{"id":14667,"date":"2026-06-03T10:45:19","date_gmt":"2026-06-03T10:45:19","guid":{"rendered":"https:\/\/lemonn.co.in\/blog\/?p=14667"},"modified":"2026-06-03T11:54:40","modified_gmt":"2026-06-03T11:54:40","slug":"sensex-nifty-market-highlights","status":"publish","type":"post","link":"https:\/\/lemonn.co.in\/blog\/market-updates\/sensex-nifty-market-highlights\/","title":{"rendered":"Sensex Today | Nifty 50 | Stock Market Highlights: Benchmarks recover from sharp intraday fall as PSU banks offset IT slide"},"content":{"rendered":"
\"Sensex<\/figure>\n\n\n

Indian equities reversed a deep morning selloff on Wednesday, 3 June, with the Sensex<\/strong> closing 304 points lower at 74,346.17<\/strong> and the Nifty 50<\/strong> ending 78 points down at 23,405.60<\/strong>, after reports of potential bond-market tax relief and ownership rule changes lifted sentiment from the day\u2019s lows.<\/p>\n\n\n\n

Market Overview<\/h2>\n\n\n\n
Index<\/strong><\/th>3 Jun Close<\/strong><\/th>Move & % Change<\/strong><\/th>Comments<\/strong><\/th><\/tr><\/thead>
Sensex<\/strong><\/td>74,346.17<\/td>-304 pts (-0.41%)<\/td>Recovered about 850 pts from intraday low near 73,492.<\/td><\/tr>
Nifty 50<\/strong><\/td>23,405.60<\/td>-77.96 pts (-0.33%)<\/td>Rebounded from low around 23,151 after policy reform buzz.<\/td><\/tr>
Nifty Bank<\/strong><\/td>approx. 53,100\u201353,700<\/td>down about 1% intraday<\/td>Hit near 53,027, later trimmed losses; trend still weak.<\/td><\/tr>
Nifty Midcap 100<\/strong><\/td>not stated<\/td>down 0.40%<\/td>Underperformed large caps, stayed in the red.<\/td><\/tr>
Nifty Smallcap 100<\/strong><\/td>not stated<\/td>down 0.16%<\/td>Marginal decline after recovering from deeper losses.<\/td><\/tr>
India VIX<\/strong><\/td>16.32<\/td>+6%<\/td>Volatility stayed elevated after morning crash.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Note: figures are approximate; final exchange data not available at time of publication.<\/p>\n\n\n\n

    \n
  • Indices fell over 1%<\/strong> in early trade before staging a sharp afternoon recovery.<\/li>\n\n\n\n
  • Intraday, Sensex<\/strong> slipped more than 1,150 points<\/strong> and Nifty 50<\/strong> over 300 points<\/strong>.<\/li>\n\n\n\n
  • Market cap erosion on BSE at the lows exceeded \u20b93 lakh crore<\/strong>, per intraday figures.<\/li>\n\n\n\n
  • Volatility spiked as India VIX climbed to the 16\u201317<\/strong> band.<\/li>\n<\/ul>\n\n\n\n

    Key Drivers<\/h2>\n\n\n\n
      \n
    • US\u2013Iran tensions<\/strong> escalated, with the US military reporting interception of Iranian missiles and drones in the Gulf.<\/li>\n\n\n\n
    • Brent crude<\/strong> traded near $97 per barrel<\/strong>, reviving concerns on India\u2019s import bill and inflation.<\/li>\n\n\n\n
    • The rupee<\/strong> weakened to around 95.50\u201395.71 per dollar<\/strong>, staying near record lows.<\/li>\n\n\n\n
    • Foreign investors<\/strong> remained net sellers, offloading about \u20b98,363 crore<\/strong> of equities on 2 June, as per exchange data.<\/li>\n\n\n\n
    • Reports indicated the government may cut taxes on foreign holdings of Indian bonds<\/strong> and remove some ownership caps<\/strong>, aiding the intraday rebound.<\/li>\n\n\n\n
    • Market focus stayed on the RBI\u2019s policy decision on 5 June<\/strong> amid renewed inflation worries.<\/li>\n<\/ul>\n\n\n\n
        \n
      • “The mild escalation in the West Asia conflict has again pushed up Brent crude price to close to $97 indicating no respite to India from the energy shock. The RBI commentary and actions on June 5 will be keenly watched by the market.” \u2014 VK Vijayakumar, Chief Investment Strategist, Geojit Investments.<\/li>\n<\/ul>\n\n\n\n

