Banks, infra stocks to lead Indian shares higher as vote count set to begin
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 04 2024
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Should l Buy ?
Source: reuters
- Indian Stock Market: Indian shares expected to open higher due to election results, with banks and infrastructure stocks likely to benefit if Prime Minister Modi returns to power.
- Market Performance: Nifty 50 and Sensex surged after exit polls projected a majority for the ruling party, marking their best session in nearly 40 months.
- Counting of Votes: Vote counting to start at 8:00 a.m. IST, with public sector enterprises, state-run banks, infrastructure, and realty stocks surging on hopes of policy continuity.
- Market Outlook: Analysts anticipate the rally to continue for a few more sessions, expecting sustained growth based on actual election results.
- Investor Activity: Foreign investors and domestic institutional investors were active, with foreign investors buying shares worth $824.4 million and domestic institutions purchasing stocks worth $253.3 million.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
