Indices to open gap up on June 6

6 Jun 2024 , 08:28 AM

The benchmark Sensex and Nifty indices are expected to open higher on June 6. The GIFT Nifty was trading 175 points higher in the morning trends on June 6. At the same time, Nifty Futures were trading at 22,670 at 07:10 am.

On June 5, the Nifty and Sensex rebounded strongly as political stability was bolstered by two key allies pledging support to form a new government with the BJP. At the close, the Sensex had surged 2,303.19 points (3.20%) to 74,382.24, and the Nifty rose 735.80 points (3.36%) to 22,620.30. Advancers outnumbered decliners, with 2,331 shares rising, 1,022 falling, and 76 remaining unchanged.

Asian markets also saw gains on Thursday, driven by hopes of a rate cut by the European Central Bank, while major U.S. indexes hit fresh highs overnight. The S&P 500 and Nasdaq closed at record highs, led by technology stocks, as investors considered economic data that might prompt the Federal Reserve to begin policy easing.

Foreign institutional investors (FIIs) sold Indian equities worth ₹5,656.26 Crore on June 5, continuing their selling streak for the second consecutive session. Conversely, domestic institutional investors (DIIs) became net buyers, purchasing equities worth ₹4,555.08 Crore on the same day.

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