation of the new government as Narendra Modi and his 71 ministers took oath of office and secrecy on Sunday (9th June).
Foreign portfolio investors (FPIs) bought shares worth Rs 4,391.02 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,289.75 crore in the Indian equity market on 7 June 2024, provisional data showed.
FPIs have sold shares worth over Rs 13718.42 crore in June 2024 (so far). They offloaded shares worth 42214.28 crore in May 2024.
Global Markets:
Most Asian were trading lower on Monday. This shift comes after Friday's U.S. jobs report, which surprised analysts. The report indicated a stronger-than-expected labor market, with significant job creation and accelerating wage growth. This data has led investors to scale back their expectations of Federal Reserve interest rate cuts happening later in 2024.
The robust U.S. jobs data, released by the Bureau of Labor Statistics (BLS) on Friday, showed the creation of 272,000 new jobs in May. This surpassed analyst forecasts and came after a revised figure of 165,000 jobs added in April. Additionally, average hourly earnings rose 0.4% in May, following a 0.2% increase in April. Year-on-year wage growth climbed to 4.1% in May, compared to the upwardly revised 4.0% reported in April. Generally, wage growth within a 3.0% to 3.5% range aligns with the Fed's 2% inflation target. The average workweek remained steady at 34.3 hours.
Japan's revised GDP data for the first quarter (ending March 31, 2024) revealed a contraction of 1.8% year-on-year. This is an improvement from the initial estimate of a 2.0% decline. However, it still signifies a significant slowdown compared to the 0.4% growth observed in the previous quarter. On a quarterly basis, Japan's GDP fell 0.5%, matching the initial estimate.
Meanwhile, a recent snap election call in France has injected broader political concerns into the market, causing the euro to weaken.
U.S. markets closed strong on Friday. The S&P 500 reached a new intraday record high. The Dow Jones Industrial Average gained 0.29%, and the Nasdaq Composite rose 2.38%. Notably, Nvidia's stock price jumped 10% last week, driven by continued investor enthusiasm for the artificial intelligence leader. This surge pushed Nvidia's market capitalization past the $3 trillion mark.
Domestic Markets:
The domestic equity markets surged on Friday, with the Nifty 50 closing just below 23,300. The RBI's upgrade of India's GDP growth forecast to 7.2% for FY25, combined with the assurance of a stable Modi-led coalition government, ignited a rally across sectors. Even the previously underperforming IT stocks caught fire, spurred on by their appealing valuations. The barometer index, the S&P BSE Sensex was surged 1,618.85 points or 2.16% to 76,693.36. The Nifty 50 index jumped 468.75 points or 2.05% to 23,290.15.
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