Nifty 50, Sensex Today: What to Expect from Indian Stock Market in Trade on June 10 After Narendra Modi Sworn in as PM

Nifty 50, Sensex Today: What to Expect from Indian Stock Market in Trade on June 10 After Narendra Modi Sworn in as PM

Keywords: Nifty 50, Sensex, Indian Stock Market, Narendra Modi, Prime Minister

New Delhi, June 10: The Indian stock market is expected to open higher today after Narendra Modi was sworn in as Prime Minister for a second term on Thursday. The Nifty 50 and Sensex are likely to trade in the green today, tracking positive cues from the global markets.

On Thursday, the Nifty 50 closed at 12,066.50, up 1.26%, while the Sensex closed at 40,543.32, up 1.23%. The Indian rupee also strengthened against the US dollar, closing at 69.92.

Analysts expect the Indian stock market to continue its upward trajectory in the coming days. “We expect the rally to continue in the near term, with the Nifty 50 heading towards 12,500 levels,” said Gaurav Dua, Head of Capital Market Strategy at Sharekhan.

The Indian stock market has witnessed a bullish trend since the results of the Lok Sabha elections were announced on May 23. The Nifty 50 and Sensex have both gained over 10% since then.

The market is also likely to react to the Reserve Bank of India’s (RBI) monetary policy meeting, which is scheduled to be held on June 6. The RBI is widely expected to cut interest rates by 25 basis points, which would be a positive for the stock market.

Overall, the Indian stock market is expected to have a positive start to the day today. Investors are likely to bet on the prospects of a stable government led by Narendra Modi.