The Indian stock market‘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 Middle East conflict 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, Tata Consultancy Services (TCS), HDFC Bank 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 Nifty Smallcap 100 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 monsoon progress, inflation trends, RBI policy, and liquidity conditions.
2. Top Nifty gainers and losers
TCS, Infosys, HCL Technologies, Adani Enterprises and Wipro were among the top Nifty 50 gainers today, rising up to 7% in intraday deals. 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.