        Sectoral Action<\/h2>\n\n\n\n
        Sector\/Index<\/strong><\/th>Direction (approx.)<\/strong><\/th>Key Drivers<\/strong><\/th><\/tr><\/thead>
        Nifty PSU Bank<\/strong><\/td>up 1.7%<\/td>Buying in SBI and peers after morning selloff.<\/td><\/tr>
        Nifty IT<\/strong><\/td>down about 4\u20136%<\/td>Profit booking after recent rally; large caps fell up to 8%.<\/td><\/tr>
        Nifty Bank<\/strong><\/td>down about 1% intraday<\/td>Tracked broader risk-off; remained below key averages.<\/td><\/tr>
        Healthcare \/ Pharma<\/strong><\/td>down (exact % not stated)<\/td>Continued to lag after prior sessions\u2019 weakness.<\/td><\/tr>
        Oil & Gas<\/strong><\/td>down (exact % not stated)<\/td>Pressure from higher crude and macro worries.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

        Note: figures are approximate; final exchange data not available at time of publication.<\/p>\n\n\n\n

          \n
        • All major sectors traded in the red at the lows before selective recovery.<\/li>\n\n\n\n
        • PSU banks<\/strong> outperformed, closing higher despite intraday volatility.<\/li>\n\n\n\n
        • Consumer durables, FMCG and autos<\/strong> had seen buying in the previous session but participation was muted on Wednesday.<\/li>\n<\/ul>\n\n\n\n

          Top Gainers and Losers<\/h2>\n\n\n\n

          Top Gainers (large-cap focus)<\/h3>\n\n\n\n
          Stock<\/strong><\/th>Sector<\/strong><\/th>Notable Factor<\/strong><\/th><\/tr><\/thead>
          State Bank of India<\/strong><\/td>PSU Bank<\/td>Rose about 1\u20132% on index buying in PSU banks.<\/td><\/tr>
          ICICI Bank<\/strong><\/td>Private Bank<\/td>Gained around 1\u20132% as financials led rebound.<\/td><\/tr>
          Power Grid<\/strong><\/td>Power<\/td>Advanced 1\u20132%, aiding Sensex recovery.<\/td><\/tr>
          IndiGo (InterGlobe Aviation)<\/strong><\/td>Aviation<\/td>Climbed 1\u20132% despite higher ATF, tracking stock-specific interest.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

          Note: figures are approximate; final exchange data not available at time of publication.<\/p>\n\n\n\n

          Top Losers (large-cap focus)<\/h3>\n\n\n\n
          Stock<\/strong><\/th>Sector<\/strong><\/th>Notable Factor<\/strong><\/th><\/tr><\/thead>
          TCS<\/strong><\/td>IT Services<\/td>Slumped about 7\u20139% after recent AI-driven rally.<\/td><\/tr>
          Tech Mahindra<\/strong><\/td>IT Services<\/td>Fell around 5\u20136% on heavy profit booking.<\/td><\/tr>
          HCL Technologies<\/strong><\/td>IT Services<\/td>Declined about 3\u20135% after prior outperformance.<\/td><\/tr>
          Infosys<\/strong><\/td>IT Services<\/td>Dropped roughly 3\u20134% as Nifty IT turned weak.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

          Note: figures are approximate; final exchange data not available at time of publication.<\/p>\n\n\n\n

            \n
          • Nifty IT had gained over 6%<\/strong> in the previous three sessions before the reversal.<\/li>\n\n\n\n
          • Selling in heavyweight IT names exerted significant drag on both Sensex and Nifty.<\/li>\n<\/ul>\n\n\n\n

