Stock market today: The Indian stock market witnessed heavy selling pressure on Monday, June 1, after opening on a positive note, as investors chose to book profits amid persistent concerns over elevated crude oil prices and the absence of any breakthrough in the Middle East conflict.
The ended the session at 74,267, down 508 points or 0.68%, extending its cumulative decline over the past four trading sessions to 2,220 points. Meanwhile, the Nifty 50 fell 165 points, or 0.70%, to close at 23,383, taking its four-session loss to nearly 650 points.
However, the market is likely to continue its losing streak as trends in the Gift Nifty index signalled a negative opening on Tuesday. was trading near the 23,312 mark, down over 150 points from the previous close of Nifty futures.
“Indian equity markets are expected to open with a cautious undertone as persistent geopolitical uncertainty continues to cloud investor sentiment. The U.S.–Iran situation remains unresolved, with diplomatic efforts encountering repeated setbacks and no definitive breakthrough yet emerging. The prolonged tensions in the Middle East have kept global risk appetite restrained, prompting investors to adopt a more defensive stance amid concerns over regional stability and the broader implications for energy markets,” said Ponmudi R, CEO of Enrich Money.
As the is pointing towards a negative start, some stocks are likely to remain in focus on Tuesday due to their own positive/negative triggers.
Stocks to Watch
Ola Electric Mobility
Ola Electric Mobility, on Monday, announced the launch of its Qualified Institutional Placement (QIP) issue and set the floor price for the fundraising at ₹37.74 per equity share.
Wipro
IT services giant Wipro announced on Monday that it will acquire an additional 20% stake in insurtech company Aggne Global Inc for $28.5 million (approximately ₹271 crore).
NHPC
The Government of India 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.
Anant Raj
Anant Raj has entered into a Memorandum of Understanding (MoU) with the Government of Haryana to invest ₹20,000 crore in building large-scale data center infrastructure across the state.
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%.
Eicher Motors
Mid-sized motorcycle manufacturer Royal Enfield on Monday reported a 15% year-on-year increase in sales for May, with total dispatches reaching 1,03,231 units compared with 89,429 units in the corresponding month last year.
Equitas Small Finance Bank
The small finance bank said it has obtained approval from the Reserve Bank of India (RBI) allowing Mirae Asset Mutual Fund to acquire an aggregate stake of up to 9.5% in the bank’s paid-up equity share capital or voting rights.
ACME Solar Holdings
The company has initiated a qualified institutional placement (QIP) to raise up to ₹2,800 crore.
PNC Infratech
The infrastructure company announced that it has secured a Letter of Acceptance (LOA) from the Lucknow Development Authority for the construction of a flyover in Lucknow, Uttar Pradesh.
Fino Payments Bank
The bank announced a strategic partnership with Ezee.ai to develop a lending ecosystem and facilitate its transformation into a Small Finance Bank (SFB).
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.