Sensex and Nifty snapped a 5-day losing streak, closing higher by 75 points and above 22,500 respectively. Value buying was seen in banking and oil shares.
The Indian rupee plunged 20 paise to settle at 83.49 against the USD due to volatile domestic markets and increased month-end dollar demand.
May 30, 2024
Sensex dropped 617 points, giving up 74K level, with BSE midcap and smallcap indices falling over 1% each.
June 3, 2024
Sensex and Nifty surged over 3% ahead of election results, with exit polls predicting BJP-led NDA win.
Global Markets
S&P 500: Closed at 5,283.40 (+0.11%)
Dow Jones: Closed at 38,571.03 (-0.30%)
NASDAQ: Closed at 16,828.67 (+0.56%)
FTSE 100: Closed at 8,239.10 (-0.29%)
Nikkei 225: Closed at 38,804.50 (-0.35%)
DAX: Closed at 18,495.25 (-0.62%)
Sector Performance
Top Performing Sector in 2023: Technology (+56%)
Nvidia stood out with 239% returns driven by AI chip demand
Worst Performing Sector in 2023: Utilities (-10%)
Impacted by high interest rates and less attractive yields
Economic Indicators
April 2024 Core PCE inflation rose 2.8% year-over-year, slowest pace of the year
Q1 2024 GDP grew at 1.3%, slowest growth in almost 2 years
US Consumer Confidence rose to 102.0 in May 2024 from 97.5 in April
Upcoming CPI report for April 2024 expected to show continued elevated inflation around 0.3%
Earnings Reports
Amazon (AMZN) earnings expected on Aug 1, 2024. Market cap $1.93T
Tesla (TSLA) earnings expected on July 17, 2024. Market cap $559B
Microsoft (MSFT) earnings date not provided but closely monitored
