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Sensex, Nifty on exit poll high: Reasons for stock market rally on June 3 (03-06-2024)
Sensex, Nifty on June 3: Exit polls released after the last phase of voting on June 1, 2024, unanimously predicted the clear majority for the ruling Bharatiya Janata Party
NMDC iron ore production slides 36% YoY in May’24 (03-06-2024)
The state-owned miner’s iron ore production declined by 36.92% to 2.34 million tonnes (MT) in May 2024 as against 3.71 MT produced in May 2023.
Barometers turn rangebound; oil & gas shares rally (03-06-2024)
The last phase of the Lok Sabha polls ended on Saturday, following which the exit poll results forecast a historic third term for Prime Minister Narendra Modi. The counting for the Lok Sabha polls will take place on Tuesday, June 4.
Investors gain Rs.12.48 trillion from sharp market rally in early trading (03-06-2024)
Investors’ wealth jumped Rs 12.48 lakh crore in morning trade on Monday as the benchmark equity index Sensex hit its lifetime high after exit polls predicted a massive win for the BJP-led NDA in the Lok Sabha polls.
The 30-share BSE Sensex jumped 2,777.58 points or 3.75 per cent to hit a record peak of 76,738.89 in early trade.
Following the huge rally in equities, the market capitalisation of BSE-listed companies climbed Rs 12,48,952.68 crore to hit an all-time peak of Rs 4,24,61,833.82 crore (USD 5.10 trillion) during the morning trade.
Exit polls on Saturday predicted that Prime Minister Narendra Modi will retain power for a third straight term, with the BJP-led NDA expected to win a big majority in the Lok Sabha polls.
The counting of votes will take place on June 4.
“The exit poll numbers are very strong for the incumbent government,” Narendra Solanki, Head Fundamental Research – Investment Services, Anand Rathi Shares and Stock Brokers, said.
Overall it’s positive for the .
All-India House Price Index Rises To 4.1% Annually In Q4FY24: RBI (03-06-2024)
All-India HPI increased by 4.1 per cent (y-o-y) in Q4:2023-24 as compared to 3.8 per cent growth in the previous quarter and 4.6 per cent a year ago; annual HPI growth varied widely across the cities – ranging from a high of 11.7 per cent (Ahmedabad) to a low of -0.3 per cent (Jaipur). On a sequential (q-o-q) basis, all-India HPI increased by 0.9 per cent in Q4:2023-24; among the ten cities, eight (viz., Delhi, Chennai, Bengaluru, Ahmedabad, Lucknow, Kolkata, Kanpur and Kochi) recorded a rise in house prices during the latest quarter. The Reserve Bank released its quarterly house price index (HPI)1(base: 2010-11=100) for Q4:2023-24, based on transaction-level data received from the registration authorities in ten major cities.
Shriram Finance raises USD 425 mn and Eur 40 mn via syndicated loan (03-06-2024)
This achievement follows closely on the heels of a previous successful transaction where SFL raised USD 404 million. The success of these transactions highlights the strong acceptability and confidence that lenders have in Shriram Finance’s financial stability and business model.
REC hits record high after board OKs raising upto Rs 1.45 lakh crore (03-06-2024)
REC surged 10.67% to Rs 595 after the company’s board has approved to raise funds by way of non-convertible debentures (NCDs) on a private placement basis upto an aggregate amount of Rs 1.45 lakh crore.
Ganesha Ecosphere rises after board OKs strategic investment in RACE Eco Chain (03-06-2024)
Ganesha Ecosphere advanced 3.96% to Rs 1,203.60 after the company said that its board has granted approval for making a strategic investment of Rs 16 crore in the equity share capital of RACE Eco Chain (RACE).
JTL Industries update on completion of capex plans of Nabha Steels and Metals (03-06-2024)
– Phase 1 of the expansion has been completed, and it is set to deliver a production of 5,000 metric tons per month of HR coils, the raw material for the production of ERW Steel Pipes