It was another choppy session for Indian markets on Thursday, 4 June, as both headline indices remained range-bound and ended with modest gains. Weak global cues and rising crude oil prices kept investor sentiment subdued, preventing bulls from taking control of Dalal Street.
The Nifty 50 and Sensex closed 0.14% and 0.03% higher at 23,396 and 74,368, respectively. The broader market, however, outperformed the benchmark indices, with both the Nifty Midcap 100 and Nifty Smallcap 100 indices rising 0.43% and 0.52%, respectively.
Investors navigated heightened volatility in the markets as conflicting statements from the US and Iran regarding a potential near-term peace deal kept traders cautious about taking fresh positions. Although crude oil prices softened during the session, they continued to remain elevated, sustaining concerns over potential interest rate hikes.
US President Donald Trump said on Wednesday that progress in negotiations with Iran could be achieved as early as this weekend. Despite these diplomatic and political signals, tensions in the region remain elevated.
Both Iran and the US recently exchanged attacks, with Tehran resuming strikes on neighbouring countries. Meanwhile, US forces reportedly carried out strikes on Qeshm Island in response to attempted attacks by Iran.
While Indian equities struggled to gain momentum, US and select Asian markets have been scaling multiple record highs, driven by the AI-led rally. This has made domestic stocks relatively less attractive for overseas investors and has also weighed on India’s position in global market capitalisation rankings.
PhysicsWallah rallies; capital goods and financial stocks see strong buying
PhysicsWallah emerged as the top performer, surging 15.7% to ₹106.5 apiece after the edtech firm scrapped plans to lend directly to students through its finance unit. The rally also ended the stock’s five-day losing streak.
Cemindia Projects, Anant Raj, Zen Technologies, RHI Magnesita India, Himadri Speciality Chemical, Blue Jet Healthcare, Force Motors, Vijaya Diagnostic Centre, and Tejas Networks all closed with gains of over 6%.
Extending its bull run for the third straight session, IIFL Finance shares gained another 5.7% to settle at a four-month high of ₹530.30 apiece. Poly Medicure also posted a strong gain of 5% to close at ₹1,405 apiece.
Select capital goods stocks also witnessed strong buying interest, with Hitachi Energy India, CG Power and Industrial Solutions, Timken India, and Suzlon Energy rising between 2% and 4%. Among Adani Group stocks, Adani Total Gas ended the session with a solid gain of 3.7%.
After remaining under pressure in recent sessions, Voltas shares rebounded 4.2% to ₹1,286, marking the stock’s biggest intraday jump since February 2026.
Meesho, BHEL and Nalco among top laggards in choppy session
On the losing side, Meesho extended its losing streak to the eighth straight session, falling another 5.7% to ₹165.3 apiece. Zensar Technologies also remained under pressure for the second consecutive day, declining 5.6% to ₹481.55 apiece.
National Aluminium ended the session with a cut of 5.2%, while Bharat Heavy Electricals lost 4.2% of its value to close at ₹389 apiece.
Other major losers among Nifty 500 stocks included Newgen Software Technologies, Gabriel India, Techno Electric & Engineering, Ather Energy, NMDC Steel, Patanjali Foods, Steel Authority of India, and Sobha, all of which declined more than 3%.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.