Share Market HIGHLIGHTS: Sensex rallies over 2,300 pts, Nifty reclaims 22,600 in some respite for investors after election day riot
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty50 and Sensex bounched back more than three per cent on Wednesday, in some respite for investors after a riot on Dalal Street the previous day triggered by election updates. Catch all the highlights of the June 5 session, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.coms blog:
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty50 and Sensex bounced back more than three per cent each on Wednesday amid a broad-based rally on Dalal Street in some respite for investors following neck-deep losses the previous day amid incoming election data. The Sensex gained 2,303.2 points to end at 74,382.2 while the Nifty50 settled at 22,620.4, up 735.9 points from its previous close.
Catch highlights of the June 5 session on Dalal Street, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.com's blog:
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Forex Market Update: Rupee strengthens by 14 paise to settle at 83.37 vs dollar
Share Market Today: Sensex ends 2,303 pts higher, Nifty reclaims 22,600 amid broad-based rally; Nifty Bank bounces back to 49,055
- Sensex up 2,303.2 pts, or 3.2 per cent, at 74,382.2
- Nifty50 climbs to 22,620.4, up 735.9 points, or 3.4 per cent
- Nifty Bank up 2,126 pts, or 4.5 per cent, at 49,054.6
- Nifty Midcap 100 up 4.3 per cent
- Nifty Smallcap 100 up 3.8 per cent
- Volatility index down 29.4 per cent 18.9
Share Market Today LIVE | 'Buy' Zaggle Prepaid, says Vikas Sethi
Vikas Sethi of Sethi Finmart Pvt Ltd suggests buying shares of Zaggle Prepaid for a targets of Rs 280 with a stop loss of Rs 250.
Share Market Today LIVE | 'Buy' AU Small Finance Bank, says Sandeep Waghle
Sandeep Waghle of Power My Wealth suggests buying shares of AU Small Finance Bank for a targets of Rs 665/670.
Share Market Today LIVE | 'Hold' Godrej Properties, says Mehul Kothari of AnandRathi
Mehul Kothari of AnandRathi suggests to 'hold' hares of Godrej Properties as it can see a level of Rs 2,800 apiece.
Share Market Today LIVE | Broader market indices trade in firm green
Nifty Smallcap 100 and Nifty Midcap 100 are up over 3 per cent each.
Share Market Today LIVE | SBI, ICICI Bank among top 9 large cap picks by Axis Securities
Domestic benchmark indices on June 4, started on a positive note and currently are trading in firm green. Amid such market conditions, Axis Securities is bullish on a few large cap stocks from across sectors. From ICICI Bank to TVS Motor Company, Axis Securities has given picked nine stocks from the large cap space. Read more
Share Market Today LIVE | Market outlook post the Election results by Rupen Rajguru of Julius Baer India
"Over the next few days, there could be a lot of action around NDA staking the claim to form the government, and thereafter a lot of noise could be around key portfolio/ministry allocation which will keep the equity markets volatile," says Rupen Rajguru, Head Equity Investments and Strategy, Julius Baer India.
He adds with the coalition government and possible shifts in equations in the political alliances, the government will be on some sort of a backfoot in terms of bold policy measures (Land/Labour /Judicial reforms, Uniform Civil Code, etc.).
Further, Rajguru believes in the near term defensives (FMCG, IT and Healthcare) will outperform capex oriented sectors. Additionally, some of the sectors with strong narratives - PSUs, Defense, Railways will take a breather and can potentially see some de-rating from the current near all-time high valuations. Over the medium to longer term, the structural story remains intact: (EARNINGS + CAPEX + CREDIT GROWTH) and we continue to believe that India has entered a phase wherein for the next few years: Earnings growth > Nominal GDP. Hence, we continue to remain constructive on the long term potential of the Indian market and maintain our overweight stance on Financials, Autos, Real Estate, and select Industrials/Manufacturing companies.
