Sensex, Nifty Hit Record Highs as Nifty Bank index reached a new intraday record high of 51,133.20.
Indian equity markets surged over 3% on June 3, with the Sensex and Nifty up by over 3% due to the BJP-led NDA’s win in the exit poll, GDP data, early monsoon, higher GST collections, and positive global markets.
Sectors and stocks
The BSE Sensex and Nifty50 reached record highs due to buying across sectors, with the Nifty Bank index also reaching a new record high. Sectoral indices saw gains, with capital goods, PSU Bank, oil & gas, power, and realty increasing.
Investor wealth increased by Rs 14.18 lakh crore as BSE-listed companies’ market capitalisation rose to Rs 426.31 lakh crore. Bank of Baroda, IOC, and Navin Fluorine International experienced a volume spike of over 300 percent. Over 250 stocks reached 52-week highs on the BSE, including Adani Enterprises, Adani Ports, Axis Bank, Bharti Airtel, and more.
June 04 Forecast
The Nifty broke above the previous swing high of 23110, indicating a potential next leg of upmove. The psychological level of 23000 is key support, and both price and momentum indicators suggest continuation of the rally. Bank Nifty hit an all-time high, and the next target is 53960 – 54000 zone. The level of 50000 is crucial for short-term support.
Indian equities began June with a high of 23,338 but fluctuated to 23,263.90, with PSU Banks and Energy leading the day. Broader markets showed mixed trends, with Midcaps moving with the Frontline Index and Smallcaps underperforming. The general election outcome is expected to influence market volatility.
| FII Bought | 6,850.76 Cr |
| DII Bought | 1,913.98 Cr |
Indian Market Stocks
| Sensex | 2,507.47 | +3.39% | 76,468.78 |
| Nifty 50 | 733.20 | +3.25% | 23,263.90 |
| Nifty Bank | 1,996.00 | +4.07% | 50,979.95 |
Market Movers
| Adani Ports | 146.55 10.20% | Infosys | -29.05 -2.02% |
| NTPC | 32.80 9.14% | HCL Tech | -19.75 -1.48% |
| SBI | 75.30 9.07% | Dr Reddys Labs | -81.35 -1.39% |
| Power Grid Corp | 27.65 8.92% | LTIMindtree | -52.50 -1.12% |
| ONGC | 19.75 7.47% | Divis Labs | -32.80 -0.75% |
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Indian indices opened positively, with Sensex and Nifty reaching 76,000 and 23,100, respectively. Top gainers included Divis Labs, IndusInd Bank, Axis Bank, LTIMindtree, and Adani Ports, while losers included Adani Enterprises, Wipro, Grasim Industries.
Indian indices opened positively, with Sensex and Nifty reaching 76,000 and 23,100, respectively. Top gainers included Divis Labs, IndusInd Bank, Axis Bank, LTIMindtree, and Adani Ports, while losers included Adani Enterprises, Wipro, Grasim Industries.
Indian indices opened positively, with Sensex and Nifty reaching 76,000 and 23,100, respectively. Top gainers included Divis Labs, IndusInd Bank, Axis Bank, LTIMindtree, and Adani Ports, while losers included Adani Enterprises, Wipro, Grasim Industries.
Sensex Sensex Sensex
Sensex After four weeks of increases, Sensex and Nifty fell 2% for the first time After four weeks of increases, Sensex and Nifty fell 2% for the first time
The Nifty has experienced a decline, closing the day around 160 points lower. The daily charts show no follow-through buying interest after a breakout, and selling pressure at higher levels could lead to a slipping back into the consolidation zone. The Bollinger bands are contracting, indicating a range contraction. The Bank Nifty has not maintained positive momentum, and it could slip towards the 46900-46800 range. The overall trend is bullish, with an intermediate corrective phase in progress. Short-term weakness could lead to a decline towards the 22200-22250 range.
The Nifty has experienced a decline, closing the day around 160 points lower. The daily charts show no follow-through buying interest after a breakout, and selling pressure at higher levels could lead to a slipping back into the consolidation zone. The Bollinger bands are contracting, indicating a range contraction. The Bank Nifty has not maintained positive momentum, and it could slip towards the 46900-46800 range. The overall trend is bullish, with an intermediate corrective phase in progress. Short-term weakness could lead to a decline towards the 22200-22250 range.
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