Stock Market Outlook: How Will Nifty 50, Sensex Trade On June 2?

Stock Market Outlook: The Indian benchmark stock market bourses, Sensex and Nifty 50 are expected to witness a gap down opening, following weak global market cues and uncertainty over the US-Iran peace talks.  

The trends on Gift Nifty signal a negative opening for the Indian benchmark indices. The Gift Nifty was trading around 23,262 level, nearly 200 points lower from the Nifty futures’ previous close.

On Monday, the Indian stock market ended sharply lower, with the benchmark Nifty 50 closing below 23,400 level.

The Sensex declined 0.68% to close at 74,267.34, while the Nifty 50 ended 0.70% lower at 23,382.60.

Stocks In Focus

Wipro

IT services major Wipro announced on Monday, June 1, that it will acquire an additional 20% stake in insurtech company Aggne Global Inc for nearly Rs 271 crore.

NHPC

The central government on Monday announced an Offer for Sale (OFS) in state-run NHPC Ltd, proposing to divest a 3% stake in the company through the base offer.

Axis Bank

Private sector lender Axis Bank announced on Monday that it has increased its stake in Axis Max Life Insurance Company to 19.9%.

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Ola Electric Mobility 

The company has announced the launch of its Qualified Institutional Placement (QIP) issue and set the floor price for the fundraising at Rs 37.74 per equity share.

Eicher Motors

The parent company of Royal Enfield on Monday posted a 15% year-on-year (YoY) increase in sales for May, with total dispatches hitting 1,03,231 units as against 89,429 units in the the same period last year.