Stock Market Live Updates 05 June 2024: Stock to sell today: Kajaria Ceramics (₹1,149.65)

tock Market Today | Share Market Live Updates – Find here all the live updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for 05 June 2024.

• June 05, 2024 08:15
  

  Stock market live updates: Hindalco-owned Novelis postpones IPO

  Aluminum products maker Novelis, owned by Kumar Mangalam Birla’s Hindalco Industries, on Tuesday postponed its initial public offering citing market conditions.

  “Novelis will continue to evaluate the timing of the offering in the future,” it said in a statement, without giving further details. Read more

• June 05, 2024 08:07
  

  Stock market live updates: Gift Nifty points to positive start for beaten-down domestic markets

  A day after a drastic fall due to the unfavourable poll outcome, it appears domestic markets are likely to see a positive opening on Wednesday, suggest signals from trading at Gujarat Gift City. According to the indicator, Nifty could open with a gain of about 150 points (at 730 am), as Nifty futures in Gujarat Gift city is ruling at 22,035, as against Tuesday’s closing of 21,908. Read more

• June 05, 2024 08:00
  

  Stock market live updates: Jefferies on the election outcome

  The election outcome is a near-term derating event for the markets, with most impact on recent winners such as PSUs, select industrials, and Realty, along with impact to capital market proxy stocks. We trim weight in our model portfolio on SBI (-1ppt) & ONGC (-1.5ppt) in the PSU segment, Lodha (-2.3ppt) in Realty, 360 One (-2.5ppt) as a capital market proxy and Kajaria Ceramic (-1.6ppt) in industrials. Likelihood of welfare spending /populist announcements by the coalition govt. in the July budget, alongside forecast good monsoon rainfalls, favors the rural recovery theme. We add HUL (+2.5ppt), replace Tamo with M&M as rural proxies, and add Aavas as affordable housing play. We also add HDFC Bank (+2ppt) and bring Reliance to neutral as govt policy agnostic plays in our model portfolio.

• June 05, 2024 07:58
  

  Stock market live updates: Nomura on the implications of the election results

  Policy implications: The election outcome could result in some reorientation of spending towards revex from capex, however we do not foresee a dismissal of macro prudence. We do not expect any slip of the interim budget target of 5.1% of GDP, but if the government deems reflationary policies as a political necessity, then that could mean slower consolidation. Supply-side reforms are likely to continue, while factor market reforms will remain difficult. We do not expect material impact on monetary

  policy.

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  Economic implications: Our assessment is that India’s economic fundamentals remain robust. Reforms in India have generally survived the test of politics, and we expect the government to continue the pace of governance and administrative reforms, leaving states to work around the more intractable reforms around land and labour. Hence, while near-term uncertainty is high and the political backdrop is slightly different, the broader direction of reforms, macros and the economy remain unchanged, in our view.

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  What’s next: The immediate focus is on government formation as well as political parleys between parties. News reports suggest the swearing-in ceremony could happen on 9 June. We believe the cabinet could have some new faces and our focus will be on the final budget, most likely in early July, to assess the policy direction. The first 125-day agenda of the new government will most likely focus on digitalization, infrastructure, industrialisation and governance related reforms

• June 05, 2024 07:14
  

  Stock market live updates: Rupee plunges 45 paise to close at 83.59 against US dollar on election result day

  The rupee tumbled 45 paise to close at 83.59 (provisional) against the US dollar on Tuesday as the ruling BJP is unlikely to muster an absolute majority in the Lok Sabha elections. Read more

• June 05, 2024 07:13
  

  Stock market live updates: SEBI forms panel for reviewing economic structure of clearing corporations

  SEBI has formed an ad-hoc Committee under Usha Thorat, to review the ownership and economic structure of clearing corporations, and to suggest measures to ensure that clearing corporations function as resilient, independent, and neutral risk managers. Read more

• June 05, 2024 07:11
  

  Stock market live updates: RIL to build global economic hub in Navi Mumbai

  Reliance Industries is all set to build a global economic hub in Navi Mumbai, where it has secured sub-leases on about 3,750 acres of land for ₹13,400 crore. The lease is for a period of 43 years, and it follows a memorandum of understanding that the company had signed with the Maharashtra government back in 2018. Read more

• June 05, 2024 07:09
  

  Stock market live updates: Today’s stock recommendation: Stock to sell today: Kajaria Ceramics (₹1,149.65) – SELL

