Synopsis : Indian markets opened steady midweek with slight gains in benchmark indices, led by strength in tech, auto, and finance sectors. Investors are eyeing multiple block deals and Q4 earnings announcements today.
Indian Markets Hold Firm: Nifty Near 24,600, Sensex Up by 180 Points
On Wednesday, Indian equity markets began the day on a cautiously optimistic note. The NSE Nifty 50 rose 0.16% to open at 24,581, while the BSE Sensex gained 179 points or 0.22%, touching 80,916.80 in early trade.
The Bank Nifty index also reflected market sentiment, moving up 0.21% to 55,717.70. The Nifty Midcap 100 advanced 149 points to 57,666, showcasing continued retail participation and sectoral strength.
Sector Watch: Auto, Tech, Finance in Focus
Among sectoral indices, Nifty Auto emerged as the top gainer, up 0.44%, driven by upbeat sentiment in vehicle and component stocks. It was followed by the tech and financial sectors, which led early trade momentum.
Top Gainers:
Tata Motors
Shriram Finance
Zomato
Bharti Airtel
Bharat Electronics
Under Pressure:
UltraTech Cement
JSW Steel
Coal India
Titan
ICICI Bank
Market Outlook: What Experts Say
According to VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services:
“The 24,000–25,000 range is likely to hold for Nifty in the near term. Fundamentals remain strong, with steady SIP inflows and improving macros. A breakout above 25,000 seems more probable than a breakdown below 24,000, barring unexpected developments.”
Earnings in Focus Today
All eyes are on the Q4 earnings results scheduled for June 4. Notable companies releasing their financials today include:
Allied Digital Services
Ashapura Intimates Fashion
Arcotech
Euro Asia Exports
Hardwyn India
Royal Cushion Vinyl Products
Sampre Nutritions
Starlit Power Systems
Investors are advised to watch for surprises in these reports, as they could add short-term volatility to specific stocks and sectors.
Block Deals Expected
Today's session is also expected to see a flurry of block deals, indicating high institutional activity. This could provide liquidity and directional cues later in the trading session.
Disclaimer : This article is for informational purposes only and does not constitute investment advice. Please consult your financial advisor before making any investment decisions.
