FIRST TRADE: Sensex, Nifty see a muted start; Tata Motors up 1%, IT stocks slip

Stock market today, June 6, 2023: Domestic equities witnessed a muted start on Tuesday, June 6, amid selling in IT counters and cautious global cues. At 09:19 AM, the S&P BSE Sensex was flat at 62,777.84, down 0.02 per cent while the NSE's Nifty was hovering around 18,600 levels.

“Markets could retreat in early Tuesday trades owing to overnight weakness in key US indices while denting sentiments a bit would be FII selling that continued for the second consecutive day. In a bullish Monday session at Dalal Street, FIIs sold local shares worth Rs 701 crore. On the other hand, the trading theme revolves around the potential outcome of the upcoming US FOMC decision (June 14), as inflation eases at quite a slow pace while the job market remains tight. Technically, bulls are likely to get more conviction only above the 18,864 mark, while bears are unlikely to take control as long as Nifty is above the 18,463 support level," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

BUZZING STOCKS

Capacite Infraprojects hit a 52-week high of Rs 192.55 apiece on the BSE after the company informed exchanges that a meeting of the board of directors is scheduled on June 6, Thursday to consider and approve fundraising by way of preferential issue of shares. L&T Finance was trading over a per cent higher at Rs 106.20 after the company informed that the board will discuss the final dividend on June 8.

BROADER MARKET

The S&P BSE MidCap index traded flat at 27,378.25 levels while the S&P BSE SmallCap index was up 0.27 per cent at 31,125.87 points in the early morning trade.