Sensex Prediction for Monday, June 8 by experts: Indian benchmark ended lower on Friday amid profit-taking after the Reserve Bank of India lowered its growth expectations for the current fiscal year and forecast inflation to rise to 5.1 per cent. With the bearish trend in equities amid foreign fund outflows, geopolitical uncertainties and a weak trend in Asian markets, market participants are closely watching whether the BSE Sensex can hold crucial support levels when trading resumes on Monday, June 9.
Sensex at close on Monday, June 8
Created with AI. Errors are possibleOn the weekly front, the BSE benchmark declined 532.4 points, or 0.71 per cent, and the Nifty dipped 181.05 points, or 0.76 per cent.
Sensex gainers and losers on Friday, June 5
Sensex Prediction for Monday, June 8 by experts
The direction of the market on Monday will hinges heavily on whether the Sensex can hold its ground above key psychological cushions or if a lack of buying conviction will drag it into a deeper corrective phase.
Sensex Prediction for Monday, June 8 by Hitesh Tailor
According to Hitesh Tailor, Technical Research Analyst at Choice Broking, the index continues to trade within a defined range, indicating a neutral market bias with a cautious undertone.
He said, “On 5th June 2026, the BSE Sensex closed at 74,243.34, declining by 116.67 points (-0.16%). The index opened with a gap-up of nearly 270 points at 74,629.94 and touched an intraday high of 74,717.57 during the opening session. However, the higher opening attracted profit booking, resulting in a gradual sideways-to-negative trend throughout the day. Selling pressure intensified during the latter half, dragging the index to an intraday low of 73,988.75. Despite some recovery from lower levels, the Sensex eventually settled at 74,243.34, reflecting a cautious undertone and lack of sustained buying momentum near higher levels.”
Sector-wise, he said Hospitals, Utilities, Healthcare, Consumer Durables, PSU Banks, Realty, BANKEX, Healthcare, Services, Financial Services, Private Banks, FMCG, and Auto witnessed buying interest and outperformed during the session. “Banking and consumption-oriented sectors provided stability to the broader market despite volatility. On the other hand, Metal, Telecommunication, Commodities, Information Technology, Focused IT, Energy, Oil & Gas, Capital Goods, and Consumer Discretionary remained under pressure and underperformed. Weakness in metals and technology stocks weighed on overall sentiment, while selective strength in defensive and financial sectors helped limit the downside,” he added.
From a technical perspective, Tailor said Sensex faced resistance near the 74,700–74,800 zone after the gap-up opening and failed to sustain at higher levels, leading to profit booking during the session.
“The index slipped below the psychological 74,500 mark but managed to hold above the crucial 73,500–73,800 support zone, indicating that buyers continue to defend lower levels. The formation of a long intraday decline from the day’s high suggests caution at elevated levels, while sustained support near lower zones continues to prevent a deeper correction,” he cautioned.
For Monday’s trade, he said the overall market bias remains neutral with a cautious undertone as the index continues to oscillate between well-defined support and resistance levels.
“While buying interest near the 73,500–73,800 zone remains encouraging, repeated failure to sustain above the 74,800–75,000 resistance band indicates limited bullish conviction,” the analyst said, adding that a decisive breakout above resistance could revive upward momentum, whereas a breach below support may trigger fresh selling pressure and lead to a deeper corrective phase in the coming sessions.
Sensex Prediction for Monday, June 8 by Vipin Dixena
Echoing similar sentiments, SEBI-registered analyst Vipin Dixena noted that the Sensex is currently consolidating within a narrow trading range after a sharp correction.
“Sensex is consolidating within a well-defined range between 74,000 support and 74,700 resistance after a sharp corrective phase. The index remains below the 50 EMA, indicating that the broader short-term trend is still weak, though repeated defense of the 74,000 zone suggests selling pressure is easing,” Dixena stated.
He further stated the RSI is hovering around the neutral 50 mark, reflecting a balance between buyers and sellers and a lack of strong momentum in either direction.
“A breakout above 74,700 could trigger fresh buying and pave the way for 75,000–75,300, while a breakdown below 74,000 may resume the downtrend toward 73,500,” the SEBI-registered analyst cautioned traders.
Technical levels to watch on Monday, June 8
- Resistance Zone: 74,700 – 74,800 (with an extended cap up to 75,000). Repeated failures to sustain above this level reflect limited bullish conviction.
- Support Zone: 73,500 – 73,800. Buyers have consistently stepped up to defend this lower boundary, preventing deeper immediate damage.
RBI keeps repo rate unchanged at 5.25%
On Friday, the RBI kept its benchmark repo rate unchanged at 5.25 per cent and announced a raft of measures to attract foreign capital and support the rupee amid growing risks to growth and inflation from the prolonged West Asia conflict, elevated energy prices and global supply-chain disruptions.
To support the rupee, the measures included scrapping taxes on interest income and capital gains for eligible foreign investors in government securities, offering concessional terms for foreign-currency deposits from non-resident Indians and subsidising hedging costs for select offshore borrowings.
The Monetary Policy Committee (MPC) unanimously voted to leave the policy repo rate unchanged at 5.25 per cent, and continue with its “neutral” stance.
Sectoral indices on Friday, June 5
The BSE SmallCap Select index declined 0.24 per cent, while the MidCap Select index went up by 0.29 per cent.
Sectorally, metal dropped 1.62 per cent, Telecommunication (1.52 per cent), Commodities (0.95 per cent), IT (0.83 per cent), Focused IT (0.77 per cent), and Energy (0.72 per cent).
Hospitals climbed 1.45 per cent, Utilities (0.60 per cent), Realty (0.58 per cent), PSU Bank (0.56 per cent), Healthcare (0.47 per cent) and Consumer Durables (0.45 per cent).
The RBI lowered its growth expectations for the current fiscal year, projecting real GDP growth at 6.6 per cent in 2026-27, below the 6.9 per cent April forecast. The projection is also lower than the 7.6 per cent estimated for 2025-26.
It forecast inflation to rise to 5.1 per cent in 2026-27, with price pressures expected to peak at 5.9 per cent in the third quarter before easing.
The rupee appreciated 81 paise to close at 94.93 (provisional) against the US dollar on Friday after the Reserve Bank announced measures to support foreign capital inflows and strengthen forex liquidity.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,447.06 crore on Thursday, according to exchange data.
On Thursday, the Sensex went up marginally by 13.84 points, or 0.02 per cent, to settle at 74,360.01. The Nifty eked out a marginal gain of 10.95 points, or 0.05 per cent, to end at 23,416.55.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
