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

Pre-Session - Detailed News Back
Shares may start higher
10-Jun-24   08:32 Hrs IST

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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DJIA 48728.27
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S&P 500 6949.98
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HANG SENG 25818.94
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NIKKEI 225 50641.54
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FTSE 100 9870.68
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