Stock Market LIVE Updates: Sensex, Nifty trade higher at pre-open; BHEL, IEX, NBCC in focus

We have seen a sharp bounce back in the markets yesterday after news of NDA forming a government for the 3rd consecutive time. Global markets were also strong yesterday. Market can stay in a range for some days and we can witness some consolidation after high volatile days. Nifty can find support at 22,500 followed by 22,400 and 22,200. On the higher side, 22,750 can be an immediate resistance, followed by 22,800 and 22,900. The charts of Bank Nifty indicate that it may get support at 48,900, followed by 48,700 and 48,600. If the index advances further, 49,200 would be the initial key resistance, followed by 49,400 and 49,500.

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  Moneycontrol.com

• June 06, 2024 / 09:50 AM IST

  Sensex Today  | 1.24 million shares of Suzlon Energy traded in a bunch: Bloomberg

  

• June 06, 2024 / 09:50 AM IST

  Sensex Today | BSE Realty index gains nearly 5%; Macrotech Developers up 10%

  BSE REALTY Top Stock Gainers (Intra-day)

• June 06, 2024 / 09:48 AM IST

  Commodity Check | Gold gains as US dollar, yields slip; focus on jobs data

  Gold firmed on Thursday as the dollar and Treasury yields retreated on rising bets that U.S interest rate cuts may start as early as September, while investors awaited the U.S. non-farm payrolls data.

  Spot gold was up 0.8% at $2,373.31 per ounce as of 0258 GMT, after rising 1% in the previous session.

  U.S. gold futures rose 0.7% to $2,392.80.

• June 06, 2024 / 09:43 AM IST

  Stock Market LIVE Updates | Century Textiles arm form JV with Barmalt India for housing project; gains most in 5 months

  Birla Estates Pvt Ltd, the real estate venture of the Aditya Birla Group and a 100% wholly owned subsidiary of Century Textiles and Industries Limited, has entered into a joint venture with Barmalt India Pvt Ltd. for a luxury residential group housing development in Sector 31, Gurugram.

  The land parcel is spread across 13.27 acres with a development potential of approx. 2.4 million square feet offering a revenue potential of approximately Rs 5000 crore.

  

• June 06, 2024 / 09:30 AM IST

  Sensex Today | BSE FMCG index down 1%; Jyothy Labs, Godrej Consumer down 3% each

  BSE FMCG Top Stock Losers (Intra-day)

• June 06, 2024 / 09:26 AM IST

  Sensex Today | 33 lakh shares (0.73% equity) of PB Fintech worth Rs 428.1 crore change hands at Rs 1,297 per share

  

• June 06, 2024 / 09:23 AM IST

  Sensex Today | Heritage Foods locked at 10% upper circuit

  Heritage Foods has extended the gains on Thursday, gaining 20 percent on June 5, after news reports of TDP chief Chandrababu Naidu is poised to become Andhra Pradesh Chief Minister after the regional party’s landslide victory in election and he might support National Democratice Alliance (NDA).

  

• June 06, 2024 / 09:20 AM IST

  Stock Market LIVE Updates | NBCC gets multiple work orders worth up to Rs 491.45 crore

  

• June 06, 2024 / 09:17 AM IST

  Sensex Today | Gainers and Losers on the BSE Sensex in the early trade:

• June 06, 2024 / 09:16 AM IST

  Opening Bell | Nifty opens around 22,700

  Amid positive global cues, the Indian indices opened higher on June 6 with Nifty around 22,700.

  The Sensex was up 404.92 points or 0.54 percent at 74,787.16, and the Nifty was up 113.90 points or 0.50 percent at 22,734.20. About 2046 shares advanced, 349 shares declined, and 97 shares unchanged.

  NTPC, SBI, Adani Enterprises, ONGC and Power Grid Corp were among major gainers on the Nifty, while losers were HUL, Britannia, Hindalco, Nestle and Cipla.

• June 06, 2024 / 09:13 AM IST

  Sensex Today | Sensex, Nifty likely to open higher: Deven Mehata, Research Analyst at Choice Broking

  The benchmark Sensex and Nifty indices are expected to open higher on June 6, following GIFT Nifty trends indicating a gain of 35 points for the broader index.

  Nifty can find support at 22,500 followed by 22,400 and 22,200. On the higher side, 22,750 can be an immediate resistance, followed by 22,800 and 22,900.

  The charts of Bank Nifty indicate that it may get support at 48,900, followed by 48,700 and 48,600. If the index advances further, 49,200 would be the initial key resistance, followed by 49,400 and 49,500.

  Foreign institutional investors (FIIs) continued their selling for a second consecutive session on June 5 as they sold Indian equities worth Rs 5,656.26 crore, while domestic institutional investors turned net buyers as they purchased equities worth Rs 4,555.08 crore on the same day.

  INDIAVIX was negative yesterday by 29.40% yesterday and is currently trading at 18.8850.

  We have seen a sharp bounce back in the markets yesterday after news of NDA forming a government for the 3rd consecutive time. Global markets were also strong yesterday. Market can stay in a range for some days and we can witness some consolidation after high volatile days.

• June 06, 2024 / 09:11 AM IST

  Sensex Today | Nifty may face resistance at 23,080-23,130: Aditya Gaggar, Director of Progressive Shares

  V-shaped recovery propelled the Index higher to end Wednesday trade at 22,620. With a hidden bullish divergence in RSI, the Index has formed a big green candle known as the Inside Bar candle, representing continuation of an uptrend. The level of 22,240 will be considered as an immediate support while 23,080-23,130 will be a crucial resistance zone.

  We continue to remain bullish on the Auto sector as it has regained its momentum and moved in tandem with its primary uptrend (Bajaj Auto- Rounding Bottom Breakout, Balkrishna Industries- Rounding Bottom Breakout/Pullback, Hero Motocorp, M&M and TVS Motors- Fresh Breakout). From the BankNifty, IndusInd Bank looks strong as it is on the verge of giving a Falling Wedge Breakout.

  In the short term, profit booking correction can be expected in the FMCG segment. The IT sector bounced from its long-term trendline support coupled with a bullish divergence in RSI indicating trend reversal; however, we will wait for confirmation. Some of the Metal stocks have reversed with a hidden bullish divergence in RSI which suggests an extension of the primary up-move (stocks can be added on a minor dip). A much-awaited range breakout can be anticipated in the Pharma space. (Granules- Flag and Pole Breakout).

• June 06, 2024 / 09:08 AM IST

  Sensex Today | Buy Nifty at 22620 with target of 22750-22900: Prashanth Tapse, Senior VP (Research), Mehta Equities

  Nifty surged in yesterday’s trade with all sectoral indices closing in green, as investors shrugged off election jitters, showing confidence in the long-term potential of the Indian market. India VIX tumbled 29%, signaling reduced volatility. Key catalysts include increased expectations for Federal Reserve interest-rate cuts, record-high closes for the S&P 500 and Nasdaq 100, and all-time highs for AI stocks like NVIDIA, with Apple nearing a $3 trillion market cap.

  Additionally, oil prices remain low at $73.50 a barrel. Technically, Nifty’s immediate targets are 22900 and 23339, with intraday support at 22300.

  The RBI MPC meeting outcome on June 7th is also highly anticipated.

  Preferred trades: Buy Nifty at 22620 with targets of 22750/22900, and Bank Nifty at 49055 with targets of 49350/49700. Top stock pick: NTPC at CMP 341, targeting 365/381, with an aggressive target of 401.