Sensex Today | Nifty 50 | Stock Market Highlights: Benchmarks give up RBI gains as IT, metals drag

Indian equities surrendered early RBI-policy gains to close marginally lower on Friday, with Sensex at 74,243 and Nifty 50 at 23,367, as profit booking in IT and metal stocks offset strength in rate-sensitive banks and realty. The rupee, however, posted its strongest single-day rise in two months after the Reserve Bank of India and the government unveiled measures to attract foreign capital and support the currency.

Market overview

Index	5 Jun 2026 Close	Move & % Change	Comments
Sensex	74,243	-117 pts (-0.16%)	Erased over 300-pt intraday gain after RBI’s cautious tone.
Nifty 50	23,367	-50 pts (-0.21%)	Closed below 23,400 after profit booking in IT and metals.
Nifty Bank	54,496	+188 pts (+0.35%)	Outperformed, fourth straight gain; rate-sensitive buying post policy.
Nifty Midcap 100	approx. 60,755	-212 pts (-0.35% approx.)	Broader market underperformed, midcaps saw stock-specific selling.
Nifty Smallcap 100	approx. flat to slightly lower	Marginal loss	Weak breadth, smallcaps tracked midcaps lower.
India VIX	15.75	-0.9% approx.	Volatility gauge eased despite intraday swings.

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

• Intraday, Sensex briefly rose over 300 points above 74,500 after the policy decision.
• Nifty 50 traded near 23,500 at the day’s high before reversing.
• RBI’s Monetary Policy Committee kept the repo rate at 5.25%, with a neutral stance.
• The central bank flagged risks from the West Asia conflict, elevated energy prices and supply disruptions.
• RBI cut its FY27 growth projection to 6.6% and raised inflation outlook to 5.1%.
• The hawkish tone prompted investors to reassess earnings and demand expectations.

Key movers: Nifty 50 gainers and losers

Top Gainers

Stock	Sector	Notable Factor
Adani Enterprises	Diversified	Rose about 2.4% after a reported block deal.
Hindustan Unilever (HUL)	FMCG	Gained around 2%; among top index supports.
Adani Ports	Ports & logistics	Advanced about 1.2–1.7% with broader Adani strength.
Bajaj Finance	NBFC	Rose over 1% on rate-sensitive buying interest.
Axis Bank / Dr Reddy’s Labs	Banking / Pharma	Added roughly 1.2–1.7% each on stock-specific interest.

Top Losers

Stock	Sector	Notable Factor
Wipro	IT	Fell about 3.1% after turning ex-record for ₹15,000 crore buyback.
Hindalco Industries	Metals	Declined up to 3% amid sector-wide weakness.
Trent	Retail	Dropped more than 2%; among biggest Sensex laggards.
Tata Consultancy Services (TCS)	IT	Lost up to 3%; IT index extended losing streak.
Coal India / Tata Steel	Metals	Shed up to 3% as metal index led sectoral losses.

• From the Sensex basket, Adani Enterprises, HUL, Adani Ports, Bajaj Finance, Axis Bank, M&M were key gainers.
• Hindalco, Wipro, Coal India, Trent, Tata Steel, Tata Consumer Products featured among major laggards.
• Zee Entertainment extended its recent rally, up nearly 19% over three sessions.

Sectoral action

Sector/Index	Direction (approx.)	Key Drivers
Nifty IT	down about 1%	Third straight decline; Wipro ex-buyback, TCS and LTIMindtree weak.
Nifty Metal	down about 1.6%	Hindustan Zinc, Hindalco, Tata Steel dragged the gauge.
Nifty Media	up about 3.5%	Led gains; ZEEL volumes strong on FIFA World Cup rights.
Nifty Realty	up about 2%	Benefited from unchanged repo rate and stable financing outlook.
Nifty Financial Services	up about 1.3%	Bajaj Finance, insurers and NBFCs saw strong buying.
Nifty Bank	up about 0.35%	PSU and private banks gained on rate pause and rupee support.
Nifty Auto	up about 0.8%	Select names like M&M, Tube Investments advanced; sector gains mixed.

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

• All 16 major sectoral indices opened in the green ahead of the policy decision.
• Post-policy, rate-sensitive pockets, especially realty, banks, financials and autos, outperformed.
• Nifty PSU Bank rose about 1.7%; Nifty Private Bank gained around 0.7%.
• Metal, FMCG, IT and oil & gas indices saw profit taking later in the session.
• Market breadth on NSE was nearly flat: about 1,623 stocks advanced, 1,694 declined, 94 were unchanged.

RBI policy, flows and rupee

Statistic	Value/Change	Context
Repo rate	5.25%, unchanged	MPC opted for a pause with a neutral stance.
FY27 GDP forecast	Cut to 6.6% from 6.9%	Reflects concerns over global risks and domestic demand.
FY27 inflation forecast	Raised to 5.1% from 4.6%	Higher energy prices and supply disruptions cited.
USD/INR close	94.9450	Rupee gained 0.9%, best day since 2 April.

• RBI highlighted risks from the prolonged West Asia conflict and elevated crude prices.
• The central bank reiterated its readiness to prevent disorderly currency moves.
• Forex reserves around $682 billion were cited as a buffer against external shocks.
• RBI expanded the Fully Accessible Route bond universe and relaxed some FPI debt limits.
• A temporary FCNR(B) deposit window and concessional FX swap facilities were announced.
• The government exempted foreign investors from capital gains tax on interest from government securities.
• The measures aim to draw more stable foreign debt inflows and ease rupee pressure.