            Technical Outlook<\/h2>\n\n\n\n

            Nifty 50<\/strong><\/p>\n\n\n\n

              \n
            • Intraday low near 23,151<\/strong>; close at 23,406<\/strong> signalled strong intraday buying.<\/li>\n\n\n\n
            • Immediate support<\/strong> zones cited between 23,160\u201323,180<\/strong> and 23,270\u201323,250<\/strong>.<\/li>\n\n\n\n
            • Deeper support seen around 23,000<\/strong>, with further cushion near 22,800\u201322,960<\/strong>.<\/li>\n\n\n\n
            • Immediate resistance<\/strong> pegged at 23,410\u201323,430<\/strong>, then 23,530\u201323,550<\/strong>.<\/li>\n\n\n\n
            • A sustained move above 23,700\u201324,000<\/strong> is viewed as necessary to resume an uptrend.<\/li>\n<\/ul>\n\n\n\n

              Sensex<\/strong><\/p>\n\n\n\n

                \n
              • Support for day traders identified near 74,000\u201373,800<\/strong>.<\/li>\n\n\n\n
              • Resistance zones highlighted at 75,000\u201375,300<\/strong>.<\/li>\n<\/ul>\n\n\n\n

                Bank Nifty \/ Nifty Bank<\/strong><\/p>\n\n\n\n

                  \n
                • Touched an intraday low around 53,027<\/strong>, versus recent close near 53,700<\/strong>.<\/li>\n\n\n\n
                • Key support<\/strong> cited at 53,000\u201352,800<\/strong>, with a broader floor at 52,700\u201352,500<\/strong>.<\/li>\n\n\n\n
                • Resistance<\/strong> seen at 54,300\u201354,500<\/strong>, extending to 54,600\u201355,000<\/strong>.<\/li>\n\n\n\n
                • Analysts flagged a sideways to bearish bias unless the index reclaims the 20-day moving average<\/strong> near 54,300\u201354,600<\/strong>.<\/li>\n<\/ul>\n\n\n\n
                    \n
                  • “The index recovered smartly during the day but failed to reclaim the 20 EMA on the hourly chart, keeping the possibility of another decline alive.” \u2014 Rupak De, Senior Technical Analyst, LKP Securities.<\/li>\n<\/ul>\n\n\n\n

                    Global Cues<\/h2>\n\n\n\n
                    Market\/Asset<\/strong><\/th>Movement<\/strong><\/th>Notes<\/strong><\/th><\/tr><\/thead>
                    Brent crude oil<\/strong><\/td>about +1.1%<\/td>Hovered near $97.08<\/strong> a barrel on Middle East tensions.<\/td><\/tr>
                    WTI crude oil<\/strong><\/td>about +1.2%<\/td>Traded close to $94.92<\/strong> a barrel.<\/td><\/tr>
                    US equities (Dow)<\/strong><\/td>+0.45%<\/td>Closed higher despite geopolitical worries.<\/td><\/tr>
                    Japan Nikkei 225<\/strong><\/td>+2.17%<\/td>Hit a record high, tracking tech strength.<\/td><\/tr>
                    US 10-year yield<\/strong><\/td>up to ~4.46%<\/td>Higher yields kept risk sentiment cautious.<\/td><\/tr>
                    US 30-year yield<\/strong><\/td>up to ~4.97%<\/td>Firm yields supported dollar assets.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

                    Note: figures are approximate; final market data not available at time of publication.<\/p>\n\n\n\n

                      \n
                    • Asian markets traded mixed, with Japan rallying and Hong Kong futures indicating a weaker open.<\/li>\n\n\n\n
                    • The dollar index<\/strong> stayed near 99.2<\/strong>, while the yen hovered just below 160 per dollar<\/strong>.<\/li>\n\n\n\n
                    • Strong US job openings data reinforced expectations of higher-for-longer<\/strong> US rates.<\/li>\n<\/ul>\n\n\n\n

                      Key Market Statistics<\/h2>\n\n\n\n
                      Statistic<\/strong><\/th>Value\/Change<\/strong><\/th>Context<\/strong><\/th><\/tr><\/thead>
                      FII equity flows (2 Jun)<\/strong><\/td>-\u20b98,363 crore<\/td>Continued foreign selling weighed on sentiment.<\/td><\/tr>
                      India VIX<\/strong><\/td>16.32, up 6%<\/td>Signalled elevated near-term volatility.<\/td><\/tr>
                      Rupee close (3 Jun)<\/strong><\/td>95.71 per dollar, -35 paise<\/td>Stayed near record lows amid crude spike and outflows.<\/td><\/tr>
                      NSE advance\/decline<\/strong><\/td>1,379 up \/ 1,955 down \/ 108 unchanged<\/td>Breadth remained negative despite late recovery.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

