Asian Paints
2825.5 39.00
Cipla
1465.7 5.10
Eicher Motors
7507 -44.00
Nestle India
1299.1 -7.80
Grasim Inds
2776.9 -15.10
Hindalco Inds.
900.95 -3.00
Hind. Unilever
2372.6 -14.10
ITC
337.15 -3.75
Trent
3972.9 -17.50
Larsen & Toubro
4025.2 -3.20
M & M
3677.3 -46.70
Reliance Industr
1475.3 4.70
Tata Consumer
1175.9 -21.50
Tata Motors PVeh
354.15 -5.30
Tata Steel
178.4 -1.72
Wipro
261.95 -0.25
Apollo Hospitals
7256.5 -108.00
Dr Reddy's Labs
1210.1 3.20
Titan Company
4201.8 -47.20
SBI
1000.5 2.50
Shriram Finance
975.4 -17.50
Bharat Electron
418.65 3.00
Kotak Mah. Bank
2126.8 -6.20
Infosys
1614.1 0.80
Bajaj Finance
959.6 -12.35
Adani Enterp.
2153.7 -60.30
Sun Pharma.Inds.
1729.9 -30.80
JSW Steel
1158.8 2.90
HDFC Bank
939 -7.70
TCS
3207.8 3.90
ICICI Bank
1404.3 -30.70
Power Grid Corpn
258 -1.30
Maruti Suzuki
16501 -163.00
Axis Bank
1272 -14.80
HCL Technologies
1661.4 14.70
O N G C
234.09 2.67
NTPC
336 -8.40
Coal India
418.35 -6.90
Bharti Airtel
2027.1 -39.20
Tech Mahindra
1582.2 4.30
Jio Financial
287.25 -6.30
Adani Ports
1435.9 -29.30
HDFC Life Insur.
749.9 -8.25
SBI Life Insuran
2070 -12.90
Max Healthcare
1017.2 -12.60
UltraTech Cem.
11937 -127.00
Bajaj Auto
9562.5 -198.00
Bajaj Finserv
1992.4 -16.50
Interglobe Aviat
4844 -62.50
Eternal
284.35 0.80
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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