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Indian market is anticipated to rise on Friday, following positive global trends. Nifty futures closed down by 1.13% at 22487 on Thursday. Options data indicates a trading range of 21800 to 23100. Experts recommend buying Apollo Tyres, Coromandel International, Texmaco Rail, Indus Tower, Oberoi Realty, and Sona BLW Precision Forging for short-term trading.
TBI Corn IPO GMP: TBI Corn IPO, which aims to raise Rs 45 crore, will remain open till June 3. Global maize production increase encourages trade worldwide. Offer structure: 50% for QIB, 35% for retail, 15% for NII investors.
During the election season, PSU stocks, also known as \’Modi stocks\’, surged in value by Rs 7 lakh crore as investors showed confidence in PM Narendra Modi\’s policies and leadership, especially in defence PSUs like Cochin Shipyard and Bharat Dynamics.
GSM Foils Share Price: GSM Foils lists on NSE SME at Rs 32 per share, with healthy IPO response of 250 times subscription. The company manufactures Blister Foils and Aluminium Pharma Foils for pharmaceutical packaging, capitalizing on India\’s robust pharmaceutical industry.
RVNL Share Price: RVNL shares have surged over 1,000% in 2 years driven by strong order inflows and execution. Investors are debating whether to book profits or buy the dip.
SBI\’s market cap surpasses Rs 8 lakh crore as stock surges 10% to hit a 52-week high on exit poll optimism for Modi government\’s return. PSU bank stocks also soar, fueled by anticipation of government-driven growth.
Some large Indian brokerage firms have asked clients to furnish higher margins against trades this week to limit the risk of default ahead of the results of India\’s national elections, due on Tuesday.
Among the top gainers from the pack, Titagarh Rail Systems also hit a 52-week high with RVNL, IRFC, and Jupiter Wagons. Global brokerage CLSA said a favourable BJP outcome would raise investor confidence in India’s economic growth. This could encourage investors to play this growth beyond Modi stocks, which are direct policy plays.
Compared to pre-Hindenburg levels, the stock of Adani Power has soared nearly 220%, while Adani Ports has more than doubled in value. ACC, Adani Enterprises, Adani Green Energy, and Ambuja Cements are also trading above pre-Hindenburg levels.
India VIX plunges 22% as exit polls hint at NDA\’s strong win, boosting market optimism. Analysts anticipate a sustained rally with reduced volatility post-election outcome. Nifty and Sensex hit record highs, signalling bullish sentiment.
The 8.2% FY24 GDP growth reflects a modest deceleration from 3QFY24 at 8.6%. Real gross value added growth slowed considerably in 4QFY24 to 6.3% from 8.3% in 1QFY24.
Now, whether you buy today at 23,800 and see a 700-800-point correction during the month that is very much on. But at least start to increase your exposure to equity because there may be no big opportunities until the budget.