Market Updates as of June 3, 2024
Adani Green Energy
Adani Green is currently trading at ₹2,042.05 as of 3:30 PM IST, reflecting a 7.01% increase from the opening price of ₹2,125.00. The stock experienced fluctuations, reaching a high of ₹2,174.10 and a low of ₹1,950.10 during the day. Trading volume surged by 427.92% compared to the previous day. Analysts attribute this rise to positive market sentiment.
Adani Wilmar
Adani Wilmar's share price is up for the day, trading at ₹369.20 as of 3:30 PM IST, a 3.78% increase from the opening price of ₹351.95. The stock's day's range was between ₹364.10 and ₹383.95. Despite being a relatively new company without a 52-week range, its one-year performance shows a decline of 19.52%.
For more detailed and live updates, you can refer to:
NSE India Adani Wilmar Page: The NSE India page offers detailed information about Adani Wilmar's stock, including live quotes, news, and historical charts.
Reliance Industries Limited (RIL)
Reliance Industries Limited (RIL) is currently showing a positive trend. The stock closed at ₹3,027.75 as of 3:30 PM IST, marking a 5.84% increase from the opening price. Throughout the day, the stock hit a high of ₹3,029.00 and a low of ₹2,918.00. This follows a slight decline of 0.81% on the previous trading day. Analysts believe the price can rise further as it has crossed a key resistance level, suggesting a positive short-term outlook.
State Bank of India (SBI)
As of 3:47 PM IST, the State Bank of India (SBI) share price is ₹909.05, a significant increase of 9.48% from the opening price of ₹863.55. The 52-week high for SBI's share price is ₹2,347.60, with a current market capitalization of ₹8,073,905.2566 crore.
Nifty 50
The Nifty 50 index surged to record highs on June 3, 2024, driven by optimism from exit polls for the recent general elections. The Nifty 50 opened 807 points higher at 23,337.90, reaching a new high of 23,338.70. The Sensex also peaked at 76,738.89. Various sectors, including banking, financial, metal, realty, and oil & gas, saw significant gains. The positive sentiment is attributed to exit polls predicting a win for the NDA government led by BJP, boosting investor confidence in policy stability and economic growth.
Technical Analysis and Outlook:
Despite the overall positive trend, some analysts caution about potential weakness due to the Nifty's decline below its 20-day moving average and a falling Relative Strength Index (RSI), indicating a possible loss of momentum.
The release of India's fourth-quarter GDP data later today could further influence market movements.
Analysts are divided on the near-term direction, with some expecting reduced volatility while others warn of a potential pullback if the Nifty falls below the 22,400 level.
This summary provides a concise and coherent update on the stock market performance of key companies and indices as of June 3, 2024.