Asian Paints
2746.5 -39.00
Cipla
1506 9.70
Eicher Motors
7324 11.50
Nestle India
1272.6 12.90
Grasim Inds
2817.7 -9.20
Hindalco Inds.
872.9 8.45
Hind. Unilever
2285.4 3.20
ITC
404.15 -2.45
Trent
4285.3 -4.30
Larsen & Toubro
4047.3 -6.30
M & M
3623.1 -13.60
Reliance Industr
1559.2 1.00
Tata Consumer
1175.7 -3.50
Tata Motors PVeh
358.8 -0.40
Tata Steel
169.12 -0.95
Wipro
266.3 -1.76
Apollo Hospitals
7156 -16.00
Dr Reddy's Labs
1269.3 3.50
Titan Company
3992 82.70
SBI
966.3 -2.65
Shriram Finance
960.25 -13.45
Bharat Electron
398.45 -1.55
Kotak Mah. Bank
2164.2 0.50
Infosys
1656.1 -7.30
Bajaj Finance
1000 -11.70
Adani Enterp.
2229.9 7.20
Sun Pharma.Inds.
1719.5 -17.50
JSW Steel
1094.4 3.10
HDFC Bank
992.1 -5.10
TCS
3280 -39.00
ICICI Bank
1350.4 -9.40
Power Grid Corpn
265.45 -2.60
Maruti Suzuki
16596 -107.00
Axis Bank
1228.2 1.90
HCL Technologies
1660.9 -13.80
O N G C
234.53 0.76
NTPC
324.1 1.55
Coal India
402.15 -0.20
Bharti Airtel
2105.4 -18.30
Tech Mahindra
1612.3 -19.20
Jio Financial
296.95 -1.95
Adani Ports
1487.1 -7.20
HDFC Life Insur.
748.45 -6.90
SBI Life Insuran
2019.1 -6.30
Max Healthcare
1074.3 -7.10
UltraTech Cem.
11794 30.00
Bajaj Auto
9064.5 -105.50
Bajaj Finserv
2017.6 -18.10
Interglobe Aviat
5074 -7.50
Eternal
281.75 -3.10
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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