On Monday morning, the key Indian equity indexes, the BSE Sensex and Nifty50, reached all-time highs in early trading. While Nifty50 was above 23,000, the BSE Sensex increased by 200 points. The BSE Sensex was up 180 points, or 0.24%, at 75,589.95 at 9:19 AM. The Nifty50 was up 48 points, or 0.21%, at 23,004.85.
Friday's trading session saw the Nifty meander sideways throughout, and it ended with a slight loss of 11 points at 22,957 levels.
Siddhartha Khemka, Head of Retail Research at Motilal Oswal, stated, "We expect the market to witness a gradual up-move and see some volatility this week as both election and earning season are nearing their end."
Sharekhan's Jatin Gedia observes that Nifty has surpassed its original objective of 23,000 and has now increased it to 23,150, which is the location of the ascending channel's upper end. According to an ET article, he suggested setting a trailing stop loss of 22,800 for long bets.
U.S. equities recovered on Friday, regaining ground lost the day before due to encouraging reports on consumers' better outlooks on inflation. The Nasdaq reached a record closing high and gained for the sixth week in a row thanks to this increase. As U.S. consumer inflation expectations eased, Asian markets rallied in tandem with their American counterparts, supporting a rate drop by the Federal Reserve this year.
Early Asian trade on Monday saw no change in oil prices as investors watched the OPEC+ meeting on June 2, where producers are anticipated to talk about continuing voluntary output curbs for the rest of the year. With investors looking on U.S., European, and Japanese inflation statistics to inform the forecast for interest rates globally, the dollar had a stable start to the week.
On Friday, domestic institutional investors purchased shares valued at Rs 2,320 crore, while foreign portfolio investors were net sellers at Rs 944 crore. On Friday, the rupee strengthened 0.2% vs the US dollar to settle at 83.0975, its highest closing value since March 19.
On Monday, a number of businesses, including LIC, NMDC, National Aluminium Company, Dish TV India, DCM Shriram Industries, Vishnu Prakash R Punglia, and Natco Pharma, are scheduled to release their fourth-quarter financial results,
