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Stock Market Update 2024 - HUL Stock Soars 9% Amid Post-Election Surge in Defensive Stock | 5 Dariya News

Stock Market Update 2024
Stock Market Update 2024
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Web Admin

Web Admin

5 Dariya News

05 Jun 2024

Hindustan Unilever Ltd (HUL) shares went up by 9% today, almost reaching their highest levels of the year, due to post-election market changes. Investors are turning to defensive stocks, which are considered more stable during uncertain times.

The 2024 Lok Sabha elections have just finished, and the market is fluctuating as investors adjust to the new political situation. Defensive stocks, like those in the FMCG (Fast-Moving Consumer Goods) sector, are seen as safe options during such times.

About HUL

HUL, a top FMCG company in India, makes and sells many popular consumer products. Investors are buying these essential goods, causing HUL's stock price to rise.

This trend isn't just for HUL. Other FMCG companies, like Dabur India, have also seen big gains recently. Analysts think investors will keep preferring defensive stocks until the market stabilises and the economic outlook becomes clearer.

Today Stock Market Overview

When the market opens in the morning it seems to be volatile, but after some times Share market shows its intention and goes to an uptrend. Many of the experts are saying that the correction in the market happened yesterday and now investors don’t want to miss the opportunity to buy stocks in lower. 

What Next?

The election result based on sentiments of the share market is now over. As the ruling party BJP gets the 241 seats in the election and the current BJP government is in the form of making a government in support with their allies under NDA. 

BJP did not perform as per the exit poll and also was not able to get the majority which is 272 seats. Due to which, forming a government is a little bit tricky for BJP as none of the political parties get the full majority. 

As per the experts, the market will remain unstable till the forming of the stable government. However, BJP announced their oath ceremony on 8th or 9th June 2024, as It’s allies under NDA get the 282 seats which fulfil the eligibility of forming the ruling government.

Due to which, the share market will remain unexpectable till the oath ceremony of NEW PM.

Disclaimer

This article is just for information purposes, we are not giving any financial advice or buy tips on our website. Please do invest your money after getting advice from SEBI registered financial advisors.

 

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