Market wrap- 3rd june

Today, we’ll look at how the market performed, how the indexes moved, which sectors were in trend, and what the upcoming market trend might be. So, let’s start with Nifty. Nifty ended 0.7% lower, down by 174 points. Today was the Sensex expiry, which led to heightened volatility in the market. Throughout intraday, the market remained volatile, and Nifty eventually closed below its 21-day moving average. Now let’s look at index performance. Nifty fell 0.7%, Nifty Next 50 was down 0.55%, Small Cap remained flat, and Mid Cap declined by 0.36%. Large-cap stocks have been showing bearish to sideways trends over the past 10 days. Let’s now turn to sector performance. Among the positives, the Nifty Realty index stood out with gains in stocks like Brigade and Showbiz. We’ve also taken positions in the Realty sector—check those out in our app. Defence was up by 1.1%, another sector where we hold positions. You can view these in the app as well. Capital Markets also closed in the green. These stocks are directly connected to the stock market’s movement. On the negative side, sectors like Nifty Private Bank, Nifty Energy, and Nifty Public Sector Enterprises showed the most weakness. These were the top three laggards. Now, let’s assess the broader market trend. Nifty 500 is still trading above its 21-day moving average, which reflects some underlying strength. The primary trend remains positive. However, global concerns could influence the trend. Events like the Russia-Ukraine war and rising bond yields in the US and Japan might put pressure on the market. Despite these concerns, we can’t yet label the trend as negative. If you’re planning to trade on the positive side, it’s advisable to wait for signs of recovery and some bullish momentum in the market before entering.