Share Market News Today | Sensex, Nifty, Share Prices Live
The Indian stock market saw a significant recovery today with the benchmark indices BSE Sensex and NSE Nifty 50 opening higher on Thursday. This surge comes amidst positive market sentiment and promising economic indicators.
Share Market Today Live Updates | Market Opening Highlights
On Thursday, the NSE Nifty 50 commenced trading at 22,692.55, marking a rise of 72.20 points or 0.32%. Similarly, the BSE Sensex opened at 74,698.66, reflecting an increase of 316.42 points or 0.43%. The broader indices also showed a positive trend with the Bank Nifty index opening marginally higher at 49,068.60.
Top Gainers and Losers
The top performers in the Nifty 50 included NTPC, SBI, ONGC, Power Grid, and Coal India. Conversely, Britannia, Hero MotoCorp, Hindustan Unilever, Hindalco, and Nestle India were among the top losers for the day.
Early Movers on NSE
In early trading on the NSE Nifty 50, NTPC, State Bank Of India, ONGC, Coal India, and Power Grid Corp emerged as the top gainers. On the other hand, Hindustan Unilever, Britannia Industries, Nestle India, Cipla, and Hindalco Industries were the notable laggards.
Share Market Today Live Updates | Gold Movement Insights
Praveen Singh, Associate Vice President of Fundamental Currencies and Commodities at Sharekhan by BNP Paribas, reported that spot gold closed with a gain of 1.28% at $1955 on Wednesday. This was due to falling US yields despite robust US ISM services data, and a rate cut by the Bank of Canada.
Pre-open Outlook by Mehta Equities
India VIX saw a 29% drop on Wednesday, indicating reduced market volatility. Key factors include expectations of Federal Reserve rate cuts, record-high closes for the S&P 500 and Nasdaq 100, and all-time highs for AI stocks like NVIDIA. Prashanth Tapse, Senior Vice President of Research at Mehta Equities, highlighted that Nifty’s immediate targets are 22,900 and 23,339, with intraday support at 22,300. The outcome of the RBI MPC meeting on June 7th is also highly anticipated.
Expert’s Take Before Market Open
Rahul Ghose, CEO of Hedged.in, noted that the Nifty has increased put writing at the 22,500 level, with max pain currently at 22,450, indicating limited downside for the day. Nifty PCR trading at 0.60 suggests that the index is oversold, which may prompt a resurgence of bulls at lower levels. A firm closing above the 23,000 level is crucial to negate the downside move from June 4th.
Technical View on Nifty by Experts
Mandar Bhojane, Research Analyst at Choice Broking, mentioned that Nifty’s sharp rebound, closing above the 22,600 level, indicates a potential bullish reversal. If the price closes above the 22,800 level, it could potentially rise to 23,000 and beyond in the coming days. Immediate support levels are 22,000 and 21,800.
FII and DII Data
Foreign institutional investors (FII) sold shares worth Rs 5,656.26 crore, while domestic institutional investors (DII) sold shares worth Rs 4,555.08 crore on June 5, 2024, as per provisional data from the NSE.
Crude Oil Prices
On Thursday morning, WTI crude prices were trading at $74.55, up by 0.36%, while Brent crude prices were at $78.78, up by 0.48%.
US Dollar Index
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, traded down by 0.16% at 104.08.
Wall Street Performance
The US market soared to new lifetime highs with Nvidia leading the tech stock rally. Weak labor market data bolstered hopes for an interest rate cut later this year. The Nasdaq Composite jumped 331 points or 1.96% to end at 17,187.90. The S&P 500 advanced by 1.18% to 5,354.03, and the Dow Jones Industrial Average rose by 0.25% to 38,807.33.
Stay tuned for more live updates on the stock market and financial insights throughout the day.
