Stock picks of the day: Here's why Dabur and ACC are among today's buy ideas

Benchmark indices ended June 4 session in the red led by muted domestic sentiments.

Nifty opened with a gap-down and witnessed selling pressure throughout the session and finally closed the day 0.6 percent lower at 12,022.

The broader market indices, BSE Midcap & Smallcap outperformed the benchmark and closed lower by 0.2 percent each.

The sectoral indices exhibited mixed trend wherein IT, healthcare, oil & gas witnessed selling pressure and ended lower in the range of 0.8-1.6 percent, while capital goods, metals and telecom closed in the green.

We continue to maintain our cautious stance on the markets at higher levels in the near-term. The market participants would keep an eye on the RBI’s monetary policy (on June 6) as it would provide further direction to the market.

While a rate cut cannot be ruled out, we don’t expect any aggressive cut and believe that the RBI would await more data on the progress of monsoon and inflation.