Kolkata: The Indian stock market indices Sensex 30 and Nifty 50 fell by as much as 0.78% and 0.70% on June 3, weighed down by rising geopolitical uncertainties and FPI fund outflows. Sensex declined 636.24 points to close the session at 80,737.51, while Nifty tanked 174.10 points to settle at 24,542.50 at the end of the day.
Technical experts pointed to formation of a long negative candle in Nifty daily chart. It was also pointed out that Nifty breached its short-term support zone (20 Double Exponential Moving Average) for the first time in about six weeks, which could stoke further selling. As a result the index could slide towards 24,400-24,200. (Double Exponential Moving Average or DEMA is a technical indicator used to analyse price trends.)
On the other hand, all three US major stock indices closed in the green as US stocks pulled closer to their record despite the uncertainty over the impact of the Trump tariffs on the economy. The S&P 500 rose 0.58%, Dow Jones Industrial Average was up 0.4% and the Nasdaq composite climbed 0.81%.
In the Asian markets on June 4 morning, apart from Staraits Times, all indices — nikkei, Hang Seng, Tiwan Weighted, KOSPI, Shanghai Composite — were trading in the green. On June 3, all the three major European indices — FTSE of London, CAC of Paris and DAX of Germany — all closed in the green.
Howebver, the Indian rupee fell 22 paise to settle at 85.61 against the US dollar on June 3. The Indian curency was pulled down by a firm greenback and selling pressure in the secondary market. Traders are also waiting for cues from the RBI monetary policy announcements, which is expected to slash Repo Rate by at least 25 points.
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