Sensex and Nifty50 gains as Nifty Private Bank, Nifty Auto, Bank, and FMCG indices all saw significant increases, with other sectoral indices also rising by up to 3%.
Nifty and Sensex rebounded on June 5 as BJP allies pledged support for a new government, boosting investor confidence in political stability and continuity.
The Sensex and Nifty both rose by 3.20 percent, with the largest gainers being Adani Ports, IndusInd Bank, Hindalco, Tata Steel, and M&M, while the biggest losers were L&T and BPCL.
Sectors and stocks
Sectoral indices saw a surge, with Nifty Private Bank gaining over 5%, while Nifty Auto, Bank, and FMCG indices each gained over 4%. The BSE Midcap index also rose over 4%, with investors’ wealth increasing by around Rs 13 lakh crore.
June 06 Forecast
The price rebounded in the second half of the session, closing above the 22,600 level, indicating a potential bullish reversal. If above 22,800, it could rise to 23,000. Support levels are 22,000 and 21,800.
Nifty recovers to 100-day moving average at 21786, closing above 21-day EMA. Monitor key levels for bullish/bearish outlooks. Buy-on-dip approach recommended if above EMA or 22500.
The Bank Nifty index has experienced a significant recovery from its 200-day moving average, suggesting a buy-on-dip strategy with a stop-loss at 47500, with immediate support at 47,800 and resistance at 49,500.
The Nifty index rebound is encouraging, but maintaining above 22,600 is crucial for a 23,000 move. Defensive sectors like FMCG, IT, and pharma are recommended.
| FII Sold | -5,656.26 Cr |
| DII Bought | 4,555.08 Cr |
Indian Market Stocks
| Sensex | 2,303.19 | +3.20% | 74382.24 |
| Nifty 50 | 735.85 | +3.36% | 22620.35 |
| Nifty Bank | 2,126.00 | +4.53% | 49054.60 |
Market Movers
| Adani Ports | 105.65 8.46% | ||
| IndusInd Bank | 109.45 7.87% | ||
| Hindalco | 46.20 7.12% | ||
| Hero Motocorp | 347.80 6.55% | ||
| M&M | 168.05 6.53% |
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Indian indices opened positively, with Sensex and Nifty reaching 76,000 and 23,100, respectively. Top gainers included Divis Labs, IndusInd Bank, Axis Bank, LTIMindtree, and Adani Ports, while losers included Adani Enterprises, Wipro, Grasim Industries.
Indian indices opened positively, with Sensex and Nifty reaching 76,000 and 23,100, respectively. Top gainers included Divis Labs, IndusInd Bank, Axis Bank, LTIMindtree, and Adani Ports, while losers included Adani Enterprises, Wipro, Grasim Industries.
Indian indices opened positively, with Sensex and Nifty reaching 76,000 and 23,100, respectively. Top gainers included Divis Labs, IndusInd Bank, Axis Bank, LTIMindtree, and Adani Ports, while losers included Adani Enterprises, Wipro, Grasim Industries.
Sensex Sensex Sensex
Sensex After four weeks of increases, Sensex and Nifty fell 2% for the first time After four weeks of increases, Sensex and Nifty fell 2% for the first time
The Nifty has experienced a decline, closing the day around 160 points lower. The daily charts show no follow-through buying interest after a breakout, and selling pressure at higher levels could lead to a slipping back into the consolidation zone. The Bollinger bands are contracting, indicating a range contraction. The Bank Nifty has not maintained positive momentum, and it could slip towards the 46900-46800 range. The overall trend is bullish, with an intermediate corrective phase in progress. Short-term weakness could lead to a decline towards the 22200-22250 range.
The Nifty has experienced a decline, closing the day around 160 points lower. The daily charts show no follow-through buying interest after a breakout, and selling pressure at higher levels could lead to a slipping back into the consolidation zone. The Bollinger bands are contracting, indicating a range contraction. The Bank Nifty has not maintained positive momentum, and it could slip towards the 46900-46800 range. The overall trend is bullish, with an intermediate corrective phase in progress. Short-term weakness could lead to a decline towards the 22200-22250 range.
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