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Indian equity indices logged worst trading session in over four years amidst Lok Sabha Election results. The NSE Nifty 50 closed 5.93% or 1,379.40 points higher at 21,884.50, while the S&P BSE Sensex ended 5.74% or 4,389.70 points up at 72,079. Intraday, Nifty fell as much as 8.52% to 21,281.40, the highest intraday fall since March 23, 2020, while Sensex declined 8.15% to 70,234.40. Heavy-weight stocks like Reliance Industries, HDFC Bank, ICICI Bank, Larsen & Toubro, State Bank Of India weighed on the Nifty 50. While Hindustan Unilever, Nestle India, Hero MotoCorp, Britannia Industries, Tata Consultancy Services helped to limit the loss in the index.

The broader market underperformed the benchmark index; The S&P BSE Mid-Cap index declined by 8.07% and the S&P BSE Small-Cap index declined by 6.79%. On BSE, 3,337 stocks declined, 500 stocks advanced and 97 remained unchanged.

Among the sectoral indices, the Nifty FMCG index (up 0.95%), the Nifty IT index (down 0.60%) and the Nifty Healthcare index (down 0.93%) outperformed the Nifty 50 index. Meanwhile, the Nifty PSU Bank index (down 15.14%), the Nifty Oil & Gas index (down 11.80%) and the Nifty Metal index (down 10.63%)  underperformed the Nifty 50 index.

Investors should add fundamentally strong stocks in their portfolio and remain cautioned while trading in the upcoming trading sessions.

DERIVATIVE PICKS

Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
DABUR.24.06 Jun 580.5 5.7 9.38 22603750 RECLTD.24.06 Jun 457.2 -24.7 5.23 52200000
HINDUNILVR.24.06 Jun 2478.15 5.6 5.49 19587300 PFC.24.06 Jun 430.15 -22.75 6.25 74989000
IDEA.24.06 Jun 16.2 5.19 3.17 2686920000 BHEL.24.06 Jun 251 -19.97 15.36 81112500
GODREJCP.24.06 Jun 1354.9 3.2 9.79 6557500 ADANIENT.24.06 Jun 2943 -19.88 4.89 13765500
MARICO.24.06 Jun 616.25 3.08 16.26 11403600 BEL.24.06 Jun 257.35 -19.68 8.11 130963200
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
COLPAL.24.06 Jun 2812.8 3.96 -4.99 2720200 ADANIPORTS.24.06 Jun 1240 -21.81 -3.63 33198400
NESTLEIND.24.06 Jun 2430.05 2.41 -2.27 6391400 SAIL.24.06 Jun 134.95 -19.58 -4.99 176380000
MCDOWELL-N.24.06 Jun 1213.5 2.13 -0.03 7658700 HINDCOPPER.24.06 Jun 303.2 -18.8 -6.24 31373350
ABBOTINDIA.24.06 Jun 26517.7 1.45 -0.51 145240 ONGC.24.06 Jun 236.5 -17.37 -5.39 83027175
TATACONSUM.24.06 Jun 1090.1 1.3 -4.83 11488500 INDUSTOWER.24.06 Jun 307.85 -16.05 -0.8 65667600

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hcl Technologies Ltd. 1303.55 -0.83 5447244 4217940 78.34 Nifty50 21928.2 -5.74 71445
Alkem 4729.8 -1.91 439244 568665 77.88 Niftybank 46982.25 -7.84 71445
Infosys Limited 1393.65 -0.87 13736134 7974682 75.31 Nifty it 32388.55 -0.38 71445
Syngene 662.1 -0.57 882983 827106 72.41 India Vix 26.75 27.75 90870
Icici Lombard General In 1536.25 -4.02 1917683 580328 71.02 Nifty Fmcg 55183.05 0.97 71445
Larsen & Toubro Limited 3403.2 -12.67 9920882 4070243 70.57 Nifty Pharma 18680.45 -0.97 71445
Pidilite Industries Ltd 3062.2 2.6 713025 291951 69.65 Nifty Realty 975.85 -9.65 71445
Hdfc Life Insurance Comp 534.45 -2.84 9783762 6425402 69.36 Nifty Auto 23206.2 -3.28 71445
Tata Consultancy Serv Lt 3715 0.33 3395997 1485357 68.87 Nifty Metal 9002.5 -10.41 71445
Nestleind 2427.75 3.09 1558531 718770 67.02 Nifty Financial Services 20848 -7.74 71445

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Nikkei Services PMI (May) on 05th June, 2024

INR: Interest Rate Decision on 07th June, 2024

USD : Services PMI (May) on 05th June, 2024

USD: Initial Jobless Claims on 06th June, 2024

NEWS UPDATES

  • Indian benchmark indices lost more than 5 percent on vote counting day on June 4. The Sensex was down 4,389.73 points or 5.74 percent at 72,079.05, and the Nifty was down 1,379.40 points or 5.93 percent at 21,884.50. About 331 shares advanced, 3093 shares declined, and 55 shares unchanged. BSE Midcap index shed 8 percent and smallcap index fell nearly 7 percent.

