InvestorQ : What is your stock market outlook for traders for 03 June Thursday? How do you see Nifty and Sensex panning out?
Khushi Patel made post

What is your stock market outlook for traders for 03 June Thursday? How do you see Nifty and Sensex panning out?

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diksha shah answered.
3 weeks ago
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On Wednesday 02 June, the Nifty closed absolutely flat at 15,576 but this covers the huge volatility and the bounce in the last hour. At one point, the Nifty was sharply down about 100 points but heavyweights like RIL and metal stocks recovered in the last hour. The Sensex however closed about 80 points lower. However, the Nifty A/D ratio is firmly positive.

UPL continued to dominate the index ahead of normal monsoon expectations. It was supported by the metal stocks which saw buying at lower levels after global growth showed signs of return back to normal. Reliance has also rallied above Rs.2200 and now looks to play out as per the Jefferies report.

It finally looks like the foreign portfolio investors are indulging in serious buying. FPI action was positive on Wednesday with buying of Rs.921 crore even as DIIs bought worth just about Rs.241 crore in equities. June appears to be positive for the FPIs as they are continuing the trend of the last week trend of May.

Dow and the NASDAQ were flat but the good came from Europe which rallied. SGX Nifty is trading about 50 bps up in early trades and momentum looks favourable for now.

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