Asian Paints
2759.7 -26.00
Cipla
1498.9 2.00
Eicher Motors
7106.5 -28.00
Nestle India
1233.5 -1.10
Grasim Inds
2807.6 1.00
Hindalco Inds.
856.7 7.90
Hind. Unilever
2265.5 -10.10
ITC
400.4 0.60
Trent
4030 -15.20
Larsen & Toubro
4031.1 -31.30
M & M
3586.6 -26.20
Reliance Industr
1544.4 0.00
Tata Consumer
1171.5 -8.30
Tata Motors PVeh
345.8 -0.55
Tata Steel
168.12 -2.22
Wipro
263.85 2.71
Apollo Hospitals
6918.5 -3.00
Dr Reddy's Labs
1280 8.00
Titan Company
3919.3 11.40
SBI
977.55 1.70
Shriram Finance
869.45 5.25
Bharat Electron
383.45 -2.15
Kotak Mah. Bank
2164.6 -8.60
Infosys
1626.8 24.80
Bajaj Finance
1000.3 0.70
Adani Enterp.
2229.3 -3.20
Sun Pharma.Inds.
1745.9 -47.00
JSW Steel
1082.2 2.90
HDFC Bank
979.7 -4.30
TCS
3280.8 63.00
ICICI Bank
1356.8 4.40
Power Grid Corpn
257.95 -3.15
Maruti Suzuki
16329 -69.00
Axis Bank
1229.8 5.10
HCL Technologies
1661.4 6.40
O N G C
232 -0.91
NTPC
318.5 -2.75
Coal India
385.3 0.55
Bharti Airtel
2092 -16.00
Tech Mahindra
1605.6 26.20
Jio Financial
292.3 -0.85
Adani Ports
1495.7 9.40
HDFC Life Insur.
757 3.50
SBI Life Insuran
2014.4 4.20
Max Healthcare
1048.5 17.40
UltraTech Cem.
11461 -79.00
Bajaj Auto
8831 -64.00
Bajaj Finserv
2026.3 5.10
Interglobe Aviat
5115.5 135.00
Eternal
284.75 0.30
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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