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Equity Market Surge Post Election Results | Baroda BNP Paribas Mutual Fund

Equity Market Surge Post Election Results

This week, Indian equities ended on a positive note, driven by investor optimism regarding political stability and policy continuity under the new coalition government. The Nifty 50 Index, Nifty Midcap Index, and Nifty Small Cap 250 gaining approximately 3.4%, 2.9%, and 3.0%, respectively.

Sectoral indices mirrored this positive sentiment. Almost all stocks in the four-wheeler, two-wheeler, and auto ancillary sectors were in the green, providing much-needed respite to investors after June 4. The Nifty Auto, Nifty FMCG, and Nifty IT sectors saw substantial gains, rising by 6.8%, 7.11%, and 8.60%, respectively. In contrast, the Nifty Metal and Nifty Oil & Gas sectors lagged with returns of 1.13% and 0.62%, respectively, while the Nifty PSU Bank index closed negative with a loss of 1.41%.

Globally, Wall Street stocks ended positive, with the S&P 500 and Nasdaq rising by 2.6% and 1.4%, respectively, due to strong earnings from Big Tech companies and fresh U.S. inflation data. The Dow Jones ended flat with a marginal gain of 0.5%. In the UK, the FTSE declined by 0.34%, impacted by PMI figures indicating a slowdown in services activity and uncertainty ahead of general elections.

In Asia, the Nikkei 225 Index ended flat for the week. However, other Asian markets showed gains, with the Kospi up by 3.3% and the Hang Seng Index rising by 1.6% as investors awaited Chinese trade data and anticipated potential rate cuts by the U.S. Federal Reserve following a weak U.S. payroll report. Conversely, the Shanghai Composite Index experienced a substantial fall of 1.5%.

Other Markets:

Brent crude prices closed at $ 79.80.

The rupee depreciated further to settle at Rs 83.47 against the US dollar.

Gold prices went down slightly to settle at Rs 71,748 per 10 grams.

The 10 Year Benchmark G-Sec yield was at 7.02% compared to its last Friday close of 6.98%.

Source: www.nseindices.com; google finance, MCX Gold Prices; www.rbi.org.in; Morningstar and tradingeconomics.com

Data for week ended on June 07, 2024. ^ data for the week (Fri – Thu) FTSE data as of today 1 pm.


The views and investment tips expressed by experts are their own and are meant for informational purposes only and should not be construed as investment advice. Investors should check with their financial advisors before taking any investment decisions.

The word ‘more’ does not imply more returns or assurance of scheme performance.it refers to the additional value provided by the joint venture, as compared to Baroda AMC and BNP Paribas AMC individually.

In the preparation of the material contained in this document, Baroda BNP Paribas Asset Management India Ltd. (“AMC”) (formerly BNP Paribas Asset Management India Private Limited) has used information that is publicly available, including information developed in-house. The AMC, however, does not warrant the accuracy, reasonableness and/or completeness of any information. This document may contain statements/opinions/ recommendations, which contain words, or phrases such as “expect”, “believe” and similar expressions or variations of such expressions that are “forward looking statements”. Actual results may differ materially from those suggested by the forward looking statements due to risk or uncertainties associated with our expectations with respect to, but not limited to, exposure to market risks, general economic and political conditions in India and other countries globally, which have an impact on our investments, the monetary and interest policies of India, inflation, deflation, unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices, etc. The AMC (including its affiliates), Baroda BNP Paribas Mutual Fund (“Mutual Fund”), its sponsor / trustee and any of its officers, directors, personnel and employees, shall not be liable for any loss, damage of any nature, including but not limited to direct, indirect, punitive, special, exemplary, consequential, as also any loss of profit in any way arising from the use of this document in any manner. The recipient alone shall be fully responsible / liable for any decision taken based on this document. All figures and other data given in this document are dated and may or may not be relevant at a future date. Prospective investors are therefore advised to consult their own legal, tax and financial advisors to determine possible tax, legal and other financial implication or consequences of subscribing to the units of the schemes of Baroda BNP Paribas Mutual Fund.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

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Scheme Riskometer**

**basis portfolio of the Scheme as on June 30, 2024


*Investors should consult their financial advisers if in doubt about whether the product is suitable for them

Benchmark Riskometer**

**Basis constituents of the scheme as on June 30, 2024


*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


*The PRC matrix denotes the maximum risk that the respective Scheme can take i.e. maximum interest rate risk (measured by MD of the Scheme) and maximum credit risk (measured by CRV of the Scheme)

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