GIFT Nifty Opening Update
GIFT Nifty opened today at 23,498.50. It is down -8.00 points (-0.03%) from yesterday’s close of 23,492.50— so the trend is negative.
India’s benchmark equity indices, the Sensex and Nifty 50, concluded a four-session decline on Tuesday, June 2, bolstered by advancements in significant IT stocks and opportunistic purchasing by investors. Following a decline of nearly 3% over the preceding four trading sessions, attributed to heightened tensions in the Middle East and ongoing foreign institutional selling, the BSE Sensex experienced a rebound, closing at 74,650, with an increase of 383 points or 0.52%. Meanwhile, the NSE Nifty 50 advanced 101 points, or 0.43%, to settle at 23,484. However, the market is poised to end its gaining streak as trends in the Gift Nifty index indicated a negative opening on Wednesday.
Gift Nifty was positioned around the 23,456 level, reflecting a decline of more than 147 points compared to the prior closing of Nifty futures. “Indian equities are likely to begin today’s session on a flat note, with Gift Nifty trading around 23,479, largely in line with Nifty’s previous close of 23,483. While global markets continue to display resilience, domestic investors remain caught between improving risk appetite overseas and persistent macro uncertainties closer to home,” said Hariprasad K. As the market indicates a potentially negative opening, certain stocks are expected to attract attention on Wednesday owing to their individual positive or negative catalysts.
Stocks to Monitor:
- Vedanta – The Enforcement Directorate undertook visits to specific offices of Vedanta and its subsidiary, Hindustan Zinc. The company is fully cooperating with the authorities and is providing all requested information.
- Canara Bank has sanctioned a plan to secure up to Rs 8,500 crore in FY27 via debt instruments, with the objective of strengthening its capital base and facilitating future business growth.
- Adani Ports and SEZ reported a 15% year-on-year increase in cargo volumes, indicating sustained growth in its port operations. In contrast, logistics rail volumes fell 19% compared to the same period last year.
- NHPC – The government’s Offer for Sale in NHPC Limited was subscribed 3.47 times on the first day of bidding by non-retail investors, prompting it to fully exercise the 3% greenshoe option, according to a regulatory filing released on Tuesday.
- InterGlobe Aviation (IndiGo) – Due to persistent international airspace restrictions resulting in significantly extended flight durations and a challenging cost landscape, IndiGo has opted to temporarily halt its flights to and from Manchester, starting August 31, 2026.
- Alkem Laboratories experienced block transactions totalling approximately Rs 930 crore on Tuesday, as members of the promoter family divested shares to a consortium of domestic mutual funds and foreign institutional investors. NSE block deal data indicated that approximately 17.88 lakh shares were exchanged at a price of Rs 5,200 per share, resulting in a total deal value of around Rs 930 crore.
- Concord Biotech has received approval from the U.S. Food and Drug Administration (FDA) for its Mycophenolate Mofetil for Oral Suspension USP.
- Advait Energy Transitions – Advait BESS Bhesaan, a subsidiary of Advait Energy Transitions, has signed a Battery Energy Storage Purchase Agreement (BESPA) with Gujarat Urja Vikas Nigam (GUVNL) to establish a standalone Battery Energy Storage System (BESS) project with a total capacity of 150 MW/300 MWh.
- Dhanuka Agritech’s share buyback offer, valued at up to Rs 70 crore, is scheduled to commence on June 4. Under the offer, the company intends to repurchase up to 500,000 shares at a buyback price of Rs 1,400 per share.
- Bliss GVS Pharma – The manufacturing facility of the company located in Palghar, Maharashtra, has obtained an Inspection Closure Report from the World Health Organization (WHO), based in Geneva. The report affirms that the facility adheres to the WHO’s Good Manufacturing Practices (GMP) standards.