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What happened in the Indian stock market today?

On June 5, 2024, the Indian stock market rebounded after significant losses.

The BSE Sensex rose 3.20%, or 2,303.19 points, to 74,382.24, while the NSE Nifty increased by 3.36%, or 735.85 points, to 22,360.25.

This comeback came as investors processed the Lok Sabha election results and refocused on market fundamentals. Comments from top brokerage firms indicated that the election outcome was a short-term trigger with no long-term impact. 

The previous day’s market decline provided a buying opportunity, supported by India’s strong macroeconomic foundations, robust domestic investment, and potential rate cuts later this year.

Impact on the stock market

All sectoral indices ended with strong gains on the NSE. Nifty Metal and Private Bank indices surged over 5% each, while Nifty Bank, Auto, Financial Services, and FMCG indices jumped over 4% each. Other sectoral indices also rose up to 3%.

Information Technology+2.39%
Oil & Gas+2.18%
PSU Banks+2.88%

NSE top gainers today

CompanyPriceChange (%)
Adani Ports share price1,354.60+8.46%
IndusInd Bank share price1,500.95+7.87%
Hindalco share price695.25+7.12%
Hero Motocorp share price5,658.50+6.55%
M&M share price2,740.95+6.53%

NSE top losers today

CompanyPriceChange (%)
Bharat Dynamics share price1,305.25-9.16%
Garden Reach share price1,180.15-7.49%
Cochin Shipyard share price1,684.55-7.02%
TITAGARH share price1,120.10-6.44%
Data Patterns share price2,475.85-5.42%

Market aftermath: Impact on stocks today

Adani group stocks rebound 

Adani Group stocks rebounded on June 5 after the Lok Sabha election results. Adani Enterprises shares rose 2% to ₹2,996.45 after a 19.3% drop on Tuesday. Adani Ports climbed 2% to ₹1,274.25 after a 21% fall. 

Adani Green Energy jumped 5.5% to ₹1,736.5 after a 19.2% decline. Adani Wilmar gained 1% to ₹335, while Adani Total Gas increased 0.65% to ₹914.60. Adani Power and Adani Energy Solutions continued to decline, losing 6% and 4.3%, respectively.

Angel One surges over 6%

Shares of Angel One surged over 6% to ₹2,406 on June 5 following a strong May business update. The broking firm’s client base increased by 63.3% YoY to 23.8 million. 

Despite this growth, Angel One’s shares have declined over 33% this year, underperforming the Nifty 50’s 3% rise. The average daily orders (ADO) reached ₹7.56 million, up 11.6% MoM and 83.5% YoY. Gross client acquisition in May 2024 was 0.88 million, up 91% YoY.

Nazara Tech shares rally 6%

Nazara Tech shares climbed 6% to ₹723 on June 5 after its subsidiary, Absolute Sports, acquired SoapCentral.com assets for ₹11.6 crore. The entertainment publishing market is twice the size of sports publishing, providing a significant growth opportunity. 

Despite a net profit drop to ₹0.18 crore in Q4 due to discontinued operations, Nazara’s shares have risen 15% this year. 

Crude oil futures dip

Crude oil futures edged down on Wednesday morning due to increased US inventories. At 9:12 am, August Brent oil futures were at $77.50, down 0.03%, and July WTI crude futures were at $73.19, down 0.08%. 

June crude oil futures on MCX traded at ₹6,123, down 0.71% from the previous close of ₹6,176, while July futures were at ₹6,134, down 0.68%.


In conclusion, the Indian stock market saw a significant rebound on June 5, 2024, with major indices recovering from previous losses. 

Adani Group stocks and Angel One led the gains, while Nazara Tech’s acquisition news boosted its shares. Despite a dip in crude oil futures, the market’s overall optimism reflects confidence in India’s strong economic fundamentals. 

Stay tuned for more updates on StockGro!

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