The Indian stock market resumed its losing run after a one-day hiatus on Wednesday, 3 June, although it closed significantly off the day’s low, signalling some low-level buying by investors.
BSE Sensex closed the session 850 points off the day’s low at 74,346.17, shedding just 304 points or 0.41%. It had slumped over 1,000 points in intraday deals today. Meanwhile, NSE’s Nifty 50 index also ended sharply above its day’s low of 23,151. The 50-pack index settled the session at 23,406, down 78 points or 0.33%.
The Indian benchmark indices have now fallen in five of the last six trading sessions.
The broader market trend was mixed. Nifty Midcap 100 index underperformed as it shed 0.40%. Nifty Smallcap 100, meanwhile, lost just 0.16%.
Stock market today: 10 key highlights
Here are 10 key highlights from the Indian stock market today:
1. What moved the market today?
Investor sentiment remains cautious as the lack of meaningful progress in the ongoing US-Iran negotiations continues to fuel concerns over global energy supplies, inflationary pressures and broader macroeconomic stability.
Gulf hostilities flared anew on Wednesday, with the US military saying Iranian missile attacks on Bahrain, Kuwait and other regional targets either were thwarted or unsuccessful, as diplomacy between Washington and Tehran showed little progress. Lack of clarity on the opening of the Strait of Hormuz drove oil prices by over 1% higher. Brent futures traded at $97 per barrel today.
As a major oil importer, India faces risks of higher inflation, a weaker rupee (around 95+ per USD), and pressure on corporate margins, said Santosh Meena of Swastika Investmart.
Moreover, foreign investors continue to offload Indian stocks in favour of other markets, creating pressure on the markets.
“After witnessing a brief recovery in the previous session, the Nifty resumed its downward trend and fell as much as 1.2% on Wednesday amid persistent geopolitical tensions in West Asia, concerns over elevated crude oil prices and persistent FII outflows. However, value buying at lower levels helped the index recover most of its losses and close 0.3% lower at 23,405,” said Siddhartha Khemka – Head of Research, Wealth Management, Motilal Oswal Financial Services.
Markets were also cautious ahead of the RBI’s Monetary Policy Committee decision (June 3-5), with expectations of rates on hold but a potentially hawkish tone on inflation, said Meena.
2. Top Nifty 50 losers today
Thirty Nifty 50 stocks closed in the red today as the market resumed its losing run. All top five losers belonged to the IT space as the index witnessed its worst daily fall since February 2026.
Tata Consultancy Services (TCS) share price crashed 8.25%, Tech Mahindra lost 6.45%, HCL Tech shares dipped 5.31%, Infosys stock 3.96% and Wipro 2.83%.
ITC, Eternal, L&T and Adani Enterprises, along with Jio, SBI Life and Tata Consumer Products, were other stocks that declined by 1% or more today.
3. Top Nifty 50 gainers today
Healthcare major Apollo Hospitals led the winners, with a 2.59% gain. It was followed by Tata Motors Passenger Vehicles, IndiGo, Max Healthcare and SBI, which rose 1.5% to 2% today.
4. Sectoral watch: IT butchered; banks shine
Sectorally, Nifty IT was the top loser today as it cracked 5.57%, snapping its 3-day bull run, due to profit-booking on an overextended relief rally. The market is starting to re-rate the traditional labour-arbitrage, billable-hour model as artificial intelligence automates parts of the delivery chain, believe analysts.
Realty, FMCG, Consumer Durables, Media, Metals and Oil & Gas were among the other losers, declining up to 1.3%.
Nifty PSU Bank and Nifty Private Bank were the lead sectoral gainers, rising 1.70% and 0.70%, respectively. Nifty Pharma gained 0.33% and the Healthcare index added 0.54%.
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