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ICICI Direct has suggested a moderate bearish approach in the Bank Nifty index in the lead up to the RBI monetary policy. They suggest buying a June 2023 Bank Nifty 44,000 put at 270-275 while simultaneously selling a June 8 43,600 put at 125-130. The net debit is set at 145 with a target of 255, and the time frame is till weekly expiry. The analysts predict consolidation near 44,000 will continue and expect the index to find support near 43,500 levels.

The initial public offering (IPO) of LED lighting solution provider IKIO Lighting will open for subscription on June 6 and continue till June 8.

The Indian Nifty has seen gains of around 7% this quarter, largely driven by financials hitting record highs, with a focus on consolidation following a sharp rally. Aamar Deo Singh, Head Advisory at Angel One, says that while it is positive to observe smaller stocks in the midcap and small-cap sectors performing well, for any significant shift to bear market, frontline stocks need to be involved, bringing depth and instilling investor confidence. In other recent news, the real estate sector has seen a remarkable 26% surge in share price over Q2 2023, reflecting renewed investor interest.

IKIO Lighting has set a price band of Rs 270-285 per equity share for its upcoming IPO. The Noida-based company has reserved 50% of the offering for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors. The IPO comprises a fresh equity issue of up to Rs 350 crore and offer for sale of up to 90 lakh shares by selling shareholders. Meanwhile, Sonalis Consumer Products is set to launch an SME IPO on June 7 with a fixed price of Rs 30 per equity share.

Gold prices are set for their best weekly increase in two months as the dollar slides and US Treasury prices rise due to economic data uncertainty and mixed comments from Federal Reserve officials. While the recent debt ceiling deal has prompted market rallies and equities growth, it has also raised concerns over whether limited governmental spending could increase the odds of a recession, thus keeping gold prices buoyed. US non-farm payroll data will be imperative.

Advanced technologies have revolutionized the way traders operate in financial markets. Algorithmic trading, black-box trading, relies on computer programs to execute trades based on predefined rules and algorithms. Charting tools empower traders to visualize financial data, identify patterns, and create custom indicators and trading strategies. Advanced mobile trading apps and desktop trading software facilitate real-time data access, customized alerts, and educational resources. Overall, these innovations have made trading more accessible, efficient, and profitable, enabling traders to succeed in today’s dynamic and competitive markets.

Stock picker Shankar Sharma, the founder of GQuant Investech, prefers smallcaps when asked for investment advice, believing in diversification rather than a concentrated portfolio. Sharma is a believer that fund managers should manage public money during bear markets to ensure steady income. He sees India as an excellent investment opportunity, with the GDP set to grow spectacularly. Sharma is bullish on the benchmark Sensex hitting a landmark 1,00,000, with many public offers coming soon despite bad experiences with new tech firms.

Nilesh Shah of Kotak AMC has advised people not to try to predict the market, stating that more often than not, they will be wrong. Shah also emphasised the importance of management and governance, saying that people need to begin respecting these elements more in order to limit losses and make money in the stock market. His comments come in response to predictions made by other experts, including Chris Wood, who recently suggested that the Sensex index could hit 100,000 within the next five years.

A number of widely tracked companies have declared dividends with their March quarter results

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