*Latest after the Bell – Thursday, June 1st 2023.*
# Adv-Dec 28——22
# INDIA VIX 11.59 (-3.17%)
# Nifty PCR 1.37
# BANK NIFTY PCR 1.13
# Nifty MidCap (+0.21%, 9560)
# NiftySmallC (+1.02%, 10270)
# BANK Nifty (-0.77%, 43790)
# Nifty IT (+0.43%, 29446)
# USD/INR (-0.38%, 82.51)
*Nifty surrenders intraday gains and ends in red as profit extends to 2nd day straight day.*
Nifty succumbed to more profit booking as investors clanged to a cautious approach.
Bulls actually struggled to make a headway despite the US House of Representatives passing the bill to raise the debt ceiling, advancing it to the Senate ahead of the June 5 deadline.
Coal India dropped 4% after government's sets OFS floor price of Rs 225 per share.
The benchmark Nifty was actually hit by slide in China factory activity – indicating weakening global economic activity.
Amongst sectoral indices, barring Nifty Pharma ended with 1% gains while Nifty Bank slipped 0.77%.
*Long story short:* Nifty hits the pause button and most importantly, the benchmarks upside momentum appears to struggle.
*BUZZING STOCKS:*
*Top Index Gainers:* APOLLOHOSP (+4.35%) DIVISLABS (+2.55%) BAJAJ AUTO (+1.63%)
*Top Index Losers:* COALINDIA (-4.66%) KOTAKBANK (-4.24%) BHARTIARTL (-2.71%)