The Indian stock market rose to the brokerage APP down!
On June 3, the Indian stock market rose sharply, and the Indian Sensex index rose more than 3%, setting a new high in history.The enthusiastic trading market led to the websites and APPs of Zerodha, the largest securities firm in India.
On the same day, the Indian rupee and sovereign bonds also rose.On the news, on June 1, local time, the Indian election voted, and the export polls predicted that Modi was expected to be re -elected for three sessions.The above news caused a wave of many waves in the Indian market.Many foreign -funded analysis agencies have previously predicted that once the election end, the Indian stock market will usher in a rebound on Monday.
Since the beginning of this year, the Indian Sensex Index has risen nearly 6%.From 2016 to 2023, the Indian Sensex Index rose eight consecutive years, during which increased by 177%.
In the market on June 3, the Indian stock market reached a record high, with a maximum increase in the market as high as 3.6%. As of the release of the Indian reporter in India, the Indian Sensex Index rose 3.17%to 76307.18 points.
On the same day, the Zerodha website showed: "503 services are not available. No server can be used to process requests." As far as the number of users is concerned, Zerodha is one of India’s largest brokers.
A spokesperson at the Indian brokerage company Zerodha said that some users cannot access the company’s website and mobile apps, and customers are facing the problem of central deposit authorization services (CDSL) when selling stocks.Essence
The affected traders filed a complaint against interruption on X (formerly Twitter).One trader was frustrated by the collapse of the website. He said on X: "Zerodha controls the market by failing to allow users to cash out profitsSimla Investment!" Another user pointed out that "All DEMAT accounts have experienced CDSL interruption. This is a need to be related.The issue of the authorities investigations.
Zerodha started operations on August 15, 2010, and created a discount brokerage model in India, becoming India’s largest stock agent with subversive pricing models and internal technology.According to the company’s official website, more than 100 million customers pass millions of orders under Zerodha’s investment platform ecosystem every day, accounting for more than 15%of Indian retail transactions.
In January of this year, Zerodha’s CEO and co -founder Ning Kamas was criticized in social media for technical problems.He said that software companies like them cannot make mistakes because their company relies heavily on time and serves a large number of user bases.
On the same day, most of the Asia -Pacific market rose, and the South Korean comprehensive index rose 1.74%to 2682.43 points; the closing of the Nikkei 225 index rose 1.13%to 38923.03 points; the Australian S & P 200 index closed up 0.77%to 7761.00 points.
Earlier, Goldman Sachs increased the 12 -month target point of the MSCI Asia -Pacific index from 580 to 615 in a report.The rise can continue.
The MSCI Asia -Pacific region (except Japan) Index closed at 547.5 last Friday. Goldman Sachs estimates that the index has about 12%of room to rise.The bank maintains a super -match rating of A shares, Japanese stocks, Korean stocks, Indian stock markets and Indonesian stock markets.
The rise of the Indian stock market today is related to the news of the Indian elections.Guoabong Wealth Management
According to Xinhua News Agency, on June 1, local time, the voting phase of the Indian People’s Court’s election in 2024 came to an end.Export polls show that the National Democratic Alliance, led by the Indian People’s Party (Indian Party), will win a majority of seats. The current Prime Minister Narendra Modi is expected to be re -elected to start the third term.
The export polls of the major TV news channels of India and many civil transfer agencies show that the National Democratic Alliance leads the Indian National Development tolerance Alliance led by the Indian National Congress (National Party).More than 350 seats are far exceeding half of the seats.
Although the Indian export polls are sometimes unreliable, they basically accurately predict the overall results of the past three people’s house elections.According to many media, if Modi won again, he will become the first person to re -elected prime ministers after the founding Prime Minister of India, Javahara, Nicru.
The Indian Parliament implements the two institutions, which are divided into the Federal Institute (Parliament’s upper house) and the People’s Court (the lower house of the parliament).The People’s Court election is held every 5 years, and the political party or party alliance that has won a majority of seats in the people’s hospital elections has the right to form the cabinet.The election vote of the People’s Court began on April 19 and was divided into 7 stages. The results were announced on June 4.
Another media said that winning with an overwhelming advantage will enable Modi’s political parties to continue to implement policies that drive the Indian economy, and India’s economic growth has ranked fastest in the world.The expected victory may reinstate foreign investors’ enthusiasm for $ 4.7 trillion in the Indian stock market. The market once surpassed India and Hong Kong this year and became the fourth largest stock market in the world.
Many foreign investment banks point out that Modi’s third term will help ensure the continuity of the policy and boost its economy when seeking to attract global investors.Citi Group and Jeffuri believe that if the export polls are transformed into similar results of the Indian People’s Party when they count on June 4, manufacturing and electric vehicles will become other major winners.
Surendra Goyal, a strategist of Citi Group Co., Ltd., said, "We hope that the government will continue to pay attention to infrastructure, manufacturing, energy and electric vehicles through reform, budget allocation and policy incentives."
Santanu Sengupta, "Overall, most customers we have met in recent months seem to think that political continuity will help a stable macroeconomic environment and sustainable reform."Frequent account deficit and sufficient foreign exchange reserves mean that in most emerging markets, the rupee provides elastic arbitrage in the "long -term strong" US dollar world.In addition, inflation has returned to the target range of Indian Reserve Bank."Our stock strategist continues to see the stock’s further rise," Santanu Sengupta said.
In addition, at noon on June 3rd, S & P announced the HSBC India PMI data reported by it around the world. The data shows that the final value of PMI in the manufacturing industry in India fell from 58.8 in April to 57.5.It has been in the expansion range for three years.The growth rate of production and new orders in May has slowed down, mainly due to the decrease in working hours due to extreme high temperature weather and elections, but the overall growth is still strong.
In contrast to the overall PMI trend, the growth rate of new export orders in India in May has accelerated significantly in May, the fastest growth rate in 13 years, and the growth momentum of 26 months.This growth is due to the growth of customers in Africa, Asia, the Americas, Europe, and the Middle East.
HSBC economists said that India’s economy may continue to benefit from the rise in credit and construction industry.Earlier, India’s GDP increased by 7.8%in the third quarter.HSBC pointed out that the total value -added (GVA) shows the toughness of the construction and financial industry, which may support the economic growth of India’s fiscal year in 2025.
Editor -in -chief: Wang Lulu
School pair: Su Huanwen
Ahmedabad Investment