FIRST TRADE: Sensex opens flat, Nifty hovers around 18,550; IT, realty stocks gain

Stock market today, June 1, 2023: The equity market opened on a flat note on June 1, Thursday. The S&P BSE Sensex traded at 62,619.60 levels while the NSE's Nifty was trading around 18,550 levels. Tech Mahindra was the top gainer on the Sensex, followed by HDFC, and Wipro. 

"The sluggish to the negative mood in early trades could be due to concerns that the US debt-ceiling bill might be derailed, and a slide in China factory activity, indicating weakening global economic activity. However, strong Q4 GDP data beating street expectations could bring in some cheers to investors and lift market sentiment. Technically, confirmation of strength is only if the Nifty moves above the 18,663 mark, while make-or-break support for the index is at 18,327, while support for Bank Nifty is seen at 43,721," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

In the broader market, the S&P BSE Midcap index traded 0.33 per cent higher at 27,188.95 while the S&P BSE Smallcap index was trading at 30,711.78, up 0.61 per cent. 

Sectorally, technology and realty stocks were trading with decent gains. The S&P BSE Realty index was trading over 1 per cent higher at 3,873.95 levels while the S&P BSE Information Technology was quoting at 29,513.43, up 0.57 per cent.