Share Market Today LIVE | Nifty FMCG zooms to all-time high by climbing 7%; here’s what technicals look like
Nifty FMCG stocks extended their previous day’s gains and zoomed up to 6.63 per cent in Wednesday’s trade amid sharp recovery witnessed post the choppy opening session. At the last count, all of the 15 stocks constituting the Nifty FMCG index traded in the green, with notable gainers from the pack being Radico Khaitan, Marico, United Spirits and HUL, registering gains between 7-8 per cent. Read more
Share Market Today LIVE | Aditya Goela on FMCG sector
"The FMCG sector's resilience can be attributed to its defensive nature and the anticipation of a boost in rural demand post-election. The expectation of a good monsoon and softening of raw material prices, FMCG companies are poised to pass on the benefits to consumers while also investing more in brand building. This combination is expected to drive up demand for FMCG products, particularly in rural and semi-urban markets," says Aditya Goela, CFA, Co-Founder of Goela School of Finance
Goela adds however, it's important to note that the FMCG has not performed so well recently. The fast-moving consumer goods (FMCG) sector has been one of the worst-performing sectors in the current calendar year so far. Some of the factors contributing this are sluggish rural demand, high inflation and heightened competitive pressure, which hindered overall volume growth. Additionally, evolving consumer preferences towards sustainable and health-conscious products may have influenced the sector's performance
Share Market Today LIVE | Sensex climbs over 1,400 pts, Nifty above 22,300 in afteroon deals
Here is a how different sectors are performing at this hour:
Share Market Today LIVE | Sensex climbs over 1,300 pts, Nifty above 22,300 in afteroon deals
In the afternoon deals, benchmark equity indices inched higher with HDFC Bank, M&M, Infosys and HUL among the top gainers on Nifty50 index.
Here is a heatmap of stock movement at this hour:
Share Market Today LIVE | Bernstein retains its earlier target on Nifty for year end after surprise election verdict; key OW on financials
After the surprise general elections 2024 verdict, the BJP retained power but with a narrower majority. Amid this backdrop global brokerage Bernstein has retained its Nifty forecast for the year-end at 23,500, expecting high single-digit return. Importantly as the election results did not aligned with exit polls, Nifty had a worst session in four years tumbling by as much as 6 per cent to 21,884.5 points. This could translate into a potential upside of over 7 per cent from the last close. Read more
Share Market Today LIVE | Defence stocks: What should investors do with BEL, HAL shares? Here's what CLSA says
Global brokerage CLSA's report stated that the expensive valuation leaves little space for execution error. The brokerage expects the Modi government to continue to walk the talk for defence ‘Make in India’& to execute $43 billion in Indian-made products during FY24. Read more
Share Market Today LIVE | What brokerages think about India growth story as BJP falls short of majority in Lok Sabha Elections 2024
Vote counting for the Lok Sabha Elections 2024 is over. The NDA alliance has 293 seats, the INDIA bloc has 234, and others have 16. It is yet to be known who will form the government, but the NDA alliance looks in prime position as of now given its much higher number of seats than the counterpart. But the BJP didn't get majority on its own. It is limited to 240 seats this time, unlike in the 2019 elections, when it had 303 seats. Read more
Share Market Today LIVE | Angel One shares rise up to 7% on company's better monthly business update
Shares of the broking major Angel One in Monday's trade rose up to 7 per cent to day's high price of Rs 2406.35 as the company earlier today released its monthly business update. Read more
Share Market Today LIVE | HUL shares jump 7% after Jefferies double upgrades to buy—check out Hindustan Unilever share price target
Hindustan Unilever (HUL) shares jumped on Wednesday, June 5 after global brokerage Jefferies double-upgraded the FMCG major to buy from hold. Hindustan Unilever shares jumped nearly seven per cent to the day's high of Rs 2,662.95 on NSE in early morning deals. Read more
Share Market Today LIVE | BEL, HAL share price target: Defence stocks under pressure; should you buy or wait? Here's what CLSA says
