Top Stock Picks for Monday, June 2: Key Sectors to Watch in the Indian Market

As investors gear up for the first trading session of June, all eyes are on Monday, June 2, with the Indian stock market expected to open on a cautious yet hopeful note. With Lok Sabha election results approaching and global markets sending mixed cues, Monday’s session could offer key directional hints for the week ahead.

Sectoral rotation is in play, and several mid- and large-cap stocks are showing encouraging technical setups. Based on current trends and expert analysis, here are the top stock picks for Monday’s session.

🔝 Top Stock Picks for Monday, June 2

🏗 Larsen & Toubro (NSE: LT)

• CMP: ₹3,520

• Target: ₹3,660

• Stop Loss: ₹3,435

Why it’s on the radar: A consistent outperformer in the capital goods space, L&T has a strong execution pipeline, especially in defense and infra. Its order book remains robust, and any dip toward ₹3,450 is seen as a buying opportunity.

🏦 ICICI Bank (NSE: ICICIBANK)

• CMP: ₹1,155

• Target: ₹1,205

• Stop Loss: ₹1,130

What makes it attractive: With stable fundamentals and strong Q4 earnings, ICICI Bank is seen as a bellwether in the private banking space. Technical indicators suggest consolidation with upward bias.

🔋 BHEL (NSE: BHEL)

• CMP: ₹285

• Target: ₹310

• Stop Loss: ₹268

The bullish case: High delivery-based buying and volume spikes suggest renewed institutional interest. With increasing investments in energy and infrastructure, BHEL is benefiting from cyclical tailwinds.

🚗 Maruti Suzuki (NSE: MARUTI)

• CMP: ₹12,280

• Target: ₹12,700

• Stop Loss: ₹12,050

Why it matters now: Strong demand for passenger vehicles and recent hybrid model launches are supporting Maruti’s growth trajectory. Price action shows resilience amid broader market volatility.

🚄 IRFC (NSE: IRFC)

• CMP: ₹168

• Target: ₹182

• Stop Loss: ₹157

Investor angle: IRFC, the financing arm of Indian Railways, continues to benefit from government-led rail modernization. Its valuations remain attractive and the recent price action is encouraging.

🔍 Sector Snapshot

📊 Banking & Financials: With a favorable credit cycle and contained NPAs, the banking sector—especially private players—remains fundamentally strong. PSU banks like Bank of Baroda and Canara Bank are also catching up.

🏗 Capital Goods & Infra: Ahead of the Union Budget and amid pre-election spending, infra stocks are buzzing. Keep an eye on RVNL, BEL, and Siemens for momentum plays.

🚘 Auto & Ancillaries: The auto sector is gaining steam with falling raw material costs and improved urban demand. Tata Motors and Sona BLW are emerging as solid medium-term bets.

⚡ PSU & Energy: Government-backed companies in energy and transport continue to see strong volume. Stocks like NTPC, REC, and ONGC are maintaining upward trajectories.

💬 Expert View

Anita Mehra, Technical Analyst at SageOne Capital, says:

“Markets may remain range-bound ahead of the election verdict, but technically, Nifty holding above 22,950 would be a strong sign. We’re seeing accumulation in select large caps, especially in capital goods and banking.”

📝 Tips for Traders on Monday

• Watch opening cues: How the market opens on Monday will be critical. A gap-up with volume could validate bullish sentiment.

• Stick to quality names: Avoid speculative small caps. Focus on stocks with strong fundamentals and recent delivery-based accumulation.

• Keep an eye on election buzz: Political developments can trigger sharp intra-day movements, especially in PSU stocks.

Conclusion

With June kicking off and the election outcome drawing near, Monday’s session could set the tone for the rest of the week. Investors should brace for volatility but can look forward to promising opportunities in capital goods, auto, and private banking sectors. As always, proper risk management and informed decision-making remain essential.