Stock Market Opening Bell: Sensex Rose 0.23%, Nifty 50 Surged 0.45% - Here's Why

Stock Market Opening Bell: The benchmark stock market indices Sensex, and Nifty 50 opened higher on Monday, June 1, tracking positive cues such as the start of the four-day long India-US trade negotiations.

While Sensex opened 0.23% higher at 75203.00 level, Nifty 50 surged 0.45% to 23,654.50 level. 

However, the trends on Gift Nifty had signalled a gap down start for the Indian benchmark bourses. The Gift Nifty was trading around 23,726 level, nearly 22 points lower from the Nifty futures’ previous close.

On Friday, the Indian stock market ended sharply lower due to sudden selling during the end of the trading session, with the benchmark Nifty 50 declining below 23,600 level.

The Nifty 50 ended 1.50%, lower at 23,547.75, while Sensex closed 1.44% down at 74,775.74,

Stocks In Focus

IndiGo

india's low cost passenger carrier IndiGo posted a net loss of Rs 2,536.3 crore in the fourth quarter as compared to Rs 3,067.5 crore in the corresponding period last year, as weaker operating performance and exceptional charges of ₹250 crore weighed on earnings.

PB Fintech

PB Fintech saw a block deal worth nearly Rs 665 crore on Friday, as co-founders Yashish Dahiya and Alok Bansal offloaded shares to a group of domestic and international institutional investors.

Also Read: Centre Cuts Export Tax On Petrol, Diesel, ATF From June 1 Amid Iran War

Lupin

In a bourse fling, the pharmaceutical company announced that it has secured approval from the US Food and Drug Administration (US FDA) for its Sodium Sulfate, Magnesium Sulfate, and Potassium Chloride tablets.

Patanjali Foods

Patanjali Foods reported a 46% year-on-year (YoY) surge in net profit for the March quarter, driven by robust growth in its edible oils and FMCG segments. However, elevated raw material and packaging expenses put pressure on margins.