Sensex dips as Nifty Metal, Nifty Realty, and Pharma all saw significant gains, with Metal experiencing a 1.9% increase, while Pharma saw a 1.3% and 1% increase respectively.
Indian markets fell on June 10, following three consecutive gains, as investors awaited details on Prime Minister Narendra Modi’s new panel of ministers and portfolios.
Investors await US inflation data release and Federal Reserve policy meeting on June 12, where FOMC will update economic projections and dot plot, aligning with market expectations for interest rate cuts.
Sectors and stocks
Sectoral indices saw Nifty Metal gain by 1.9%, followed by Nifty Realty and Pharma, consumer durables and healthcare up 0.7%, while the Nifty IT Index fell 1.8%.
June 11 Forecast
The Indian market is experiencing mixed institutional flows, with FIIs covering shorts and DIIs booking profits. The US Federal Reserve’s stance on a rate cut is expected to continue, but any dial-back could test market patience.
The Nifty and Sensex experienced narrow range activity today, with sectors like Realty, Media, and IT experiencing significant rallies. The market was initially positive, but intraday range bound activity and a bearish candle suggest indecisiveness between bulls and bears. The immediate resistance level is 23,400/77,000, with potential for further correction.
The Nifty closed red down about 50 points, reaching an all-time high of 23,412. The rally was 2,100 points last week. A negative crossover suggests momentum loss, suggesting consolidation in the near term. The Nifty is likely to drift towards 23,160-23100 over the next few trading sessions. Bank Nifty faces resistance at 50,250, indicating a potential near-term consolidation.
| FII Bought | 2,572.38 Cr |
| DII Bought | 2,764.46 Cr |
Indian Stock Market
| Sensex | –203.28 | -0.27% | 76490.08 |
| Nifty 50 | -30.95 | -0.13% | 23259.20 |
| Nifty Bank | -22.30 | -0.04% | 49780.90 |
Market Movers
| UltraTechCement | 363.10 3.47% | Tech Mahindra | -37.25 -2.70% |
| Grasim | 66.95 2.81% | Infosys | -33.85 -2.21% |
| Hero Motocorp | 140.35 2.51% | Wipro | -9.30 -1.92% |
| Cipla | 37.00 2.47% | M&M | -49.90 -1.75% |
| Power Grid Corp | 6.45 2.09% | LTIMindtree | -73.75 -1.48% |
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Indian indices opened positively, with Sensex and Nifty reaching 76,000 and 23,100, respectively. Top gainers included Divis Labs, IndusInd Bank, Axis Bank, LTIMindtree, and Adani Ports, while losers included Adani Enterprises, Wipro, Grasim Industries.
Indian indices opened positively, with Sensex and Nifty reaching 76,000 and 23,100, respectively. Top gainers included Divis Labs, IndusInd Bank, Axis Bank, LTIMindtree, and Adani Ports, while losers included Adani Enterprises, Wipro, Grasim Industries.
Indian indices opened positively, with Sensex and Nifty reaching 76,000 and 23,100, respectively. Top gainers included Divis Labs, IndusInd Bank, Axis Bank, LTIMindtree, and Adani Ports, while losers included Adani Enterprises, Wipro, Grasim Industries.
Sensex Sensex Sensex
Sensex After four weeks of increases, Sensex and Nifty fell 2% for the first time After four weeks of increases, Sensex and Nifty fell 2% for the first time
The Nifty has experienced a decline, closing the day around 160 points lower. The daily charts show no follow-through buying interest after a breakout, and selling pressure at higher levels could lead to a slipping back into the consolidation zone. The Bollinger bands are contracting, indicating a range contraction. The Bank Nifty has not maintained positive momentum, and it could slip towards the 46900-46800 range. The overall trend is bullish, with an intermediate corrective phase in progress. Short-term weakness could lead to a decline towards the 22200-22250 range.
The Nifty has experienced a decline, closing the day around 160 points lower. The daily charts show no follow-through buying interest after a breakout, and selling pressure at higher levels could lead to a slipping back into the consolidation zone. The Bollinger bands are contracting, indicating a range contraction. The Bank Nifty has not maintained positive momentum, and it could slip towards the 46900-46800 range. The overall trend is bullish, with an intermediate corrective phase in progress. Short-term weakness could lead to a decline towards the 22200-22250 range.
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