Indian Markets Poised for a Gap-Down Start Amid Global Volatility and RBI Watch
🌍 Global Market Overview
✅ US indices closed higher on June 2: Dow at 51,308 (+0.45%)
✅ Asian markets showed mixed trends:
✅ Commodity update: Brent crude rose 1.13% to $97.08,
🇮🇳 Indian Market Snapshot
📈 Nifty 50 closed at 23,484, up 101 points (+0.43%) on June 2.
⚠️ However, GIFT Nifty futures indicate a gap-down start today, trading near 23,468, down roughly 120–135 points.
📌 Factors Behind the Dip
💰 Rising crude prices amid stalled US–Iran peace talks are weighing on sentiment.
⚡ Foreign Institutional Investors (FIIs) turned net sellers, adding downward pressure.
💹 FII & DII Activity (June 2)
🏦 FIIs sold aggressively, offloading ₹8,363 crore, mainly in index futures & options, IT, and PSU banks.
🌱 Domestic Institutional Investors (DIIs) countered with net purchases of ₹9,589 crore, supporting banking, FMCG, and auto sectors.
🏢 Corporate Highlights for June 3
📌 NHPC’s retail offer-for-sale (OFS) opens today, following a strong 3.47x oversubscription in the non-retail tranche.
📌 CMR Green Technologies launches IPO with a price band of ₹182–192, targeting ₹631 crore.
📌 Adani Ports reports robust 16% YoY growth in May cargo volumes.
📌 Infosys enters a strategic partnership with DNB Bank ASA.
📌 Tech Mahindra teams up with StackGen to advance agentic AI solutions.
📌 Alkem Labs launches pre-filled Semaglutide syringes priced at ₹350.