POST MARKET
The Indian stock market came under intense selling pressure on Monday, 1 June, soon after opening on an upbeat note, as investors adopted a sell-on-rise approach due to lingering concerns like elevated crude prices and the lack of an outcome on the Middle East conflict.
Among sectoral performers, the Nifty FMCG index fell 2.45%, while the Nifty Realty index dropped 2%. Other sectors, including Nifty PSU Bank, Nifty Consumer Durables, Nifty Chemicals, and Nifty Private Bank, were also down more than 1% each.
The broader markets underperformed today as investors moved towards relatively better-valued opportunities in large-cap equities, seeking stability amid global uncertainties. Nifty Midcap 100 declined 1.45%, and the Nifty Smallcap 100 lost 0.88%.
STOCKS IN NEWS
Bharat Coking Coal
Shares of Bharat Coking Coal Ltd slumped nearly 8% on Monday after the company reported a sharp decline in coal production for May.
Mahindra And Mahindra
Mahindra & Mahindra Ltd (M&M) shares fell more than 2 percent in trade on Monday despite the company reporting better-than-expected sales for May, as rising crude oil prices weighed on investor sentiment.
Persistent Systems
Shares of Persistent Systems rose 5.5% on June 1 as the IT firm announced the signing of an agreement to expand its Eastern European presence through the integration of a specialised team of more than 90 professionals from Concise, a Tallinn (Estonia)-headquartered software engineering and IT consulting company.
PTC Industries
PTC Industries shares rose as much as 14 percent on Monday after global brokerage Goldman Sachs reiterated its “buy” rating on the stock following the company’s March quarter earnings and projected an upside potential of about 60 percent
Source: Mint, Moneycontrol
