Dalal Street Rejoices BJP Win: What’s Next for the Markets? | Weekly Update 15th June

Hello Readers!

Following the BJP’s decisive victory in the 2024 Lok Sabha elections, the market is navigating through a period of cautious optimism. The election outcome has provided clarity, alleviating some uncertainties that were prevalent in the pre-election period. But before you decide to explore the possible scenarios and strategies, let’s dive into the market insights for this week!

🧾In this Article

Weekly Market Wrap-up
Key results this week
Quick bites
Stocks in News
Sustainability Corner
IPO news
Cover story: Markets & Win
Key Events

📈 Weekly Update

In the Indian stock market, key indices showed positive movements. The SENSEX rose by 0.07%, gaining 57.36 points to close at 76,992.77. The NIFTY increased by 0.62%, adding 146.45 points to finish at 23,465.60. The BANKNIFTY climbed by 0.38%, up 193.85 points, ending at 50,002.00. Among the broader indices, the S&P BSE SmallCap surged by 4.12%, gaining 2,030.65 points to close at 51,199.99, while the S&P BSE MidCap advanced by 3.50%, rising 1,561.42 points to reach 46,058.76.

Top Gainers:

Siemens rose by 13.33% to close at 7,790.3, with an intra-day high of 7,910 and a low of 7,416.65. A B B experienced an 11.77% gain, ending at 9,021.85, with a high of 9,143.95 and a low of 8,450.25. Samvardhana Motherson increased by 11.65%, closing at 174.95, with an intra-day range between 176.1 and 167.82. Hindustan Aeronautics saw a 9.57% rise, finishing at 5,199.6, with a high of 5,260 and a low of 5,103.15. Shriram Finance climbed by 9.34%, closing at 2,731.25, with an intra-day high of 2,747 and a low of 2,695.05.

Top Losers:

Marico dropped by 5.18%, closing at 619.15, with an intra-day high of 621.7 and a low of 611. Hindustan Unilever fell by 3.78%, ending at 2,479.25, with a high of 2,509.6 and a low of 2,470.05. Adani Total Gas decreased by 3.31%, closing at 946, with an intra-day range between 959.35 and 942.15. Adani Green saw a 3.09% decline, finishing at 1,806.25, with a high of 1,825 and a low of 1,787.15. Infosys dropped by 2.92%, ending at 1,488.55, with an intra-day high of 1,501 and a low of 1,486.

Sector Spotlight:

In the Indian markets, sectoral indices showed varied performance. The NIFTY AUTO index increased by 2.47%, closing at 25,722.10, and NIFTY CPSE saw a significant rise of 3.26%, ending at 6,774.85. NIFTY ENERGY gained 0.90% to reach 41,040.00, while NIFTY IT decreased by 1.54%, closing at 34,598.55. NIFTY METAL was up by 0.59% to 9,912.10, and NIFTY PHARMA climbed by 1.01%, finishing at 19,895.65.

NIFTY MEDIA experienced a substantial gain of 3.88%, reaching 2,057.85, and NIFTY REALTY saw an impressive rise of 4.83%, closing at 1,129.10. NIFTY PSU increased by 1.79%, ending at 7,464.15, while BANK NIFTY rose by 0.38%, closing at 50,002.00. Conversely, NIFTY FMCG declined by 1.39%, finishing at 57,225.85.

Global Gossip:

In the US markets, the Dow Jones Futures slightly dipped by 0.13% to 38,661.67, while the S&P 500 rose 0.85% to 5,421.03, and the Nasdaq surged 1.53% to 17,608.44, reflecting a positive trend overall.

In European markets, the FTSE edged down 0.08% to 8,208.53, the CAC dropped 0.17% to 7,850.98, and the DAX slightly decreased by 0.20% to 18,592.89.

Meanwhile, in Asia, the Nikkei 225 fell by 0.40% to 38,720.47, the Hang Seng gained 0.85% to 18,090.94, and the Shanghai Composite slipped 0.28% to 3,028.92, showcasing mixed performances across different regions.

Rupee Report:

The Indian rupee stabilised over the past week, ending 8 paise higher at 83.38 per US dollar. Despite this modest recovery, the rupee is expected to open slightly lower due to a stronger US dollar against regional currencies. The currency had previously fallen to a record low, pressured by the robust performance of the dollar. However, cooling inflation has triggered a risk-on sentiment across markets, providing some support to the rupee. Looking ahead, the rupee is anticipated to open slightly higher, driven by a recovery in the greenback and ongoing foreign fund outflows.

