Indian equity markets opened lower on June 4 amid weak global cues and cautious investor sentiment ahead of the Reserve Bank of India’s upcoming monetary policy announcement.
The benchmark BSE Sensex opened about 400 points lower at 73,935, while the Nifty 50 slipped below the key 23,300 level in early trade. The market had also witnessed selling pressure during the previous two trading sessions, although some recovery was seen from lower levels.
Market participants remained focused on the Reserve Bank of India’s monetary policy review scheduled for June 5. Investors and analysts are expecting the central bank to share its assessment on interest rates, inflation trends, economic growth and the monsoon outlook. The policy announcement by RBI Governor Sanjay Malhotra is expected to influence near-term market direction.
Investors are particularly watching how the central bank balances support for economic growth while maintaining control over inflation. Market experts believe that a growth-oriented policy stance could provide support to equities.
Another key area of market focus is the possibility of tax relief for foreign investors. According to reports, the government has approved an ordinance aimed at providing tax-related relief to foreign institutional investors (FIIs) and global investment funds. A formal announcement on the measure could be viewed as a significant step toward attracting foreign investment into Indian capital markets. Investors expect such an initiative to improve market liquidity and strengthen investment sentiment.
Among Nifty constituents, the stocks that attracted attention on the upside in early trade included ONGC, Adani Enterprises, Adani Ports and Special Economic Zone, and Grasim Industries.
Stocks that remained under pressure included Trent Limited, Eicher Motors, Cipla, SBI Life Insurance and InterGlobe Aviation.
Investors were also closely tracking shares of Indian Energy Exchange, Angel One, BHEL and Rajesh Exports during early market activity.
