InvestorQ : Hi Diksha, what are the market cues and the stocks to watch out for on Friday 03rd June?
indhumathi Sayani made post

Hi Diksha, what are the market cues and the stocks to watch out for on Friday 03rd June?

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diksha shah answered.
8 months ago
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Here are some of the major cues that you can watch out for trading on Friday, 03rd June 2022.

· US markets were sharply higher led by technology shares. For the day, Dow closed with gains of 435 points while the NASDAQ closed with gains of 322 points. The German DAX and the French CAC also up over 1%, although FTSE was lower.

· In response the SGX Nifty is nearly 100 bps higher in early trades on Friday. One stock to watch in the large caps is Reliance Industries which rallied sharply on Thursday. It is likely to be in action on Friday too as it gets much closer to acquiring Walgreens.

· Aditya Birla group’s Ultratech will invest a sum of Rs12,886 crore to expand cement capacity by 22.6 MTPA. It will be a mix of brownfield and greenfield expansion by the company. Its cost per tonne for the expansion is extremely low at $76/tonne.

· RBI will announce its monetary policy on 08th June where 50 bps repo rate hike and perhaps even a 50 bps CRR hike could be on the cards. However, expect some caution in the second half being the last trading day of the week, ahead of a volatile next week.

· In macro triggers while bond yields are stable, the rupee strengthened to Rs77.475/$. The Brent crude price bounced back to $117.20/bbl after the 648,000 bpd supply hike by the OPEC was much lower than expected.

Expect a strong opening but markets could give up gains in the latter half of the day.

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