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Market Commentary

Indian benchmark indices ended lower for the fourth consecutive session, with the Nifty slipping below the 23 ,400 mark on June 1 as persistent FII outflows and geopolitical uncertainties continued to weigh on investor sentiment .

* At close, the Sensex declined 508 .40 points or 0 .68 % to 74 ,267 .34 , while the Nifty fell 165 .15 points or 0 .70 % to 23 ,382 .60 .

* On the sectoral front, most sectors ended in the red, reflecting broad - based selling pressure across the market . Major weakness was observed in Nifty FMCG, PSU Bank, Realty, and Auto, which emerged as the key laggards during the session . However, selective buying interest was visible in Nifty IT, Media, and Metal, which managed to outperform the broader market and provided some cushion to the decline .

* The broader market also witnessed significant profit booking, with the Nifty Midcap 100 index declining 1.45 %, while the Nifty Smallcap 100 index fell 0 .88 %.

* Gift Nifty signals a negative opening for the Indian market . Nifty spot in today's session is likely to trade in the range of 23 ,100 - 23 ,550 .

Global Updates

* Wall Street preserved a highly resilient front to finish its final regular session of the month in positive territory . A softening curve at the long end of sovereign debt markets gave growth indices a highly protective cushion, comfortably shielding mega - cap valuations from intermediate macro crosscurrents .

* The global macro framework is shifting into the new calendar month with highly sensitive geopolitical undertones . While a 60 - day tentative truce framework remains actively mediated on the back - channels to secure transit across the Strait of Hormuz, a definitive executive signature has yet to finalize the accord .

* Asian regional layouts are advancing with high confidence this morning, completely looking past localized emerging market volatility to mirror New York's late - week technology expansion :

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