UPS Financial News

Tube Investments of India Ltd. fell 1.12 per cent to Rs 3796.5 at 11:41AM hours (IST) on Tuesday. Earlier in the day, the stock saw a gap up start to the session. As per data available on BSE, total traded quantity on the counter stood at 10,771 shares with a turnover of Rs 4.07 crore till 11:41AM (IST). The stock traded at a price-to-earnings (P/E) multiple of 60.72, while the price-to-book value ratio stood at 18.18.

Sensex and Nifty tanked nearly 4% to the day's low of 73,659.29 and 22,389.85 respectively on Tuesday, with early trends suggesting a fightback by the India alliance albeit a majority mark for the NDA alliance, certain sectors managed to hold themselves as others witnessed a free fall. While Sensex slipped from Monday's closing of 76,468.78 by 2809 points on the intraday basis, the broader Nifty witnessed an 874 point fall to 23,263.90.

Trent Ltd. slipped 2.44 per cent to Rs 4549.95 in Tuesday's trade as of 11:26AM (IST). The stock hit a high price of Rs 4679.95 and low of Rs 4495.0 during the session.

UP Election Results 2024: The vote counting for the Lok Sabha Elections 2024 began at 8 am on Tuesday. As per the early trends, INDIA bloc is giving neck-to-neck competition to BJP-led NDA alliance in the state.

Stock Market News: The domestic benchmark indices, the Sensex and Nifty 50, opened Tuesday's trading day down due to the persistent trends from the Lok Sabha election. The market reached an all-time high on Monday, with notable gains and no losses, before this decline.The Nifty 50 opened at 22,855.55, down 408.35 points from the opening bell, while the Sensex fell 1,135.48 points to 75,333.30.

India Today show. Vote counting for the 2024 Lok Sabha election results commenced at 8 am. The Hyderabad constituency participated in the fourth phase of polling on May 13.From the Hyderabad constituency, sitting Member of Parliament (MP) and AIMIM chief Asaduddin Owaisi is up against the Bharatiya Janata Party (BJP) candidate Madhavi Latha.

Andhra Pradesh Election Results 2024: The Telugu Desam Party (TDP) is currently leading in 14 Lok Sabha seats, while the Yuvajana Sramika Rythu Congress Party (YSRCP) trails with 4 seats as the counting for the Lok Sabha Elections 2024 begins.These elections, held alongside the state Assembly polls on May 13, witnessed a substantial voter turnout of 80.66 per cent, reflecting the electorate's high engagement.Prime Minister Narendra Modi's active involvement, including a meeting with TDP chief N Chandrababu Naidu during his nomination filing in Varanasi, underscored the significance of these elections. The NDA coalition, comprising the TDP, BJP, and Jana Sena Party, fielded candidates across the state, highlighting their job creation agenda and critiquing the current state's governance.The YSRCP, which contested all 25 Lok Sabha seats, focused its campaign on the welfare measures implemented over the past five years.

Bharatiya Janata Party, early trends show that INDIA bloc is currently leading in the biggest state of India.

Opposition coalition of parties led by the INDIA bloc was trailing once again in Uttar Pradesh with around 39 seats while the NDA was leading with 40 seats, as per early trends around 9:50 am.

China's factory activity grew the fastest in about two years in May due to production gains and new orders, particularly at smaller firms, a private sector survey showed on Monday, lifting the outlook for the second quarter.

investors chose to adopt a risk-averse stance ahead of the announcement of Lok Sabha election results later in the day, Sensex opened over 1,600 points lower on Tuesday, dragged by heavyweights Reliance Industries, and financial stocks. As of 9:50 am, the BSE Sensex was trading 1,700 points, or 2.09%, lower at 74,867.26. The Nifty50 was down 509.60 points, or 2.19%, trading at 22,754. Volatility gauge India VIX also spiked 20% to 25 levels.

US PMI data, gold August futures at MCX opened flat at Rs 72,160 per 10 grams down by 0.06% or Rs 43, while silver July contracts stood at Rs 92,099/kg, up 0.07% or Rs 66. Domestic markets settled on a positive note. Gold August futures contract settled at Rs72,203 per 10 grams with a gain of 0.51% and silver July futures contract settled at Rs92,033 per kilogram with a gain of 0.51%.