Gold Report:

On Friday, gold traded slightly higher, hovering just above the ₹1,73,000 mark during the early European session. Asian markets showed indecision overnight, while mixed signals from the US regarding future interest rate trajectories, a crucial factor influencing gold prices, contributed to uncertainty in the precious metal’s direction.

Bottom Line:

Looking ahead, the markets may see continued volatility driven by global economic indicators, especially concerning inflation and interest rates. Investor sentiment remains cautiously optimistic, influenced by geopolitical developments and central bank policies. Traders should monitor these factors closely for potential market movements in the upcoming week.

🍟 Quick Bites

🌟 Rupee Closes Flat Against Dollar Amid Unchanged US Interest Rates
✨ Citi Sees India Allure Enticing Global Bond Funds to Stay
💥 Nifty Extends Record Run On Weekly Expiry Day and Sensex Ends 200 Points Up
💢 India’s Stock Rebound From Election Upset Is Fastest In A Decade
💫 Global Money Has Started Tiptoeing Back Into Indian Equities
📉 India’s Stock Trading Volume Surges To Record On Brisk Recovery
☀️ US Sanctions Force Moscow Exchange To Halt Dollar, Euro Trading
❄️ HDFC Life Sees New Business Margins Hit By A Percent Due To Regulatory Reforms
⚡ Nifty Likely To Consolidate With Positive Bias On Strong Cues as per trade Setup For June 13
💫 FPIs Turn Net Buyers As Nifty Hits Record High
✨ EPACK Prefab Sees 35% Growth Outlook In FY25 Amid Rising Orders

📰 Stocks in News

🏦 Top IT Firms Add ₹ 25,000 Crore To Investor Wealth As Fed Rate Cut Hopes Persist
🏗️ KIOCL Hits Three-Week High On Operational Clearance To Devadari Mine
🤝 Bondada Engineering Hits Record High After ₹ 939 Crore Contract Win
🏦 Whirlpool Of India Jumps To Over One-Year High After HUL Partnership
📶 Exide Industries Hit’s Record High After Investments In Energy Solution Arm
💼 Gensol Engineering Locked In Upper Circuit After ₹ 1,340 Crore Power Storage Contract
⌚ Sobha Surges After Board Nod To ₹ 2,000 Crore Rights Issue
🏦 L&T Finance At Six-Year High After Large Trade
🏢 S&P 500’s Gains Fizzle Out As Europe Stocks Slide
💰 Kalpataru Projects International Raises ₹ 300 Crore Via NCD Issuance
🔌 Sugar Stocks Extend Gains With Ethanol Blending Goal On Track
💫 Thermal Power Eyes ₹ 6.7 Lakh Crore Capex To Cover Green Energy Shortfall
🎖️ Torrent Pharma Receives Form 483 With Five Observations From USFDA
📉 Whirlpool India And HUL To Market Surf Excel
☕ Costa Coffee Sees 49% Rise In Revenue In FY24, Expands Store Count
🎓 Sundaram Home Finance Targets ₹ 300-Crore Disbursal In Emerging Business Segment
🔥 Indkal Technologies Raises Around ₹ 300 Crore In ‘Series A’ Funding

🌱 Sustainability Corner:

🍏 Tata Power Renewable Energy Sets Up 850+ E-Bus Charging Stations Across India
🌼 E-Rickshaws Overshadow Electric Scooters In May As Lack Of Subsidy Bites
🌿 GAIL Could See Higher Transmission, Expense Cut On Natural Gas GST Inclusion
🌿 EU sets duties on Chinese electric vehicles of up to 38%

🚀 IPO Corner:

Listings:

Durlax Top Surface Limited IPO will open on June 19, 2024, close on June 21, 2024, and list on June 26, 2024, with an issue price ranging from ₹65.00 to ₹68.00 and an issue size of ₹40.80 crores.
Falcon Technoprojects India Limited IPO will also open on June 19, 2024, close on June 21, 2024, and list on June 26, 2024, with an issue price of ₹92.00 and an issue size of ₹13.69 crores.
Akme Fintrade India Ltd IPO is set to open on June 19, 2024, close on June 21, 2024, and list on June 26, 2024, with an issue price between ₹114.00 and ₹120.00 and an issue size of ₹132.00 crores.

Currently Open:

GP Eco Solutions India Limited IPO opened on June 14, 2024, and will close on June 19, 2024. The company’s shares will be listed on June 24, 2024. The issue price for the IPO is set between ₹90.00 and ₹94.00 per share, aiming to raise ₹30.79 Crores.

Upcoming SME IPOs this Week: