Stock Market LIVE: Stellar start on cards on robust GDP, exit poll outcome; GIFT Nifty

Stock Market LIVE on Monday, June 03, 2024: Indian stock markets may witness a strong opening on Monday following the release of exit polls, which predict a strong victory for the NDA coalition, coupled with robust Q4FY24 GDP data. India’s Q4 GDP grew 7.8 per cent, beating estimates. While, the FY24 growth stood at 8.2 per cent.  

At 6:56 AM, GIFT Nifty futures indicated a bumper opening, trading 643 points up at 23,343 compared to Nifty futures.

Across the Asia-Pacific region, markets are bustling ahead of China’s manufacturing data release. Korea’s Kospi leads with gains of 1.49 per cent, followed by Japan’s Nikkei, which surged 1.13 per cent, and Australia’s ASX200, trading 0.82 per cent higher.

On Friday, US markets closed higher, with the Dow Jones and S&P 500 settling 1.51 per cent and 0.80 per cent higher, respectively. The Nasdaq, however, saw a marginal decline of 0.01 per cent.

Back home, all eyes are on the Lok Sabha election results, which will be announced on June 04. Meanwhile, foreign institutional investors (FIIs) bought shares worth Rs 1,613.24 crore, while domestic institutional investors (DIIs) continued their buying streak, purchasing shares worth Rs 2,114.17 crore on May 31.