Market Indices

FTSE 100

• Closing Price: 8,208.83
• Daily Change: +17.54 (+0.21%)

Nikkei 225

• Closing Price: 38,570.76
• Daily Change: +88.65 (+0.23%)

Sector Performance

Top Performing Sectors

1. Financials (Outperform) - Trailing 12M Performance: +33.1%
2. Energy (Outperform) - Trailing 12M Performance: +16.6%
3. Materials (Outperform) - Trailing 12M Performance: +22.5%

Worst Performing Sectors

1. Real Estate (Underperform) - Trailing 12M Performance: +10.0%
2. Consumer Discretionary (Underperform) - Trailing 12M Performance: +23.3%

Economic Indicators

Inflation

• US annual inflation rate decreased from 3.4% in April to 3.3% in May 2024

Consumer Confidence

• CB Consumer Confidence Index 102.0 in May 2024 (forecast 96.0)

Unemployment

• Rate ticked up to 3.9% in May 2024

Interest Rates

• 73.2% chance of Fed rate cut by September 2024

Earnings Reports

S&P 500 Q1 2024 Earnings

• Earnings growth rate: 8.0% (estimate 5.0%)
• Adjusted earnings growth: 11.2%
• 78.3% beat analyst expectations
• Forward P/E ratio: 20.6x (86th percentile)

Upcoming Earnings

• Darden Restaurants expected EPS $2.62, revenue $2.98B

Top Gainers & Losers

Nifty Index

• Top Gainers: HDFC Bank, Axis Bank, ICICI Bank, Kotak Mahindra Bank, Indusind Bank
• Top Losers: Titan Company, Larsen & Toubro, Maruti Suzuki India, Bharti Airtel, Hindalco Industries

BSE

• Top Gainers: Alok Industries, Jubilant Ingrevia, Shree Renuka Sugars, Rashtriya Chemicals & Fertil, Chambal Fertilisers & Chemical
• Top Losers: Sobha, ZF Commercial Vehicle Control Systems India, KEI Industries, Mazagon Dock Shipbuilders, Clara Industries

NSE

• Top Gainers: Jubilant Ingrevia, Alok Industries, Triveni Engineering & Indus, Shree Renuka Sugars, Rashtriya Chemicals & Fertil
• Top Losers: ZF Commercial Vehicle Control Systems India, KEI Industries, Mazagon Dock Shipbuilders, Endurance Technologies, JK Paper

Focus Stock: Tesla Inc. (TSLA)

• Sector: Consumer Durables, Motor Vehicles
• Current Price: $184.86 (After-Hours: $184.68)
• P/E Ratio: 47.24x
• EPS: $0.345
• Q1 2024 Revenue: $21.30B
• Q1 2024 Net Income: $1.17B
• 52-Week Range: $138.80 - $299.29
• Market Cap: $589.55B
• No Dividend Yield

Analyst Recommendations

Microsoft (MSFT)

• Target Price: $600 (Truist, potential 34.4% upside)
• Rating: Buy (Truist)

Amazon (AMZN)

• Target Price: $245 (Tigress, potential 34% upside)
• Rating: Buy (Tigress)

Alphabet (GOOG)

• Avg Target: $198 (78 Buys, 16 Holds, 0 Sells in last 3 months)

Apple (AAPL)

• Avg Target: $204.8 (Outperform)

Market Highlights

• Sensex, Nifty ended flat, bank stocks shined
• Indian Oil-GPS Renewables JV for sustainable energy
• Blue Dart started drone deliveries with Skye Air
• Nifty Bank +2.04%, Nifty Private Bank +2.14%
• Cotton area shrank in Kharif 2024 as farmers shifted crops
• LIC HFL offered 35% processing fee discount for home loans
• Top gainers: HDFC, Axis, Kotak; Losers: Titan, L&T, Hindalco
• SBI chief sought tax relief on interest income for savings
• Ebix deal for Vikas Lifecare acquisition approved
• WABCO Asia sold 7.5% stake in ZF Commercial Vehicle