Asian Paints
2489.9 -3.70
Cipla
1569.2 9.60
Eicher Motors
6886 -4.50
Nestle India
1205.6 1.30
Grasim Inds
2857.9 -7.50
Hero Motocorp
5350 0.00
Hindalco Inds.
744.75 -5.35
Hind. Unilever
2591 21.30
ITC
411.25 1.95
Trent
5151 -46.50
Larsen & Toubro
3684 -1.50
M & M
3607 -26.20
Reliance Industr
1414 0.20
Tata Consumer
1131.4 -4.90
Tata Motors
713.5 -5.65
Tata Steel
171.13 -0.23
Wipro
256.69 2.54
Apollo Hospitals
7843.5 -44.50
Dr Reddy's Labs
1313.9 2.50
Titan Company
3523.5 0.50
SBI
854.9 -2.25
Shriram Finance
628.25 5.00
Bharat Electron
409.35 -2.85
Kotak Mah. Bank
2058.2 7.90
Infosys
1545.8 23.40
Bajaj Finance
998.6 -8.90
Adani Enterp.
2402.9 0.90
Sun Pharma.Inds.
1640.7 20.50
JSW Steel
1117 6.00
HDFC Bank
974 7.50
TCS
3175 2.20
ICICI Bank
1423.7 4.50
Power Grid Corpn
286.6 -0.55
Maruti Suzuki
15819 18.00
IndusInd Bank
735.75 -3.30
Axis Bank
1129.9 3.90
HCL Technologies
1489.9 8.40
O N G C
234.85 -2.03
NTPC
335.25 -1.15
Coal India
395.35 -4.40
Bharti Airtel
1937.4 -3.90
Tech Mahindra
1549.1 1.90
Adani Ports
1406.9 0.80
HDFC Life Insur.
787.45 19.40
SBI Life Insuran
1824.2 20.20
UltraTech Cem.
12685 -36.00
Bajaj Auto
9041.5 -42.50
Bajaj Finserv
2064 7.00
Eternal Ltd
333.55 5.30
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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