Stock market surged with advancing stocks, 52-week highs, upper circuits, and bullish sentiment

From Dalal Street Investment Journal (DSIJ): 2024-06-03 10:30:51

The stock market surged with 2,806 advancing stocks, 213 hitting 52-week highs, and 225 in upper circuits on NSE. Exit polls projecting a BJP win in elections fueled unprecedented market rally to new all-time highs. Advancing stocks outnumbered declines significantly with 2,346 vs. 1,615 on BSE. 284 stocks reached 52-week highs, highlighting strong market momentum and optimism among investors. 12 stocks hit upper circuits while 7 hit lower circuits, suggesting bullish momentum. All sectors participated in the rally, with PSU Banks, Oil & Gas, and Metals leading the charge. India’s GDP growth at 8.2% and GST collections rising by 10% in May boosted investor confidence. Market cap reached Rs 4,25,91,511.54 crores, while the Indian Rupee strengthened against the USD. India VIX plummeted by 15% to 20.94, indicating reduced market uncertainty. Overall, the market’s performance signals strong bullish sentiment and widespread investor confidence.



Read more at Dalal Street Investment Journal (DSIJ): Analysing Today’s Advance-Decline and Stocks Hitting 52-Week High and Low!