Indian stock markets rebound

5 Jun 2024 , 03:44 PM

On June 5, both Sensex and Nifty surged over 3%, driven by value buying after a nearly 6% drop in the previous session. The Indian benchmark indices recovered some of their prior losses, with Nifty climbing back above 22,600.

All BSE Sensex and Nifty50 stocks closed in the green. The Sensex increased by 2,303.19 points, or 3.20%, reaching 74,382.24. The Nifty rose by 735.80 points, or 3.36%, to 22,620.30. Market breadth was positive, with 2,348 shares advancing, 1,008 shares declining, and 74 shares remaining unchanged.

Sectoral indices saw broad-based gains, with Auto, Bank, FMCG, Metal, Telecom, and Media sectors rising by 4-6%. The BSE Midcap index climbed by 4%, while the Smallcap index gained 3%.

This rebound followed a nearly 6% decline in Nifty and Sensex on June 4, attributed to the BJP-led NDA coalition’s narrow victory in the 2024 national elections.