Stock market today: Benchmark equity indices rose on Thursday, June 6 led by gains in IT, financial and oil & gas stocks amid sentiments buoyed by NDA unanimously announcing PM Narendra Modi's third term, to take oath as prime minister on June 9, Sunday. Continuing to rally for the second day running, the 30-share BSE Sensex closed at 75,074.51, up 692.27 points or 0.93 per cent while NSE Nifty went up by 201.05 points or 0.89 per cent to settle at 22,821.4. 

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Among the Nifty companies, 38 were advancing while 12 were declining. Tech Mahindra, HCL Tech, Shriram Finance, SBI Life and State Bank of India led the gains in the Nifty 50 universe while Hindalco, Hero Moto Corp, Hindustan Unilever, Asian Paints and M&M led the gains.

The domestically focussed Nifty SmallCap100 and Nifty MidCap100 jumped 3.29 per cent and 2.24 per cent, respectively.

The high-beta Nifty Bank index, whose 12 constituents include SBI, HDFC Bank, and ICICI Bank finished 0.48 per cent or 237.3 points higher at 49,291.9. 

Among the Nifty IT companies, all ten were advancing. Nifty IT jumped 2.83 per cent to close at 34,023.8. The trend followed after NVIDIA on Wednesday (June 5, 2024) surpassed Apple to become the world's second most valuable company. 

In addition, ITC, a cigarette-to-hotel conglomerate shares hogged the limelight on Thursday after the firm's board shareholders approved the proposed demerger of its hotels business. As many as 99.6 per cent of shareholders gave the nod to the demerger plan. ITC shares closed near the day's high at Rs 436.4, up 1.42 per cent on NSE. Read more 

Global Market

Global markets rose Thursday after Wall Street barreled to records Wednesday as the frenzy around artificial intelligence technology keeps sending stocks higher. European markets opened higher as investors awaited a decision by the European Central Bank. It is expected to cut its key interest rate from a record high of 4 per cent later in the day. Last, seen, the pan-European STOXX 600 was up 0.6 per cent.

(with agency inputs)

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