On Friday, May 31, the Indian stock market benchmarks—Sensex and Nifty 50—ended with modest gains, breaking a five-session losing streak. Investors are now keenly watching the final phase of the General Election 2024, set to take place on Saturday, June 1, with exit poll results expected soon after.
#### Key Election Dates
– **Final Phase of Voting:** June 1, 2024
– **Vote Counting:** Commences on June 4, 2024
– **Results Announcement:** Expected later on June 4, 2024
While many experts anticipate the BJP-led NDA to secure re-election for another five years, there is no clear consensus on the exact number of seats they might win.
#### Market Sentiment
Recently, the domestic stock market has faced pressure due to several factors, including:
– Nervousness related to the upcoming Lok Sabha election
– Significant capital outflows by foreign institutional investors (FIIs)
– Mixed global market signals
– Reduced expectations of rate cuts
– Concerns over geopolitical tensions
#### Market Performance
Despite these concerns, there was some buying interest on Friday, with both the benchmarks and the broader midcap and smallcap indices ending in the green:
– **Sensex:** Gained 76 points (0.10%), closing at 73,961.31, with 15 stocks rising.
– **Nifty 50:** Rose 42 points (0.19%), finishing at 22,530.70, with 26 stocks advancing.
The BSE Midcap index showed a slight increase of 0.06%, while the Smallcap index experienced a more robust rise of 0.76%.
#### Market Capitalization
The total market capitalization of companies listed on the BSE increased significantly, climbing to approximately ₹412.2 lakh crore from ₹410.4 lakh crore in the previous session. This rise added about ₹1.8 lakh crore to investors’ wealth in just one trading session.
In summary, the Indian stock market saw a welcome rebound on Friday, with gains across major indices as investors remain focused on the upcoming election results and potential political outcomes.
