Adani Enterp.
2445.5 2.80
Adani Ports
1233.2 -9.90
Apollo Hospitals
7088.5 -54.00
Asian Paints
2432 -13.00
Axis Bank
1216.8 -6.20
Bajaj Auto
8141 -106.50
Bajaj Finance
9260.5 -13.00
Bajaj Finserv
2077 -26.50
Bharat Electron
303.35 3.40
Bharti Airtel
1852.2 -31.20
Cipla
1528.2 17.10
Coal India
398.6 -1.90
Dr Reddy's Labs
1175 -2.40
Eicher Motors
5784 -26.50
Eternal Ltd
237.47 3.23
Grasim Inds
2749.4 -7.50
HCL Technologies
1479.9 -2.10
HDFC Bank
1961.7 34.60
HDFC Life Insur.
712.55 0.35
Hero Motocorp
3833.6 -83.40
Hind. Unilever
2398.7 47.70
Hindalco Inds.
620.1 -1.90
ICICI Bank
1416.5 6.70
IndusInd Bank
787.5 -40.70
Infosys
1422.8 -28.20
ITC
433.6 10.75
JSW Steel
1044.2 10.20
Kotak Mah. Bank
2268.8 27.40
Larsen & Toubro
3257.8 -22.70
M & M
2817.1 53.10
Maruti Suzuki
11734 -11.00
Nestle India
2407.3 7.90
NTPC
360.25 -4.30
O N G C
247.78 -2.00
Power Grid Corpn
312.55 -7.45
Reliance Industr
1291.2 -4.30
SBI Life Insuran
1619 -9.50
Shriram Finance
703.5 0.50
St Bk of India
822.4 5.70
Sun Pharma.Inds.
1747.4 2.50
Tata Consumer
1136.7 15.70
Tata Motors
630.85 0.80
Tata Steel
138.16 -1.02
TCS
3314.4 -7.20
Tech Mahindra
1376.5 3.00
Titan Company
3337.4 1.30
Trent
5323 -37.00
UltraTech Cem.
11959 25.00
Wipro
234.15 -4.30
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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