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Ahead of Market: 10 things that will decide D-Street action on Monday

Indian benchmark indices witnessed a volatile session on Friday, June 5 and closed marginally lower as investors reacted to the RBI monetary policy outcome and continued FII selling. The central bank kept the repo rate unchanged at 5.25% and maintained its neutral policy stance, while raising its inflation forecast and lowering GDP growth projections, which kept market sentiment cautious throughout the session.

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Here’s how analysts read the market pulse:

“While the broader index trend remains weak, mixed performance among heavyweight stocks is limiting the pace of decline. In this backdrop, we maintain a cautious stance and prefer a sell-on-rise approach until the Nifty decisively reclaims the 23,700 level. At the same time, traders should focus on stock-specific opportunities across sectors and maintain balanced positions with disciplined overnight risk management,” said Ajit Mishra, SVP – Research, Religare Broking.

US markets
The US stock market had its worst day since October on Friday as a sell-off in big technology companies weighed on the broader market and a strong jobs report boosted expectations that the Federal Reserve may be forced to hike interest rates at some point this year.

The S&P 500 sank 2.6%, its biggest one-day drop since October 10, when the Trump administration threatened to impose a 100% tariff on imported goods from China. The losses pushed the benchmark index to its first losing week in the last 10. The Dow Jones Industrial Average fell 1.4%, while the Nasdaq Composite slumped 4.2%.
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European markets
European shares ended the week lower, as uncertainty over Middle East peace efforts kept investors on edge and technology stocks paused after a blistering two-month rally.

The pan-European STOXX 600 index fell 0.3% to 622.66 points and lost 0.5% for the week. Hopes for a breakthrough between the US and Iran appeared limited after the two countries exchanged strikes earlier in the week, while a US-brokered Israel-Lebanon ceasefire also looked fragile after Hezbollah rejected the pact. The resulting spike in energy costs has complicated the inflation outlook. Data this week showed euro zone inflation accelerated in May, prompting markets to price in a 25-basis-point interest rate hike from the European Central Bank.

Tech View
Going ahead, the index is likely to consolidate in the 23,000-23,550 range in the coming week. Only a move above Tuesday’s high of 23,556 will open the upside towards the 23,750–23,800 resistance zone in the coming sessions.

Most active stocks in terms of turnover
BSE (Rs 2,633 crore), ZEE (Rs 2,547 crore), RIL (Rs 2,303 crore), SBI (Rs 2,057 crore), Adani Enterprises (Rs 2,057 crore), HDFC Bank (Rs 1,660 crore) and Himadri Speciality (Rs 1,625 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify stocks with the highest trading turnover during the day.

Most active stocks in volume terms
Vodafone Idea (traded shares: 68.55 crore), Ola Electric (23.26 crore), ZEE (23.02 crore), YES Bank (14.9 crore), JP Power (9.09 crore shares) and Suzlon (7.28 crore shares) were among the most actively traded stocks in volume terms on BSE.

Stocks showing buying interest
ZEE, Adani Green, Himadri Speciality, Jyoti CNC, Schneider, Kirloskar Bros and Saregama India were among the stocks that witnessed strong buying interest.

52-week highs
Among the stocks that hit their 52-week highs were Himadri Speciality, Acme Solar, Adani Enterprises, Sai Life Science, Laurus Labs and Federal Bank.

Stocks seeing selling pressure
Stocks that witnessed significant selling pressure included Wockhardt, Hindustan Zinc, Netweb Tech, HFCL, Nalco, Tejas and BSE.

Sentiment meter favours bulls
Out of the 4,399 stocks traded on the BSE on Friday, June 5, 1,993 advanced, 2,212 declined and 194 remained unchanged.
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