• “Domestic equities closed flat as the monetary policy outcome aligned with expectations, while supportive measures announced by the RBI governor helped strengthen the rupee. However, the downward revision in growth forecasts and a calibrated inflation outlook prompted profit booking as investors reassessed near‑term demand and earnings prospects,” — Vinod Nair, Head of Research, Geojit Investments.

Rate-sensitive sectors: banks, realty, autos

• Banking stocks saw broad-based gains after the policy announcement.
• Within Nifty Bank, IndusInd Bank rose about 2%, leading index constituents.
• YES Bank, Punjab National Bank, Canara Bank gained more than 1.5% each.
• Bank of Baroda, Union Bank, AU Small Finance Bank added over 1%.
• Axis Bank, SBI, IDFC First Bank, ICICI Bank traded 0.5–1% higher.
• HDFC Bank, Federal Bank, Kotak Mahindra Bank remained in negative territory.
• In financial services, Bajaj Finance climbed more than 3%, topping the pack.
• Max Financial, HDFC Life, REC gained over 2% each.
• ICICI Lombard, Shriram Finance, Cholamandalam Finance, PFC, SBI Life, Jio Financial rose between 1–2%.

• “In Q4 banks reported a fairly strong quarter with credit growth having picked up meaningfully and asset quality metrics remaining resilient… competition for deposits and elevated cost of funds could keep net interest margin pressures intact in the near term,” — Rajesh Palviya, Head of Research, Axis Direct.

• Realty stocks were the strongest rate-sensitive performers, with almost all index names higher.
• Prestige Estates rallied more than 3.5%, while Lodha, Phoenix Mills gained over 2.5% each.
• Godrej Properties, Oberoi Realty added more than 1.5%; Anant Raj slipped over 1.5%.
• In autos, Tube Investments rose about 1.5%; Exide Industries, M&M, Uno Minda, Bharat Forge gained over 0.5%.
• Hero MotoCorp, Bosch, TVS Motor fell more than 0.5%, capping sector gains.

Technical outlook on Nifty 50

• Analysts noted Nifty is oscillating in a narrow band as it digests the policy outcome.
• The index is trading below key moving averages, keeping sentiment cautious.
• Momentum indicators like RSI remain weak, signalling lack of strong buying conviction.

• In the near term, Nifty is expected to consolidate between 23,300–23,500.
• A decisive move above 23,500 could open a rally towards 23,700 initially.
• Some commentary projected potential for a larger move towards 25,700 on a strong breakout.
• On the downside, support lies in the 23,230–23,200 zone.
• A breach below 23,200 may drag the index towards 23,050.

• “In the short term, the index is likely to consolidate within the 23,300–23,500 range. A decisive breakout above 23,500 could trigger a rally… while a breach below the 23,300 support level may lead to a sharp correction,” — Rupak De, Senior Technical Analyst, LKP Securities.

Broader market and weekly trend

• Nifty Midcap 100 fell about 0.35%; Nifty Smallcap 100 ended marginally lower.
• Hindustan Zinc, BSE, SAIL, Balkrishna Industries, Cochin Shipyard were among notable midcap losers.
• Go Digit General Insurance dropped about 9% from the day’s high after weak May data.
• On NSE, 111 stocks hit upper circuits and 93 touched lower price bands.
• Around 99 stocks printed 52-week highs, while 43 hit 52-week lows.

• For the week, Sensex and Nifty slipped over 0.5%, marking a second straight weekly decline.
• Midcaps underperformed, with the midcap index down more than 1%.
• Banking stocks outperformed on a weekly basis, with Nifty Bank closing higher.
• Among sectoral indices, capital markets, FMCG and realty posted the steepest weekly declines.

FAQs

Q: Why did Sensex and Nifty close lower despite the RBI holding rates?

• Investors booked profits after an initial relief rally as the RBI cut growth forecasts and raised inflation projections, signalling a cautious stance that tempered risk appetite in IT, metals and parts of the broader market.

Q: Which sectors benefited most from the RBI policy outcome?

• Rate-sensitive pockets such as banks, financial services, realty and select autos gained, helped by a status quo on the repo rate and measures to stabilise the rupee and attract foreign inflows.

Q: What are the key Nifty 50 levels traders are watching next week?

• Analysts highlight 23,300–23,500 as the immediate trading range, with support near 23,200–23,230 and resistance around 23,530–23,550; a sustained break on either side could set the next directional move.

Frequently Asked Questions

Why did Sensex and Nifty close lower despite the RBI holding rates?

Benchmarks reversed intraday gains as investors booked profits after the RBI cut its FY27 growth forecast, raised the inflation outlook and struck a cautious tone on global risks, which weighed on IT, metal and broader risk sentiment.

Which sectors gained after the RBI policy decision?

Rate-sensitive sectors led by banks, financial services, real estate and select auto stocks advanced, supported by an unchanged repo rate, policy stability and measures to support the rupee and foreign capital inflows.

What are the key technical levels for Nifty 50 in the near term?

Analysts see Nifty consolidating between 23,300 and 23,500, with support around 23,200–23,230 and resistance near 23,530–23,550. A break below 23,200 could target 23,050, while a move above 23,550 may open room towards 23,700.