POST-MARKET SUMMARY 6th June 2025
On June 6, benchmark indices continued their upward momentum for a third consecutive session, driven by a larger-than-expected rate cut by the Reserve Bank of India alongside a reduction in the cash reserve ratio (CRR). These moves are seen as efforts to stimulate demand in the economy, with the market experiencing its strongest performance in the last three weeks. Read more: RBI Policy Outcome: Impact on Markets & Economy
Among sectors, all indices except Media ended in the green. The Realty index surged over 4%, as the RBI’s repo rate cut is expected to lower EMIs and boost housing demand. The Nifty Bank index soared to a fresh record high of 56,695. Meanwhile, the auto, metal, consumer durables and private bank indices each climbed over 1%. On the downside, the Media index saw a 1% decline.
NIFTY: The index opened flat at 24,748 and made a high of 25,029 before closing at 25,003. Nifty has formed a long bullish candle on the daily chart. Its major resistance level is now placed at 25,120 while its immediate support is at 24,900.
BANK NIFTY: The index opened 61 points lower at 55,699 and closed at 56,578. Bank Nifty has formed a long bullish candle on the daily chart. Its immediate resistance level is now placed around 56,750 while immediate support is around 56,400.
Stocks in Spotlight
▪ Tata Investment Corporation: Stock rose 3% following reports that its subsidiary, Tata Capital, received regulatory approval for a Rs 17,200 crore IPO.
▪ Praj Industries: Stock jumped over 4% after the company secured an international contract from Enersur SA for a fully integrated biorefinery project in South America
▪ Ashoka Buildcon: Stock gained 2% after the company secured a Rs 1,387 crore contract for a traffic management project in Maharashtra.
Global News
▪ Asian and European markets showed mixed performance on Friday as investors awaited key U.S. job market data for insights into the world’s largest economy's health.
▪ Oil prices slipped but were set for their first weekly gain in three weeks, fuelled by renewed U.S.-China trade talks, raising hopes for stronger demand.
▪ Gold strengthened on Friday, poised for a weekly rise, as U.S. data bolstered expectations of Federal Reserve rate cuts, while silver hit a 13-year high.
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