Sensex Today | Nifty 50 Today | Stock Market LIVE Updates: Opening Bell: Sensex Crashes Over 800 Points, Nifty Opens Below 23,100 Amid Weak Global Cues
Sensex Today | Nifty 50 Today | Stock Market LIVE Updates: After the weekend break, Dalal Street reopens on Monday, June 8, in red. The Sensex crashed over 800 points while the Nifty 50 opened below 23,100 amid weak global cues. Investors are trying to balance optimism over domestic developments against a backdrop of global uncertainty. The RBI’s surprise decision to hold the repo rate unchanged at 5.25% provides a base to sentiment, but geopolitical flare-ups in the Middle East and a sharp fall in the US tech stocks and weakness in Asian markets are making the traders anxious at the start of the week.
Early trends indicated that the trading session will be a volatile one. The GIFT Nifty was trading at 23,194, higher by 96.50 points, or 0.42%, at 8:35 AM, and the Indian rupee has also opened weaker by 35 paise at 95.31 against the dollar. The crude oil prices have shot up post the latest tiff between Iran and Israel.
Technically, Nifty is at a crossroads, and the 23,300 level remains a crucial support level, while the low of 23,151 recorded last week would be the critical point of failure for bulls, and a breach of it could drag Nifty toward the 22,800-22,700 region. On the resistance side, Nifty faces a hurdle near 23,500 levels, making the day’s trading session very important to determine the direction of the markets.
Bank Nifty continues to show relatively good strength post the RBI-fuelled move last week, but the overall market sentiment will be dictated by the investors’ reactions to the global cues and the institutional buying.
Will RBI’s supportive stance and strong banking counters negate the effect of the weak global cues and bring down the Indian indices, or will the rising crude oil prices and geopolitical tensions drag the markets lower?
Keep watching for all the latest market action, top gainers/losers, expert views and breaking news all through the trading hours.
Opening Bell: Sensex opened 822 points lower at 73,421.61, while Nifty slipped below 23,100 amid weak global cues, rising crude oil prices and heightened geopolitical tensions in West Asia.
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Stocks To Watch Today: Dalal Street is likely to have a cautious start to the week as rising tensions between Israel and Iran continue to rattle the global markets. The GIFT Nifty points to a sharp gap-down opening, and higher crude oil prices and geopolitical uncertainty will keep investors cautious. Several stocks could witness action today on the back of stake deals, fundraising plans, project updates and other key corporate developments in the weak market mood. Adani Enterprises, Adani Energy Solutions, Tata Motors, LIC, Zed Entertainment, NTPC, Rajesh Exports and H.G. Infra Engineering are among the stocks that could see...
Stock Market Outlook Today: The Indian stock market is expected to open volatile on June 8, Monday, with investors grappling between the favourable policy tone of the RBI and cautious global signals. The GIFT Nifty indicated a positive opening for the domestic equity market as it traded higher, but the steep selloff in the global markets and rising geopolitical tensions in the Middle East will keep the traders at the edge for the most part of the trading day. The decision of the RBI to maintain the repo rate at 5.25% and the cautious-to-dovish stance were supportive for the sentiment,...