Market TodayThe Nifty and Sensex ended traded mostly flat-to-positive on June 11, with NSE Nifty 50 reaching within touching distance of its all-time high that it hit in the previous session.
However, the benchmark indices gave up gains towards end of the trading session, with Nifty and Sensex turning flat.
At close, the Sensex was down 33 points or 0.04 percent at 76,456 and the Nifty 50 was up 5.60 points or 0.02 percent at 23,265.
Among sectoral indices, Nifty Realty and Nifty Media were the biggest gainers, rising over over 1 percent each.
Meanwhile, Nifty Pharma and Nifty Healthcare fell the most, declining 0.4 percent and 0.5 percent, respectively.
Market Today
The Nifty and Sensex ended traded mostly flat-to-positive on June 11, with NSE Nifty 50 reaching within touching distance of its all-time high that it hit in the previous session. However, the benchmark indices gave up gains towards end of the trading session, with Nifty and Sensex turning flat.
At close, the Sensex was down 33 points or 0.04 percent at 76,456 and the Nifty 50 was up 5.60 points or 0.02 percent at 23,265. About 2,366 shares advanced, 1,276 shares declined, and 94 shares remained unchanged.
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Biggest losers on the Nifty included Kotak Mahindra Bank, Divi's Labs, and Asian Paints while biggest gainers were ONGC, L&T, and Adani Ports among others.
Among sectoral indices, Nifty Realty and Nifty Media were the biggest gainers, rising over over 1 percent each. Meanwhile, Nifty Pharma and Nifty Healthcare fell the most, declining 0.4 percent and 0.5 percent, respectively.
Also Read | Bank Nifty weekly expiry: Two low-risk strategies for moderately bullish outlook
Outlook for June 12
Nagaraj Shetti, Senior Technical Research Analyst, HDFC Securities
A small negative candle was formed on the daily chart with upper shadow. After a sharp upmove recently, the market showing such formations in the last two sessions indicates possibility of minor downward correction in the short term.
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Nifty is currently placed at the hurdle of 23,400-23,500 levels (1.382% Fibonacci projection), weekly hanging man and the opening downside gap of June 4, which are weighing high for the market to sustain the new all-time highs. Hence, there is a possibility of dip in the market. Immediate support is at 23,050 levels.
Vinod Nair, Head of Research, Geojit Financial Services
After a notable rebound, the domestic market has stabilised, awaiting further triggers. With the resolution of uncertainties in government formation, attention has shifted back to global and domestic indicators.
Concerns have risen regarding potential US rate cuts following last week's strong US job data, leading to an increase in US bond yields. However, FIIs have been net buyers lately. Investors are now gearing up for this week's policy decisions from the US Fed and the BoJ, as well as key inflation data from the US and India, seeking insights into the trajectory of rate cuts.
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