Companies set to announce their earnings are Orient Electric, Magna Electro Castings, Capital India Finance, Universal Cables, Welspun Enterprises, V-Guard Industries, Birla Cable among others will announce their Q4 results today.

Sensex and Nifty continued earlier week’s bullish trend and started Monday’s trade on a positive note, inline with strong global equities. Sensex traded 923 points higher at 33,346 and Nifty rose 257 points higher at 9,837. Experts said market sentiments turned positive following announcement by the centre that restrictions on the lockdown will be eased June 1 onwards. Investors worldwide were optimistic over slowing of new virus cases, with prospects of more government stimulus amid eased lockdowns across the world. On Friday, Sensex closed 233 points higher at 32,424 and Nifty ended 90 points higher at 9,580.

Here’s a look at the updates of the market action on BSE and NSE today

9.59 AM: Nifty outlook

As per technical indicators, the push higher in the second half of Friday signals continuation of uptrend. With this move, Nifty is expected to aim 9730-9860, with downside marker placed at 9348.

9.49 AM: Market Update

Sensex and Nifty continued earlier week’s bullish trend and started Monday’s trade on a positive note, inline with strong global equities. Sensex traded 923 points higher at 33,346 and Nifty rose 257 points higher at 9,837.

9.42 AM: Q4 Earnings to be released today

Companies set to announce their earnings are Orient Electric, Magna Electro Castings, Capital India Finance, Universal Cables, Welspun Enterprises, Vindhya Telelinks, V-Guard Industries, Birla Cable, Srikalahasthi Pipes among others will announce their Q4 results today.

9.36 AM: Global cues

Domestic equity market traded majorly bullish today as reduced US-China geo-political tensions and Indian government announcing lifting of lockdown boosted the market sentiments.

US stocks finished higher on Friday after Trump refrained from China sanctions. Asian stocks rose on Monday as progress on opening up economies helped offset jitters over riots in US cities and unease over Washington’s power struggle with Beijing.

SGX Nifty traded up 183 points at 9,665.25. Meanwhile, US Futures (Dow Jones) traded at 25419, up 41 points or 0.16%.

9.28 AM: Stocks to watch today on June 1

YES Bank, RIL, IDBI Bank, Kotak Bank, P&G Health, M&M, Affle, Polycab, MCX, Lemon Tree among others are the top stocks to watch out for in Monday’s trading session

9.20 AM: Opening Bell

Sensex and Nifty continued earlier week’s bullish trend and started Monday’s trade on a positive note, inline with strong global cues. Sensex opened 809 points higher at 33,233 and Nifty started 217 points higher at 9,798.

9.10 AM: Coronavirus toll in India

India recorded the biggest single-day rise in total cases that is by 8,380 taking the total to 1.82 lakh, including 0.86 lakh cured and 5,164 deaths.

9.05 AM: Pre-open session

Sensex pre opened 450 points higher at 32,906 and Nifty started 145 points higher at 9,726.

9.00 AM: FII/ DII action in India

On a net basis, FIIs sold Rs 334.74 crore, while DIIs have bought Rs 2,408 crore in equities on Friday.

8.50AM: Rupee closing

On the currency front, rupee closed at 75.62 per dollar as against the last closing value of 75.75 per dollar.

8.40 AM:  Closing bell

Sensex and Nifty reversed trend and closed higher by the last hour of trade on Friday, amid heavy buying in realty, pharma and FMCG stocks. Sensex closed 233 points higher at 32,424 and Nifty ended 90 points higher at 9,58.

Source: Business Today

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