RBI is set to declare its second bi-monthly monetary policy decision of FY24 today (June 8). RBI Governor Shaktikanta Das’ statement on the Monetary Policy is scheduled for 10 am. The MPC had maintained status quo on the repo rate in the last review, whether the repo rate remains unchanged in this review as well remains to be seen
“Markets edged higher and gained over half a percent amid mixed cues. After the initial uptick, Nifty traded in a narrow band in the first half however noticeable buying in select index heavyweights helped the index to cross 18,700. Most sectors traded in sync with the benchmark and ended higher wherein realty, metal, energy and FMCG were the top gainers. Amid all, the continued buoyancy on the broader front was the key highlight as both midcap and smallcap index gained over a percent each,” said Ajit Mishra, SVP- Technical Research, Religare Broking Ltd.
“The prevailing underperformance of the banking pack is still weighing on the sentiment. We may see choppiness due to the outcome of the MPC’s policy meet and scheduled weekly expiry on Thursday. Amid all, we reiterate our positive view and suggest focusing on identifying opportunities from the leading sectors,” said Ajit Mishra, SVP- Technical Research, Religare Broking Ltd.
Stocks of IndiaBulls Housing Finance, India Cements, Manappuram Finance are part of National Stock Exchange’s F&O ban list for trade on June 8. The ban has been put in place as the three have crossed 95% of the market-wide position limit. But trading can continue in the cash market for these stocks
“Comex spot gold is likely to find buyers around $1935 per ounce and while $1980 per ounce is the resistance for the day. MCX Gold August future likely to find support at Rs 59,340 per 10 gram and resistance at Rs 60,180 per 10 grams,” said Saumil Gandhi, Senior Analyst- Commodities, HDFC Securities
The Realme 11 Pro series will launch today reportedly with a Pro and a Plus variant. The expected price of the Realme 11 Pro could be Rs 23,999 while the Realme 11 Pro+ is likely to cost Rs 28,999. Realme 11 Pro+ features a 200-megapixel primary camera
“We expect recovery in crude oil price likely to continue for the day. NYMEX WTI crude oil has resistance at $73.80 per barrel and finds support at $70.20/ per barrel. MCX Crude Oil June futures have supports at Rs 5,805 per barrel and resistances at Rs 6,040 per barrel,” said Saumil Gandhi, Senior Analyst- Commodities, HDFC Securities
Public sector OMCs including BPCL, IOCL and HPCL revise their petrol price and diesel price daily in line with international benchmark prices and forex rates. Petrol and diesel prices today remained stable
In an update on Cyclone Biparjoy shared by the Indian Meteorological Department (IMD), a warning has been issued for fishermen on the coasts of Karnataka, Kerala and Goa to not venture into seas due to dangerous weather conditions and rough sea conditions prevailing over South East Arabian Sea