• June 05, 2024 07:08
  

  Stock market live updates: Economic Calendar – 05.06.2024

  10:30 INDIA HSBC Service PMI (Expected: 61.4 versus Previous: 60.8) 

  14:00 U.K. Final Service PMI (Expected: 52.9 versus Previous: 52.9) 

  17:45 U.S. ADP Non-Farm Payroll (Expected: 173k versus Previous: 192K) 

  19:30 U.S. ISM Service PMI (Expected: 51.0 versus Previous: 49.4)

• June 05, 2024 07:07
  

  Stock market live updates: Major US stocks result calendar 05.06.2024

  Dollar Tree, Inc. (Pre market) (Sector- Retail)

  Brown Forman Corporation (Pre market) (Sector- FMCG)

  Campbell Soup Company (Pre market) (Sector- FMCG) 

  Thor Industries, Inc. (Pre market) (Sector- Automobile) 

  lululemon athletica inc. (Post market) (Sector- Textiles) 

  Smartsheet Inc. (Post market) (Sector- Technology)

• June 05, 2024 07:06
  

  Stock market live updates: Adani Group stocks feel the heat of NDA’s poor show in polls

  Adani group company stocks have been hammered amid the crash in the equity markets after the ruling NDA failed to live up to its own expectations of winning in 400 constituencies. Even though the BJP-led NDA will form the government in Centre for the third time in a row, it has to get the consent of alliance partners for pushing in reforms. Read more

• June 05, 2024 07:06
  

  Stock market live updates: Jitters on policy continuity for PSU stocks

  A long-drawn election process has come to a close and its most immediate impact has been on equity markets. But within sectors, it was PSUs that witnessed the highest declines in the day. In the last five years, these stocks gained from higher capital expenditure, logistics upgradation, defence spending and power infrastructure upgradation. With an overhang on policy continuity, these stocks shed around 20 per cent on Tuesday. Read more

• June 05, 2024 07:04
  

  Stock market live updates: Weekly Rupee View: INR to stay volatile within a band

  The rupee (INR) depreciated 0.46 per cent on Tuesday as it ended at 83.53 versus dollar (USD). This is the biggest intraday fall since February 6, 2023. As the election results came in, the market spooked, leading to a substantial sell-off. Not just rupee, but the domestic equity benchmark, Nifty 50, too, slumped nearly 6 per cent. Read more

• June 05, 2024 07:03
  

  Stock market live updates: Market sees worst fall in four years as results shock

  Indian financial markets went into a tizzy after the election results showed that Bharatiya Janata Party would have to rely on its partners to form a government, contrary to exit polls that had predicted a comfortable majority. Read more

• June 05, 2024 07:02
  

  Stock market live updates: What next for the Nifty 50 and Nifty Bank index?

  The General Election results proving to be contrary to market expectations kept the Indian stock markets highly volatile . by end of the day, the Nifty 50 and the Nifty Bank indices tumbled to close down by about 6 per cent and 8 per cent, respectively. Nifty has closed at 21,884.50 and Nifty Bank index at 46,928.60. Indeed, at a point the intraday fall in the indices were 9.3 per cent in Nifty and 10.6 per cent in the Nifty Bank index. Read more

• June 05, 2024 06:59
  

  Stock market live updates: Tata Motors forms subsidiary for CV; TMFCL to merge with Tata Capital Ltd

  Tata Motors announced the formation of a wholly-owned subsidiary for its commercial vehicle business. The owned subsidiary will be called TML Commercial Vehicle Ltd (TMLCVL). Read more

• June 05, 2024 06:58
  

  Stock market live updates: RBI absorbs surplus liquidity aggregating ₹44,430 crore through two VRRR auctions

  The Reserve Bank of India (RBI) on Tuesday absorbed surplus liquidity aggregating ₹44,430 crore through two variable rate reverse repo (VRRR) auctions of three days tenor. The aforementioned amount was deployed by banks even as the central bank was ready to absorb a total of ₹1-lakh crore (notified amount). Read more

• June 05, 2024 06:42
  

  Stock market live updates: Stock to sell today: Kajaria Ceramics (₹1,149.65) – SELL

  The outlook for Kajaria Ceramics is bearish. The stock has been falling consistently over the last one week. On Tuesday the stock had declined over 5 per cent. Although the share price had bounced from the intraday low of ₹1,125 on Tuesday, the broader picture remains weak. Strong resistance is around ₹1,195 which can cap the upside. Read more