The Indian stock market delivered negative performance on Thursday, June 1 on the back of unexpected GDP deceleration. Specifically, India’s GDP increased 6.1% y-o-y in 4Q, while analysts had projected 7.1% y-o-y vs. 7% y-o-y in the previous quarter. Notably, investors are awaiting the central bank’s key rate decision at the coming meeting on June 7. The regulator is expected to hold the key rate steady at 6.25% despite downbeat growth data. Recapping the benchmarks, the Nifty 50 edged down 0.05% to 9,616.10, and the BSE Sensex eased 0.03%, settling at 31,137.59. By 10:55 GMT, USD/INR traded up 0.02% to 64.531, while EUR/INR weakened 0.14% to 72.4346. The 10-year Indian government bond yield stood at 6.648%. Real estate market participant Prestige Estates Projects advanced 3.33% after reporting a 31% net income rise in 4Q. Also, EBITDA increased 14% q-o-q. Automaker Mahindra & Mahindra gained 0.59% as the company said sales were up 3% y-o-y to 41,895 vehicles in May. The session’s underperformers included automaker Maruti Suzuki, which shed 0.89% as sales increased 11.3% in May, missing expectations. The daily chart shows that the BSE Sensex is hovering near the upper line of Bollinger Bands, while the Slow Stochastic Oscillator and the RSI are in overbought territory. Consequently, a southward movement can be expected in the short term.