Global brokerage CLSA's report stated that the expensive valuation leaves little space for execution error. The brokerage expects the Modi government to continue to walk the talk for defence ‘Make in India’& to execute $43 billion in Indian-made products during FY24. Read more
Stocks to buy | Hindustan Unilever, Tata Power, Godrej Consumer, Tata Consumer, Canara Bank, Vodafone Idea among analysts' top picks
On the top analysts' 'buy' list are stocks such as Hindustan Unilever Ltd, Tata Power, Tata Consumer Products, Godrej Consumer Products, Canara Bank, Vodafone Idea Ltd, and IPCA Laboratories. Read more
Commodity update | Precious metal futures inch higher; yellow metal above 71,100, white metal was above 89,850
Domestic precious metal futures inched higher a day after Lok Sabha erlection results annoucement. Investors are now focused on Friday's U.S. non-farm payrolls data for insights on potential rate cuts, which would reduce the opportunity cost of holding non-yielding bullion. Read more
Opening Bell | Nifty above 22,000, Sensex up nearly 650 pts; HUL, Tata Steel among top blue-chip gainers, rise up to 5%
Share Market Today LIVE | From SBI to HDFC Bank, what should investors do with bank stocks post-election results? Here's what Bernstein says
Global brokerage Bernstein does not think a wholesale policy change is likely post-Lok Sabha Election results. The brokerage in its latest report stated that an increase in populist measures (loan waivers) would be a negative for PSU banks. According to the analysts at the brokerage sudden reversal in corporate credit growth is highly unlikely in the near term. From SBI to HDFC Bank, check out the latest revised targets on these bank stocks. Read more
Currency update | Indian rupee opens at 83.46, up 7 paise from previous close
Share Market Today LIVE | Nifty could fluctuate between 21710 to 22417 in the near term, says Deepak Jasani
"Nifty tumbled to log its worst session in over four years on June 04 as vote counts from the nation's marathon elections indicated that the incumbent Bharatiya Janata Party might be reliant on alliance partners to return to power for a third time. At close, Nifty was down 5.93 per cent or 1379.4 points at 21,884.5. Nifty crashed on June 4 as vote count suggested weaker than expected performance by the NDA. Nifty fell with a large bear candle that engulfed the candles of the last three weeks, after filling the gapup made on the previous day. While clarity on the final outcome and formation of the new govt could take some more time, Nifty could fluctuate between 21710 to 22417 in the near term," says Deepak Jasani, Head of Retail Research at HDFC Securities
Traders' Diary | Buy, sell or hold strategy on Hindustan Unilever, Infosys, Tata Steel, Hindalco, CONCOR, and other stocks today
In this edition of Traders' Diary, the Zee Business research team shares exclusive research on several stocks that investors and traders can track on Wednesday, June 5, 2024. Check out the complete list of stocks on analysts Kushal Gupta and Ashish Chaturvedi's radar. Read more
Share Market Today LIVE | Hindalco shares in spotlight as Novelis postpones IPO
Hindalco shares will be in focus on Wednesday (June 5) as the company in a statement said it has postponed the initial public offering of Novelis due to market conditions. Read more
Anil Singhvi Market Strategy June 5 | After Lok Sabha election results, important levels to track in Nifty50, Nifty Bank today
Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index to emerge at 21,625-21,825 levels and a stronger support zone at 21,275-21,525 levels on Wednesday, June 5, after election results showed the NDA looked set to return for a third term at the Centre. For the Nifty Bank, he expects support to come in at 46,325-46,575 levels and a stronger support zone at 45,825-46,075 levels. Read more
Stocks to Watch | LTI Mindtree, Tata Motors, Wipro, SBI among shares to track today
Indian equities amid a less favourable polling outcome for the BJP-led NDA saw bloodbath on the D-Street. Nifty at the close ended nearly 6 per cent lower or 1,379.4 points at 21,884.5 points, while the 30-stocks index Sensex plummeted 5.74 per cent or a staggering 4,389.73 points at 72,079.05, eroding investors wealth by nearly Rs 30 lakh crore in a single session. Now, as the D-Street is likely to react to the poll outcome today, here are the stocks that will see action going in trade on Wednesday. Read more
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