  • Foreign brokerage Morgan Stanley has reiterated its “Overweight” call on Reliance Industries as it sees the monetisation cycle pick up. The brokerage also retained its target price of Rs 3,046 per share on Reliance Industries indicating a minor upside from the current levels. According to the brokerage, the re-rating potential takes centerstage as the monetization cycle accelerates and the earnings catch-up will be a key event in FY26, as multiple catalysts improve.

  • Amid a heavy sell-off on Dalal Street, most Indian indices are trading red with heavy intraday losses. However, the Nifty FMCG index ended up being around one percent higher. FMCG major Britannia share price touched a new lifetime peak of ₹5,414.40 per share on NSE. The stock ended around 3.50 percent higher at ₹5,340 per share.

Source: Moneycontrol, Economic Times,  Indian Express, Business Today, Livemint, Business Standard

BOARD MEETINGS

Company Name Purpose Meeting Date Company Name Purpose Meeting Date
AARTISURF General 05-Jun-24 SANDUPHQ Audited Results 05-Jun-24
ACESOFT General 05-Jun-24 SPYL Consolidation of Shares;A.G.M. 05-Jun-24
ARIHANTINS Half Yearly Results;Audited Results 05-Jun-24 STRATMONT Preferential Issue of shares 05-Jun-24
BONDADA Preferential Issue of shares 05-Jun-24 SUCROSA Quarterly Results 05-Jun-24
BPLPHARMA General;A.G.M. 05-Jun-24 TOYAMSL General;Quarterly Results 05-Jun-24
CHCL General 05-Jun-24 ADTYFRG General;Audited Results 06-Jun-24
CLIOINFO General 05-Jun-24 ARSHIYA General;Quarterly Results 06-Jun-24
DEVLAB General 05-Jun-24 AZTEC Audited Results 06-Jun-24
GDTRAGN Preferential Issue of shares;General 05-Jun-24 CANFINHOME General 06-Jun-24
HOCL General 05-Jun-24 MACH General;Audited Results 06-Jun-24
INDXTRA Increase in Authorised Capital;General 05-Jun-24 MACIND General 06-Jun-24
INVENTURE Right Issue of Equity Shares 05-Jun-24 MISHTANN Right Issue of Equity Shares 06-Jun-24
MBECL Audited Results 05-Jun-24 MONGIPA Right Issue of Equity Shares;Preferential Issue of shares;Issue Of Warrants 06-Jun-24
NATURO Audited Results 05-Jun-24 PADAMCO General 06-Jun-24
PMCFIN General 05-Jun-24 RCF Audited Results 06-Jun-24
RACE Preferential Issue of shares;Issue Of Warrants 05-Jun-24 SKIL Quarterly Results 06-Jun-24

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
GUJTLRM 05-Jun-24 Right Issue of Equity Shares SPRIGHT 07-Jun-24 Right Issue of Equity Shares
MANAPPURAM 05-Jun-24 Interim Dividend – Rs. – 1.0000 UNOMINDA 07-Jun-24 Final Dividend – Rs. – 1.3500
OMANSH 05-Jun-24 Resolution Plan -Suspension LALPATHLAB 10-Jun-24 Final Dividend – Rs. – 6.0000
SHARDAMOTR 05-Jun-24 Buy Back of Shares MOTILALOFS 10-Jun-24 Bonus issue 3:1
CLARA 06-Jun-24 Interim Dividend – Rs. – 0.5000 NELCO 10-Jun-24 Dividend – Rs. – 2.2000
VUENOW 06-Jun-24 Interim Dividend – Rs. – 0.2500 ASIANPAINT 11-Jun-24 Final Dividend – Rs. – 28.1500
HOMEFIRST 07-Jun-24 Final Dividend – Rs. – 3.4000 JINDALSAW 11-Jun-24 Final Dividend – Rs. – 4.0000
HSCL 07-Jun-24 Final Dividend – Rs. – 0.5000 KRITI 11-Jun-24 Final Dividend – Rs. – 0.2000
ICICIGI 07-Jun-24 Final Dividend – Rs. – 6.0000 KRITINUT 11-Jun-24 Final Dividend – Rs. – 0.3000
INA 07-Jun-24 E.G.M. TATAMOTORS 11-Jun-24 Final Dividend – Rs. – 3.0000
INDHOTEL 07-Jun-24 Final Dividend – Rs. – 1.7500 TATAMOTORS 11-Jun-24 Special Dividend – Rs. – 3.0000
INDIAMART 07-Jun-24 Final Dividend – Rs. – 20.0000 TATAMTRDVR 11-Jun-24 Special Dividend – Rs. – 3.1000
INDIANB 07-Jun-24 Final Dividend – Rs. – 12.0000 TATAMTRDVR 11-Jun-24 Final Dividend – Rs. – 3.1000
JMFINANCIL 07-Jun-24 Final Dividend – Rs. – 2.0000 TATACHEM 12-Jun-24 Final Dividend – Rs. – 15.0000
RFSL 07-Jun-24 Interim Dividend – Rs. – 0.8000 CIEINDIA 13-Jun-24 Final Dividend – Rs. – 5.0000
SMCGLOBAL 07-Jun-24 Final Dividend – Rs. – 1.2000 ICICIPRULI 13-Jun-24 Final Dividend – Rs. – 0.6000

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