Share Market Today: The impact of tensions in the Middle East on the Indian stock market! Sensex-Nifty likely to open lower
- Indian stock markets are expected to open with a gap-down opening today due to conflict in the Middle East and negative global cues.
- Stocks like Adani Energy Solutions, Adani Enterprises, Hindustan Zinc, Zee Entertainment and Pine Labs may be on investors’ radar today.
- Market experts said there are buying opportunities in select stocks including Schneider Electric Infrastructure, Axis Bank, Inox Green, Zen Technologies and Voltas.
India Share Market Update: Major indices of the Indian stock market, Sensex and Nifty 50, are expected to open with big losses today on June 8. Hopes for an end to the US-Iran war have been dashed by renewed conflict in the Middle East. This is having an effect on the global market and consequently on the Indian stock market as well. Trends in Gift Nifty are also signaling the beginning of a gap-down for the Indian benchmark index. GIFT Nifty was trading at 23,118, at a discount of nearly 334 points from the previous close of Nifty futures.
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On Friday, the Indian stock market closed lower after the Reserve Bank of India’s (RBI) monetary policy and the benchmark Nifty 50 fell below the 23,400 level. The Sensex closed down 116.67 points, or 0.16 percent, at 74,243.34, while the Nifty 50 fell 49.85 points, or 0.21 percent, to 23,366.70. It is predicted that there will be a big fall in the stock market today as well. Therefore, investors are advised to be cautious. (Photo Courtesy – Pinterest)
Investors in Indian stock market today are Adani Energy Solutions / Adani Enterprises, Alembic Pharmaceuticals, Allied Blenders & Distillers, Creative Newtech, EMS, HG Infra Engineering, Hindustan Zinc, Lenskart Solutions, Pine Labs, PNGS Reva Diamond Jewellery, Sterlite Technologies, Zee Entertainment Enterprises. They can focus on shares. Vaishali Parekh, Vice President, Technical Research, Prabhudas Lilladhar today recommended three stocks for investors to buy or sell: Schneider Electric Infrastructure, Axis Bank and Inox Green.
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Jigar S., Senior Manager, Equity Technical Research at Anand Rathi Share & Stock Brokers. According to Patel, for the next 1-2 weeks, investors can consider buying shares of Zen Technologies, Voltas, VBL. According to Sumit Bagdia, Executive Director, Choice Broking, investors trading in the Indian stock market today may consider buying stocks such as Greaves Cotton Limited, Saregama India Limited, NRB Bearings Limited, Apollo Pipes Limited and Adani Energy Solutions.
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