«But if you are an investor, then you have to take a three- to five-year view. What I like is that if Prime Minister Modi wins then that is just a validation of the political stability, which is a precursor to economic growth,» says Manish Singh, Market Expert. Do you think the fundamentals are strong enough to kind of take these markets further ahead, what is your opinion? I do agree with Mr Subramanyam that it depends upon what sort of investor you are. And with any trade, the key thing is your investment horizon and that pretty much dictates your risk reward that you are going to look at. If you are of trader mentality, you believe that there is going to be a volatile outcome either way, then you benefit from it, so that is one trade one can think of. I do not recommend that because I am a more medium-term investor. But again, if you are a trader, then you can put those trades and benefit from that.

Government bond yields closed at their lowest levels in more than two years, and the rupee logged its largest single-day gain since December, as exit polls predicted a strong victory for the ruling National Democratic Alliance (NDA) in the general elections, kindling expectations of policy continuity. Yield on the 10-year benchmark government ended the day's trade at 6.9438%, its lowest closing level since April 7, 2022, LSEG data showed. The bond had closed at 6.9860% on Friday. Bond prices and yields move inversely. A fall in government bond yields makes it cheaper for companies to raise funds through debt as sovereign bond yields are the pricing benchmarks for corporate debt.

rally, taking heart from the exit polls which have predicted a massive mandate for the Modi government once again. In today's trade, shares of ZEE, M&M Financial, Dr Reddy's, Wipro, Biocon among others will be in focus today due to various news developments. ZEE

Indian equities soared to new closing highs, the rupee firmed up and bond yields fell to two-year lows on Monday as investors cheered the likelihood of the Bharatiya Janata Party (BJP) returning to power with a strong majority, based on exit poll numbers. The benchmark indices jumped over 3% each, the biggest single-day gain in four years, while the Volatility Index (VIX) — the market's fear gauge — plunged 14.9% a day before votes are counted Tuesday. Whether the bullish momentum continues over the next few trading sessions will depend on how many seats the BJP-led coalition gets. Investors should brace for a brief reversal if the results aren't aligned with exit poll predictions, analysts said. «Given that the exit poll trends translate into results on Tuesday, a continuation of the relief rally can happen, with the market (Nifty) touching 23,500 briefly before profit booking takes over,» said Venugopal Garre, managing director, Bernstein, in a note to clients. «A greater margin of victory — with seats going into the 380-390 or above range — can increase the magnitude but not the duration of the rally.»

Total Seats With 40 seats up for grabs, the stakes are high for political parties in Bihar. These seats play a crucial role in determining which party or coalition will achieve the 272-majority mark out of the 543 seats needed to form the central government.Key candidates The Bihar Lok Sabha Election 2024 features key candidates from major political parties, all vying for victory in their respective constituencies.

Rahul Gandhi Election Results 2024 LIVE Updates: The Lok Sabha election 2024 results of the UP's Raebareli and Kerala's Wayanad constituencies will be declared today, June 4. The counting of votes polled in Raebareli and Wayanad Lok Sabha constituencies, where Rahul Gandhi fought as the Bharatiya Janata Party (BJP) candidate, will be counted from 8 am onwards.

Bangalore, Karnataka Election Results 2024 Live Updates: The Election Commission (EC) of India administered the 18th general elections this year in 543 constituencies in seven phases that began on April 19 and concluded on June 1. Meanwhile, the Lok Sabha elections in 28 seats of Karnataka were held in the second and third phases on April 26 and May 7. In Karnataka, five seats are reserved for SC candidates and two for ST candidates.Bengaluru, the capital city of Karnataka and the IT hub of India, comprising four Lok Sabha seats, went to polls on April 26.

Narendra Modi, Varanasi Election Results 2024 LIVE: The Lok Sabha election 2024 results of the Varanasi constituency will be declared today, June 4. The counting of votes polled in Varanasi Lok Sabha constituency, where Prime Minister Narendra Modi fought as the Bharatiya Janata Party (BJP) candidate, will be counted from 8 am onwards.

TN Election Results 2024 Live Updates: The counting of votes will soon begin in Tamil Nadu to declare the verdict for the Lok Sabha polls conducted in the state in a single phase on April 19 to elect 39 members in the Parliament.