Top Stock Market Highlights for June 5, 2024

• 📈 Sensex and Nifty Surge:
  • Sensex closed 2,303.19 points, or 3.20%, higher at 74,382.24.
  • Nifty settled 735.85 points, or 3.36%, higher at 22,620.35.
• 📊 Market Volatility:
  • The India VIX, known as the Volatility Index, eased to 18.88 after significant gains in the previous session.
  • Early trading saw benchmark indices slipping into the red before making a strong comeback.
• 🏦 Sectoral Performance:
  • Top Gainers: Auto, IT, Pharma, FMCG sectors.
  • Top Losers: PSU Bank, Metal, Infrastructure, PSE sectors.
• 💹 Key Stock Movements:
  • Adani Ports and Special Economic Zone (APSEZ): Shares rose 1.73% to 1,270.50.
  • Persistent Technologies: Increased by 5.82% to 3,546.95 per share.
  • Adani Group Stocks: Most Adani stocks gained, with Adani Green Energy up 10.11% and Adani Ports & SEZ up 6.10%.
• 📉 Broader Market Participation:
  • On BSE, 2,497 stocks advanced, 1,275 declined, and 112 remained unchanged.
  • 109 stocks hit a 52-week high, while 107 hit a 52-week low.
• 🔍 Analyst Insights:
  • Analysts predict continued volatility until there is clarity on the new cabinet and key portfolios.
  • Sectoral preferences might shift, with a focus on consumption stocks amid market uncertainty.
• 🌐 Global Market Influence:
  • Asian markets showed mixed performance, with Japan’s Nikkei 225 down 0.56% and Hang Seng up 0.22%.
  • U.S. markets closed slightly higher, influenced by softer-than-expected labor market data.
• 🛢️ Commodity Prices:
  • WTI crude prices were trading at $73.10, up by 0.24%.
  • Brent crude prices were at $77.38, up by 0.22%.
• 📉 Recent Declines:
  • The previous session saw a significant 6% drop in Nifty, forming a long bearish candle on daily charts.
  • Key support levels for Nifty are 21,100 (200-day moving average) and 20,560 (61.82% Fibonacci retracement level).
• 📈 Key Resistance Levels:
  • For traders, 22,400/73,500 and 22,500/74,000 are crucial resistance areas.

These highlights provide a comprehensive overview of the stock market's performance on June 5, 2024, reflecting significant gains, sectoral movements, and broader market trends. Top Stock Market Highlights for June 5, 2024

Kuya Silver