Market Opening Bell 4 June 2026: Sensex loses 500 points

Indian equities opened sharply lower on Thursday, with the Sensex down about 500 points near 73,900 and the Nifty 50 below 23,300, as persistent foreign selling, elevated crude prices and weak global cues kept sentiment cautious.

Market Overview

Index	4 Jun 2026 Open / Early Trade	Move & % Change	Comments
Sensex	approx. 73,890	about -456 pts (-0.6%)	Opened deep in red after gap down, tracking global weakness.
Nifty 50	approx. 23,323	about -83 pts (-0.35%)	Slipped below 23,300, extending prior session’s decline.
Nifty Midcap 100	NA (early trade)	down up to 0.3%	Broader markets weaker but losses milder than large caps.
Nifty Smallcap 100	NA (early trade)	down up to 0.3%	Traded in red alongside frontline indices.
India VIX	16.28	+6%	Volatility gauge spiked, signalling heightened uncertainty.

Note: figures are approximate; final exchange data not available at time of publication.

• Nifty 50 resumed its downtrend after closing at 23,405.60 on Wednesday.
• Sensex had fallen 303.67 points to 74,346.17 in the previous session.
• Market breadth at open: 1,242 declines, 1,069 advances, 128 unchanged on NSE.
• Gift Nifty traded around 23,315–23,346, indicating a gap-down start.

Key Market Statistics

Statistic	Value/Change	Context
FII flows (Wed, provisional)	₹5,616.56 crore net sold	Persistent overseas selling weighing on indices.
DII flows (Wed, provisional)	₹5,740.89 crore net bought	Domestic institutions offset part of FII outflows.
Rupee (early trade Thu)	95.69 per USD, +7 paise	Mild recovery, but sentiment cautious amid oil and policy risk.
India VIX	16.28, +6%	Rising volatility after sharp swings in previous session.

• FIIs sold ₹12,274.6 crore over the last two sessions, per exchange data cited in commentary.
• “The recent declining market highlights the increasing sensitivity of domestic equities to geopolitical developments,” said Siddhartha Khemka, Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.

Sectoral Action

Sector/Index	Direction (approx.)	Key Drivers
Nifty IT	down nearly 1% at open	Followed prior 5.5% slide on profit booking and global tech weakness.
PSU Banks	mixed to positive (previous close)	Buying interest supported Wednesday’s intraday recovery.
Private Banks	mixed to positive (previous close)	Financials helped Nifty rebound from 23,150 on Wednesday.
Pharma & Healthcare	up in prior session	Defensive buying aided broader market support.
Realty & FMCG	down in prior session	Faced selling pressure amid risk-off mood.

Note: figures are approximate; final exchange data not available at time of publication.

• All sectoral indices opened in the red on Thursday, with IT leading losses.
• Previous session saw sharp rotation out of IT into banks and defensives.

Key Movers

Stock	Sector	Notable Factor
Infosys	IT	Among top Sensex losers at open, tracking global tech weakness and profit booking.
ICICI Bank	Banking	Featured in early Sensex losers despite prior-day bounce in financials.
Bharti Airtel	Telecom	Traded lower in opening trade, contributing to index drag.
Kotak Mahindra Bank	Banking	Declined at open amid broader financials volatility.
Reliance Industries	Energy & Telecom	Early losses weighed on benchmarks.
Asian Paints	Consumer	One of the few Sensex names with marginal gains at open.
InterGlobe Aviation (IndiGo)	Aviation	Shares down nearly 30% from peak after operational challenges this year.
Rajesh Exports	Gems & Jewellery	Hit 5% lower circuit after SEBI interim order alleging revenue inflation.
Lenskart	Consumer/Tech	Fell about 2% after a ₹2,873 crore stake sale by SoftBank.

• SEBI barred Rajesh Exports Chairman Rajesh Mehta from trading in company shares after a forensic probe.
• IndiGo continues to face pressure from pilot shortages and schedule disruptions.

Technical Outlook on Nifty, Sensex and Bank Nifty

• “Overall, the technical setup remains weak with benchmark indices trading below key moving averages,” said Aakash Shah, Technical Research Analyst, Choice Equity Broking Private Limited.
• He added that unless Nifty holds above 23,150 and reclaims the 23,700 zone, bears may retain control.

• Nifty 50 key levels cited by multiple analysts:

– Immediate support: 23,150–23,250 zone.

– Critical downside: 23,000 if 23,150 breaks decisively.

– Near resistance: 23,500, broader band 23,550–23,700.

– Major resistance: 23,800–24,000, coinciding with 50-day EMA and prior rejections.

• Sensex levels (intraday view):

– Support: around 74,000; below this, possible test of 73,700–73,500.

– Resistance: 74,600–75,000 on any pullback.

• Bank Nifty (previous close 54,185.95):

– Immediate resistance: 54,500–54,800; further up at 55,100–55,500 and 55,400 as a key barrier.

– Support: 53,700–53,800, with stronger base near 53,000.

– Index trades below key moving averages; follow-through buying needed to sustain pullback.

• “We remain stuck in a range of 23,126–23,500, with 22,800–23,700 seen as the larger range,” said Anand James, Chief Market Strategist, Geojit Investments Limited.

Global Cues and Macro Backdrop

Market/Asset	Movement	Notes
Gift Nifty	at 23,315–23,346, down vs futures close	Signalled gap-down open for domestic indices.
Japan Nikkei 225	about -1.4%	Fell on US-Iran tensions and inflation worries.
Japan Topix	about -0.9%	Tracked regional risk-off sentiment.
South Korea Kospi	about -2%	Declined sharply on energy and growth concerns.
US Dow Jones	-1.21% (Wed close)	Dragged by financials and tech on Middle East escalation.
S&P 500	-0.74%	AI-led gains offset by war-driven cost pressures.
Nasdaq Composite	-0.89%	Mixed moves in large-cap tech and chip names.
Brent crude	around $97.14, -0.69%	Eased after Israel-Lebanon ceasefire, but remains elevated.
WTI crude	around $95.4, -0.65%	High levels keep inflation and CAD concerns alive.
Spot gold	around $4,450/oz, +0.4%	Benefited from safe-haven demand and softer dollar.

Note: figures are approximate; final market data not available at time of publication.

• Escalating US-Iran conflict and broader Middle East tensions continue to drive risk-off trades.
• Iran’s foreign minister flagged “no tangible progress” in talks, while US President Donald Trump voiced optimism about a possible deal.
• RBI’s Monetary Policy Committee outcome on 5 June remains a key domestic event, with focus on stance and commentary on inflation and rupee.

Strategy Views

• “In the near term, headwinds are stronger for the market than tailwinds,” said VK Vijayakumar, Chief Investment Strategist, Geojit Investments.
• He cited “continuing uncertainty in West Asia and big and sustained FPI selling” as key drags.
• Vijayakumar flagged aggressive FPI short positions in derivatives as a risk, but noted that weakness could offer long-term opportunities in quality banks, pharma, auto and auto ancillaries.

• “Given the prevailing uncertainty, we continue to maintain a cautious stance and recommend a stock-specific approach with strict risk management,” said Ajit Mishra, SVP Research, Religare Broking Ltd.

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