Sensex Today | Nifty 50 Today | Stock Market LIVE Updates, June 2: Nifty Falls Below 23,300, Sensex Drops Over 400 Points At Open
✍️ Written by: Priyanka Roshan
Sensex Today | Nifty 50 Today | Stock Market LIVE Updates, June 2: Nifty Falls Below 23,300, Sensex Drops Over 400 Points At Open
Good morning, readers, and welcome to our stock market LIVE coverage on June 2.
On June 2, Dalal Street had opened with a weak note, with Sensex dropping more than 400 points and Nifty below the 23,300 mark.
GIFT Nifty was seen trading at 23,245.5 levels at 7:38 AM, down by 196 points, or 0.84%, which suggests a flat-to-negative opening for the Sensex and Nifty 50.
Markets enter today’s session on the back of another weak close. Indian stocks slipped for a fourth straight session on June 1, as the Sensex fell 508.4 points, or 0.68%, at 74,267.34, and the Nifty slipped 165.15 points, or 0.70%, at 23,382.60. It was trading at levels below 23,400, signalling cautiousness among investors.
Today’s session is very important, as it is the weekly expiry option of the NSE contracts. Traders will be keeping an eye on a rebound in the Nifty or whether more selling pressure forces it lower after it failed to defend the 23,500-level on Monday. All eyes will be on technical support and resistance levels and events across the globe.
Some stocks most likely to be in focus include Ola Electric, Wipro, NHPC and Mahindra & Mahindra on fundraising plans, acquisitions, stake sales and strong monthly sales data. IT stocks will also be watched for support after the sector helped cushion broader market weakness in recent sessions.
Stocks rallied on Wall Street overnight, with technology companies at the forefront of the gains. The AI revolution seems to be what investors were pinning their hopes on. But Asian shares slumped at the start of trade today as Middle East tensions continue to escalate. Global oil prices edged over 1% higher on concerns over supply chain disruption, extending a rebound from the largest one-day jump in more than a month. Inflation along with the geopolitical risks remains a focus.
Stay tuned to get all the latest stock market news and LIVE action from Dalal Street throughout the trading day.
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