Stock Market Daily Updates - Share Market Closing Bell

Stock Market Daily Updates 7th June 2024 Closing Bell

Modi 3.0 effect: The Sensex has rebounded by 3,000 points in two sessions, regaining ₹21 lakh crore for investors. This is being attributed to the “Modi 3.0 effect.”

Fitch Ratings predicts India’s medium-term growth performance to be 6.2% through FY28, despite NDA’s slimmer majority.

Rahul Gandhi Demands JPC: Rahul Gandhi has demanded a Joint Parliamentary Committee (JPC) to investigate the stock market crash on June 4, accusing the government of a “stock market scam”.

Stock Market Updates (June 7, 2024): Share Market Closing Bell

Here are some of the top News which effects Indian Stock Market:

ZEEL Board Approves Fundraising: Zee Entertainment Enterprises Limited (ZEEL) board has approved raising up to ₹2,000 crore. The stock is up 7%.

Indoco Remedies Receives Approval: Indoco Remedies received tentative approval from the US FDA for diabetes drugs, causing its shares to gain.
Adani Ports Shares Slip: Adani Ports shares have slipped 16% from their all-time high.
Multibagger Infra Stock Rises: A multibagger infrastructure stock has risen 5% on revision in credit rating.
Air India-Vistara Merger Approved: The National Company Law Tribunal (NCLT) has approved the merger of Air India and Vistara. Vistara will be dissolved within 9 months.
Maharashtra Political Churn: 10-15 NCP MLAs are reportedly in touch with Sharad Pawar. Chief Minister Shinde is seeking a cabinet expansion.
Aviation Hubs: Airline players emphasize the need to act fast to make aviation hubs in India.

Share Market Today’s Updates:

Sensex and Nifty: The Sensex and Nifty ended the day with slight gains, recovering from the previous days’ losses.
Advances and Declines: There were more advances than declines in the broader market, indicating positive sentiment.

Share Market Today:

Top Gainers:

HCL Technologies: Rose by 4.01%
Tech Mahindra: Rose by 4.00%
SBI Life: Rose by 3.80%

Top Losers:

Hindalco Industries: Fell by 2.55%
Hero Motocorp: Fell by 2.20%
Hindustan Unilever: Fell by 2.04%

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Stock Market Daily Updates 6^th June 2024 Closing Bell

India is currently dominated by the formation of the new government after the recent elections. Speculation is rife about the allocation of Cabinet berths, with talks ongoing between top leaders. The stock market has reacted positively to the election results, with the Nifty nearing 22,700 and the Sensex above 74,600.

Here are some of the top Business News which effects Indian Stock Market:

New Government Formation: Discussions are underway regarding the allocation of Cabinet positions in the new government.
Stock Market Performance: The stock market has responded favorably to the election outcome, with both the Nifty and Sensex showing gains.
Priority Sector Lending: Data from the Reserve Bank of India (RBI) indicates an 18% year-on-year increase in priority bank credit to micro, small, and medium enterprises (MSMEs) in April.
Company Stocks: Certain stocks, such as Heritage Foods, Amara Raja, and KCP, have experienced gains following Chandrababu Naidu’s decision to extend support to the National Democratic Alliance (NDA).
PSU Bank Index: The Nifty PSU Bank Index has seen a 4% rise, driven by stocks like IOB, CBI, Union Bank, and Bank of Maharashtra.
Renewable Energy Investment: Moody’s estimates that India will need to invest $385 billion to achieve its renewable energy target of 500 GW by 2030.

Stock Market Updates (June 6, 2024): Share Market Closing Bell

Indian Stock Market Today’s Overview:

Indian benchmark indices were trading in the green on Thursday, following positive global cues. At 1 pm, Sensex was up 381.04 points (0.51%) at 74,763.28, and Nifty was up 123.20 points (0.54%) at 22,743.55.

Share Market Key Highlights:

PSU Bank Index Surges: The Nifty PSU Bank Index jumped over 4% for the second consecutive day, driven by the confirmation of the BJP-led NDA government. Stocks like IOB, CBI, and Union Bank were the top gainers.
IEX Shares Up: Indian Energy Exchange (IEX) shares rose more than 5% after the company reported a 29% year-over-year increase in total monthly volumes traded in May 2024.
NBCC Shares Climb: NBCC (India) stock surged 8.4% after the company secured new orders worth ₹491 crore.
TDP-Linked Stocks Soar: Stocks linked to the Telugu Desam Party (TDP) rallied significantly after the party extended support to the NDA government. Amara Raja shares have surged 33% in three days.
U-Turn in Sentiment: PSU defense, rail, and bank stocks have seen a surge of up to 13% as investor sentiment improved with the political stability following the NDA’s election win.

Additional News:

Healthcare sector is expected to be a dark horse in FY25.
Radhakishan Damani-linked entity buys 43 lakh shares of small-cap stocks.
Mark Mobius believes Sensex can hit 1,00,000 in the next five years.