The ‘s benchmark indices, Sensex and Nifty 50, snapped their four-day losing run on Tuesday, 2 June, amid gains in IT heavyweights and value buying.
After losing almost 3% in the last four trading days amid the and relentless selling by foreign investors, the BSE barometer Sensex closed the day at 74,650, up 383 points or 0.52%, and its NSE counterpart Nifty 50 ended 101 points or 0.43% higher at 23,484.
Infosys, (TCS), and HCL Technologies were among the top index contributors in trade today.
The broader markets also gained but underperformed the benchmark indices. NSE Midcap 100 added 0.19%, and the rose 0.40%.
Indian stock market today: 10 key highlights
Here are 10 key highlights from today’s trading session of the Indian stock market:
1. What moved the markets today?
Vinod Nair, Head of Research, Geojit Investments, said, “Markets recovered from initial losses, led by gains in the IT sector, while continued accumulation in large-cap stocks reflected comfort with valuations, as the Nifty 50 trades closer to its long-term averages than the relatively richer valuations in broader markets.”
Despite ongoing delays in a Middle East truce, global sentiment remained stable, highlighting resilience in risk appetite, Nair added.
With the earnings season largely concluded, investor focus is expected to move to key macro factors including , inflation trends, RBI policy, and liquidity conditions.
2. Top Nifty gainers and losers
TCS, Infosys, HCL Technologies, and Wipro were among the top Nifty 50 gainers today, rising up to 7%. On the other hand, NTPC led the losers with a 3% decline. Axis Bank, Power Grid, HDFC Life, Dr Reddy’s Labs and Bajaj Auto were among other stocks that closed 1-1.7% lower.
3. Sectoral watch: IT leads with 4% rise; pharma bleeds
The Nifty IT index was the top-performing index today as it rose 4.3%, taking its gains to 7% in two sessions.
“Recent commentary from global software companies indicates that rising AI adoption is not only benefiting AI capex and LLM vendors, but also driving demand for software companies,” Sandeep Shah, director of Equirus Securities, was quoted as saying by Reuters.
Auto, FMCG and consumer durables were among the other top sectoral gainers today. On the other hand, pharma emerged as the top laggard with over 0.8% fall.
4. Most active stocks today
was the most-actively traded stock today as 54.15 lakh shares of the telecom player changed hands today. The stock ended the day 1.4% higher.
JP Power followed suit as 27.56 crore of its shares were traded in intraday deals. Since Adani Power’s stake purchase announcement in the company, JP Power shares have been hogging the limelight.
NHPC, YES Bank and IFCI were among other actively traded stocks today in volume terms.
5. Stocks at 52-week highs
Seventy-four stocks hit 52-week highs today, with Apollo Micro Systems, HFCL, IFCI and Sky Gold among some of the prominent names that achieved this feat.
6. Stocks at 52-week lows
On NSE, 84 stocks hit their 52-week low levels today. Some of these names were Bajaj Electricals, EID Parry, Havells, ITC, Swiggy, SBI Card and Tata Capital.
7. Price band hitters
NSE data shows that 124 stocks rose to their upper bands while 125 slipped to their lower price bands today. Meanwhile, some 20 stocks hit both their bands.
Newgen, HFCL, Coffee Day, Subex and E2E were stocks that rose to their upper limits. On the other hand, Vidya Wires, Axiscades, Hilton Metal Forging and Parsvnath Developers were some of the stocks that touched lower bands.
8. Advance-decline ratio
On the NSE, the advance-decline ratio favoured buyers. Some 2,034 stocks gained in trade today while 1285 stocks declined, and 107 were unchanged.
9. India slips in global m-cap rankings
The in global market cap rankings as South Korea’s AI-fuelled rally pushed it past Dalal Street. Its m-cap of around $5 trillion was higher than BSE-listed stocks’ valuation of $4.86 trillion.
10. Nifty technical outlook
Rupak De, Senior Technical Analyst at LKP Securities, said, “The Nifty opened lower and found support around 23,200 before recovering sharply towards 23,500. Despite the strong rebound, the overall trend remains weak, with the possibility of renewed downside pressure in the near term. The RSI continues to remain in a bearish crossover, indicating weak momentum. Additionally, the index is trading below the 20-day EMA on the daily timeframe, reinforcing the negative bias.”
On the downside, he sees immediate support at 23,420. A breach below this level could trigger another decline towards 23,200, he cautioned, while on the upside, resistance is positioned around 23,600.More to come.
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.