Stock Market: Sensex And Nifty Rebound With Strong Gains Post Election Fallout

The Indian headline Indices, BSE Sensex and NSE Nifty on Wednesday, June 5 ended the day on a positive note, bouncing back after a bloodbath on June 4 following the Lok Sabha Election 2024 result.

The Indian markets closed in Green with Sensex at 74,382.24, up by 2303.19 points or 3.30 per cent and Nifty at 22,620.35, up by 735.85 points.

The Nifty Bank rose 2,216.00 points or 4.53 per cent, reaching at 49,054.60. Moreover, the Nifty Next 50 surged 2,813.25 points or 4.39 per cent at 66,835.40.

Top 5 Sensex gainer

From the Sensex pack, all the stocks ended on a green note. IndusInd Bank shares surged 7.75 per cent, followed by Tata Steel (6.55 per cent), M&M (6 per cent), Bajaj Finance (5.06 per cent), and Kotak Bank (4.89 per cent).

Top 5 Nifty Gainers

Adani ports shares rose by 7.29 per cent, IndusInd Bank (7.06 per cent), Hindalco (6.46 per cent), Tata Steel (6.32 per cent) and M&M (6.06 per cent).

Global Markets

In the Asian market, Seoul's market closed higher, but Tokyo, Shanghai, and Hong Kong finished lower. European markets were trading up. In the US, markets closed with gains on Tuesday.

Crude Oil

Brent crude, the global oil benchmark, rose slightly to USD 77.61 per barrel, up by 0.14 per cent.

Rupee

The Indian rupee strengthened by 14 paise to close at 83.37 (provisional) against the US dollar on Wednesday.