Asian Paints
2756.9 -57.00
Cipla
1397.5 -37.00
Eicher Motors
7315 -43.00
Nestle India
1315.9 8.80
Grasim Inds
2809.6 13.80
Hindalco Inds.
934.65 -20.70
Hind. Unilever
2360.4 6.90
ITC
329.2 -5.55
Trent
3899.7 -32.50
Larsen & Toubro
3856.4 -9.40
M & M
3658.2 8.70
Reliance Industr
1457.9 -0.90
Tata Consumer
1189.1 17.70
Tata Motors PVeh
353.6 3.80
Tata Steel
188.21 -1.04
Wipro
267.45 7.25
Apollo Hospitals
7235.5 -37.00
Dr Reddy's Labs
1175.5 -11.00
Titan Company
4196.9 -24.60
SBI
1042.3 13.95
Shriram Finance
995.45 14.35
Bharat Electron
410.25 -7.35
Kotak Mah. Bank
418.2 -2.80
Infosys
1689.8 90.00
Bajaj Finance
950.25 4.30
Adani Enterp.
2157.3 4.00
Sun Pharma.Inds.
1668.9 -31.80
JSW Steel
1187.3 5.50
HDFC Bank
931.1 5.65
TCS
3206.7 14.20
ICICI Bank
1410.8 -7.60
Power Grid Corpn
257.3 -1.05
Maruti Suzuki
15859 -293.00
Axis Bank
1294.2 -4.60
HCL Technologies
1698 29.50
O N G C
247.17 -1.06
NTPC
346.35 -2.75
Coal India
431 -1.20
Bharti Airtel
2016.4 -6.10
Tech Mahindra
1670.5 82.00
Jio Financial
278.8 -8.20
Adani Ports
1421.9 -8.10
HDFC Life Insur.
732.55 -10.65
SBI Life Insuran
2081 12.20
Max Healthcare
1037 3.40
UltraTech Cem.
12378 123.00
Bajaj Auto
9489 -90.50
Bajaj Finserv
2002.5 1.60
Interglobe Aviat
4740 7.00
Eternal
287.7 -11.55
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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