Sensex, Nifty 50 rebound after 3-day losing streak; Eternal lead gains, Realty stocks drag, SPARC & ABFRL tumble

Snapping a three-day losing streak, benchmark indices rebounded on Wednesday due to positive global cues and investors risk appetite. Sensex settled with marginal gains of 260.74 pts or 0.32 per cent at 80,998.25 and Nifty 50 was up 77.70 pts or 0.32 per cent to 24,620.20. The volatility index was down nearly 5 per cent.

“The domestic market traded in a narrow range with a mildly positive bias, supported by favourable global cues such as strong US job data and signs of easing US-China trade tensions. Mid- and small-cap stocks outperformed, driven by better than estimated earnings growth and moderation in valuation,” Vinod Nair, Head of Research, Geojit Investments Limited, said.

Nifty midcap 100 and smallcap 100 advanced 0.71 per cent and 0.73 per cent, respectively.

However, large block transactions and rupee depreciation held the broader market cautious. “The ongoing RBI Monetary Policy Committee meeting added a layer of speculation, especially with market participants divided over the extent of a potential rate cut,” Vikram Kasat, Head - Advisory, PL Capital, said. 

Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services, expects the market to remain in consolidation mode, tracking global markets and macro-economic cues, while stock-specific action would continue on the back of sectoral developments.

According to Ajit Mishra – SVP, Research, Religare Broking Ltd, the pause in the index can largely be attributed to the stability in banking stocks and a noticeable cool-off in the India VIX.

Mishra advised investors to maintain a cautious stance ahead of the weekly expiry on Thursday. “Additionally, focus should remain on a stock-specific trading approach, given the rotational buying observed across various themes.”

All sectoral indices except realty ended in positive territory. Metal and energy were the top performers. Aditya Gaggar Director of Progressive Shares, added, “railway stocks regained their lost momentum in today’s trade.”

Defence counters witnessed continued traction following sectoral momentum.

Top movers today

Among Nifty 50, Eternal, Jio Financial, IndusInd and Tata Motors emerged as top gainers. Bajaj Finserv, Trent and Eicher Motors depreciated the most.

Shares of Eternal led the gainers of Nifty 50 with over 3 per cent increase. Jio Financial followed with 2 per cent gain. IndusInd Bank, Tata Motors and Bharti Airtel gained close to 2 per cent.

On the flip side, Bajaj Finserv, Trent and Eicher Motors depreciated 1-2 per cent. Shriram Finance and Axis Bank also slipped to close among major laggards.

Nearly 1,650 stocks advanced and 1,236 declined among the 2,978 stocks that were traded on the National Stock Exchange. GRSE, KPI Green and IGIL were among 105 stocks that hit upper circuit, while 62 stocks including SPARC hit the lower circuit.

58 stocks such as AstraZeneca, BSE, Bharti Hexacom, Dodla and CCL hit 52-week high, and 30 shares including Aditya Birla Fashion hit 52-week low.

Swan Energy, GRSE, Inventurus Knowledge Solutions, AsterDM and RITES zoomed 5-10 per cent among smallcap. RVNL and Policy Bazaar zoomed 6-7 per cent among midcap.

Multiple block deals, including in Tata Technologies and Indegene, capped upside in midcaps, according to PL Capital.

In addition, major losers of realty stocks include Sobha, Brigade and Oberoi Realty.

On BSE, Ircon International, Reliance Infrastructure and Railtel zoomed 11-14 per cent. Swan Energy and Nava also soared. Sun Pharma Advanced Research Company (SPARC) and Aditya Birla Fashion and Retail (ABFRL) tumbled 11-20 per cent.

Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, said, “Rupee traded weak by 25 paise at 85.87, inching closer to the 86.00 mark, as foreign investors remained in sell mode ahead of the RBI policy announcement scheduled for Friday, June 6. Sentiment remained under pressure due to persistent fund outflows and the dollar index rising above the 99.00 level. With key economic data lined up from the US, volatility is expected to stay elevated. The rupee is seen trading in a range of 85.50 to 86.40.“

Asian indices ended in the positive on optimism over trade talks between the US and Chinese President this week. 

US markets ended in the positive territory on Tuesday.

FIIs offloaded equities worth ₹2,853.83 crore on Tuesday, exchange data showed. Brent crude climbed 0.38 per cent to $65.92 a barrel.

Published on June 4, 2025