Sensex Today Rallies 2,303 Points | Nifty Above 22,600 Mark | 4 Reasons Why Indian Share Market is Rising

Wed, 5 Jun Closing

   Previous Close   

   Pre-Open   

   10:30 am   

After opening the day on positive note, Indian share markets continued the momentum as the session progressed and ended on firm footing.

Benchmark equity indices Nifty50 and Sensex rebounded on Wednesday after posting their worst day in over four years in the previous session.

At the closing bell, the BSE Sensex stood higher by 2,303 points (up 2.9%).

Meanwhile, the NSE Nifty closed higher by 736 points (up 3.4%).

Hindalco, M&M and Adani Ports were among the top gainers today.

BPCL AND L&T on the other hand, were among the top losers today.

The GIFT Nifty was trading at 23,590, up by 644 points, at the time of writing.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list

The BSE MidCap index ended 4.3% higher and BSE SmallCap index ended 2.9% higher.

Sectoral indices are trading positive with socks in metal sector, auto sector and telecom sector witnessing most buying.

Shares of Bajaj Auto, Trent and Colgate hit their respective 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee is trading at 83.37 against the US$.

Gold prices for the latest contract on MCX are trading 0.2% lower at Rs 71,880 per 10 grams.

Meanwhile, silver prices were trading 0.2% lower at Rs 89,459 per 1 kg.

Here are four reasons why Indian Markets are rising today

#1 Global Markets

Asian stocks rose on Wednesday, while the dollar was steady as a softening U.S. labour market firmed up bets of an interest rate cut in September from the Federal Reserve ahead of a crucial payrolls report this week.MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.24%, while the Nikkei fell 1% as the Japanese yen flirted with two-week highs.

#2 Oil Slips

Oil prices extended losses slightly from the previous session in early Asian trading on Wednesday after an industry report showed builds in US crude and fuel stockpiles, adding to concerns around demand growth.Brent crude futures fell 14 cents, or 0.2%, to $77.38 a barrel.

#3 The Rupee Factor

The Indian rupee rose 7 paise to 83.44 against the US dollar in early trade. The dollar index, which tracks the movement of the greenback against a basket of six major world currencies, rose 0.09% to 104.2 level.

#4 Index Heavyweights Rally

From Sensex, HUL, Nestle India, HCL Tech, Asian Paints, Kotak Mahindra Bank, and ITC opened higher, dragging the Sensex higher.

Speaking of stock market, have you ever heard of Occam's Razor? It basically says the simplest explanation is usually the right one. Simplicity over complexity.

Can we apply this to investing, especially penny stocks that are trading below Rs 100?

Yes, we can.

Rahul Shah, Co-head of research at Equitymaster, talks about 3 penny stocks for your watchlist, chosen using Occam's Razor principles.

Tune in for more.

Why Nazara Technologies' Share Price is Falling?

In news from the IT sector, shares of Nazara Technologies Limited climbed 6% to trade at Rs 723 in the morning on 5 June after the company announced that its subsidiary Absolute Sports will acquire all the assets of SoapCentral.com, a US entertainment content destination, for Rs 116 m in an all-cash deal.

The acquisition boosts Absolute Sports' presence in the entertainment publishing sector in the US. The company also operates a pop culture destination SK Pop, that provides news and trends related to K-POP (Korean Pop) and Korean media.

The management has said that the entertainment publishing industry is more than twice the size of sports publishing and allows Absolute a great canvas for expansion into multiple content categories.

Absolute Sports, via its flagship brand Sportskeeda.com, is a global sports media platform that covers the world's biggest sports and esports and serves more than 100 million fans every month. In 2019, Nazara, a gaming and sports media platform, picked up a majority stake in Absolute Sports.

In the fourth quarter, Nazara Technologies reported a net profit of Rs 1.8 m, a sharp decline from Rs 94 m in the same quarter last year. This drop was primarily due to a Rs 168.7 m loss from discontinued operations, resulting from write-offs in several of the company's legacy businesses, including its real-money gaming business Halaplay.

It also announced that the company will either be merging or closing entities that do not align with its future vision, including Nazara Bangladesh and NZ Mobile Nigeria.

Angel One Surges 6%. Here's Why.

Moving on to news from the finance sector, shares of Angel One surged over 6% to Rs 2,406 per share on June 5 after the company shared a strong monthly business update. The broking firm's client base increased significantly by 63.3% year-on-year (YoY) in May 2024 to 23.8 million from 14.5 million.

So far this year, Angel One declined over 33%, underperforming the 3% rise in the benchmark Nifty 50 index. Earlier, Angel One hit a 52-week high of Rs 3,900 per share on 9 January 2024.

On a month-on-month (MoM) basis, the brokerage firm's client base grew by 3.7% in May 2024 from 22.99 million posted in April 2024. Meanwhile, gross client acquisition in May 2024 was 0.88 million, up 91% YoY and 16.9 percent from April 2024.

Angel One's average daily orders (ADO) reached Rs 7.56 million, increasing 11.6% MoM and 83.5% YoY.

Additionally, the company's cash market turnover share was 17.15, up 0.8% MoM and 3.7% YoY. In the commodity segment, its turnover market share was 57.2%, up 0.2% YoY.

Angel One provides broking and advisory services, margin funding, loans against shares and distribution of third-party financial products to its clients.

In the January-March quarter, the company's consolidated net profit grew by 27% YoY to Rs 3.4 bn, while total income rose by 63% YoY to Rs 13.6 bn.

To know what's moving the Indian stock markets today, check out the most recent share market updates here

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers