Bullish trend persists for 2nd Day, Sensex up 692 pts,Nifty above 22,800

The domestic equity market indices ended gaining nearly half a percent on Thursday, continuing Wednesday’s rebound,after election uncertainty ended on June 4 with the BJP set to return to power, albeit in an alliance. At close,the Sensex was up 692.27 points or 0.93 percent at 75,074.51, and the Nifty was up 201.05 points or 0.89 percent at 22,821.40. Highlights of trade:
●Sensex, Nifty surge over 1% each,
●Nifty PSU Bank and oil & gas sectors rise 4% each,
●Nifty, midcap and smallcap above pre-exit poll level,
●BHEL hits 10% upper circuit on bagging new orders,
●Morgan Stanley maintains an overweight rating on HDFC Life,
●Aimtron Electronics shares debut at a premium of 50%.
HCL Technologies, Shriram Finance, SBI Life Insurance, Tech Mahindra and SBI were the top gainers on the Nifty, while losers included Hindalco Industries, HUL, Asian Paints, Hero MotoCorp and Nestle.
On the sectoral front, except pharma and FMCG, all other sectoral indices ended in the green with PSU Bank, IT, Realty up 3-5 percent.The BSE midcap index gained 2 percent while the smallcap index rose 3 percent.

Rupee Close:
On 06 June'24,the Indian rupee depreciated 10 paise   at 83.47 against the US dollar on Thursday, weighed by dollar demand from local importers and foreign banks even as most of its Asian peers gained. 
Trading Guide: 
Over the past months general elections had been the primary driver for the Indian market,Now the upcoming budget, policies and geopolitical developments will start influencing the markets, say experts.
Market experts have recommended buying these five buy or sell stocks -Zydus Wellness, Vijaya Diagnostic, Axis Bank, LT, and Bandhan Bank.

(Writer is a Finance Research Analyst, based in Gandhinagar, Gujarat)