Good morning, readers!
Dalal Street opened Wednesday’s session in the red as investors turned cautious ahead of the RBI MPC meeting. As of 7:40 am IST, the GIFT Nifty was trading with a loss of 12 points, or 0.05%, at 23,480.5. A cautious outlook means that the investors are waiting and watching for the Reserve Bank of India (RBI) Monetary Policy Committee (MPC) to start its meeting.
Nifty 50 broke a four-day losing streak and ended the day on Tuesday with gains of about 0.4% aided by strength in select sectors. Though the overall market sentiment has turned positive, ahead of the RBI policy decision, traders are likely to take selective bets on stocks rather than aggressive ones.
NHPC, Canara Bank, Adani Ports, Restaurant Brands Asia and a few others are likely to be in focus in today’s session.
Follow this stock market live blog for LIVE updates on the stock market throughout the day.
ByteDance founder Zhang Yiming surpasses Mukesh Ambani to become Asia’s second-richest billionaire with a $92.8 billion fortune, according to the Bloomberg Billionaires Index.
Read more here.
Stock Market Today, June 3: The Sensex tumbled over 700 points while the Nifty slipped below 23,300 at the opening bell as IT stocks led losses ahead of the RBI MPC meeting. Realty and banking shares also remained under pressure.
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BSE in pre-open market today:
| Index | Level | Change | Change (%) |
|---|---|---|---|
| BSE Sensex | 74,507.73 | -142.11 | -0.19% |
| BSE Bankex | 60,483.64 | -59.84 | -0.10% |
| BSE Focused IT | 37,090.16 | -347.22 | -0.93% |
Stocks to watch today: Canara Bank, Wipro, Adani Ports, Hero MotoCorp, Concord Biotech and Dhanuka Agritech amid key deals, approvals and updates.
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Stock Market Today: Indian share markets are likely to be stock-specific on Wednesday, June 3, as investors await the Reserve Bank of India’s Monetary Policy Committee (MPC) meeting opening alongside key global events. Traders will be watching geopolitical tensions, surging crude oil prices, and the US-Iran situation after breaking a four-day losing streak on Tuesday.
Read more here.