                      Note: figures are approximate; final exchange data not available at time of publication.<\/p>\n\n\n\n

                        \n
                      • Persistent FII outflows and a weaker rupee kept macro risks in focus.<\/li>\n\n\n\n
                      • Domestic flows and value buying at lower levels helped limit closing losses.<\/li>\n<\/ul>\n\n\n\n

                        FAQs<\/h2>\n\n\n
                        \n
                        \n
                        \n

                        Why did the Sensex and Nifty fall in early trade today?<\/strong><\/h3>\n
                        \n\n

                        Escalating US\u2013Iran tensions<\/strong>, higher Brent crude near $97<\/strong>, a weaker rupee<\/strong>, and continued FII selling<\/strong> triggered broad-based risk-off sentiment, pulling Sensex<\/strong> and Nifty 50<\/strong> down over 1% intraday before recovery.<\/p>\n\n<\/div>\n<\/div>\n

                        \n

                        What triggered the intraday rebound in the market?<\/strong><\/h3>\n
                        \n\n

                        The rebound was driven by value buying<\/strong> and reports that the government may cut taxes on foreign investors\u2019 bond income<\/strong> and remove some ownership caps<\/strong>, which improved risk appetite and helped indices recover most losses.<\/p>\n\n<\/div>\n<\/div>\n

                        \n

                        Which sectors and stocks were most impacted?<\/strong><\/h3>\n
                        \n\n

                        IT stocks<\/strong> such as TCS, Infosys, HCL Tech and Tech Mahindra<\/strong> fell up to 7\u20139%<\/strong> after a recent rally, dragging indices lower, while PSU banks<\/strong> outperformed, with Nifty PSU Bank<\/strong> gaining about 1.7%<\/strong> and SBI<\/strong> among the key gainers.<\/p>\n\n<\/div>\n<\/div>\n

                        \n

                        Why did the Sensex and Nifty fall in early trade today?<\/strong><\/h3>\n
                        \n\n

                        Indices opened sharply lower as US\u2013Iran tensions pushed Brent crude near $97 a barrel, the rupee weakened towards record lows, and foreign institutional investors continued heavy equity selling, prompting broad-based risk-off sentiment.<\/p>\n\n<\/div>\n<\/div>\n

                        \n

                        What led to the sharp intraday rebound in the market?<\/strong><\/h3>\n
                        \n\n

                        Markets recovered after reports that the government may cut taxes on foreign investors\u2019 bond income and relax some ownership caps, which, along with value buying at lower levels, helped Sensex and Nifty claw back most of their morning losses.<\/p>\n\n<\/div>\n<\/div>\n

                        \n

                        Which sectors and stocks moved the most today?<\/strong><\/h3>\n
                        \n\n

                        IT was the key laggard, with TCS, Tech Mahindra, HCL Tech and Infosys dropping up to 7\u20139% on profit booking, while PSU banks outperformed as the Nifty PSU Bank index rose about 1.7%, led by gains in State Bank of India and other state-owned lenders.<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"

                        Indian equities reversed a deep morning selloff on Wednesday, 3 June, with the Sensex closing 304 points lower at 74,346.17 and the Nifty 50 ending 78 points down at 23,405.60, after reports of potential bond-market tax relief and ownership rule changes lifted sentiment from the day\u2019s lows. Market Overview Index 3 Jun Close Move & […]<\/p>\n","protected":false},"author":15,"featured_media":14666,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_ayudawp_aiss_exclude":false,"_ayudawp_aiss_summary":"Indian equities reversed a deep morning selloff on Wednesday, 3 June, with the Sensex closing 304 points lower at 74,346.17 and the Nifty 50 ending 78 points down at 23,405.60, after reports of potential bond-market tax relief and ownership rule changes lifted sentiment from the day\u2019s lows. Escalating US\u2013Iran tensions, higher Brent crude near $97, a weaker rupee, and continued FII selling triggered broad-based risk-off sentiment, pulling Sensex and Nifty 50 down over 1% intraday before recovery. IT was the key laggard, with TCS, Tech Mahindra, HCL Tech and Infosys dropping up to 7\u20139% on profit booking, while PSU banks outperformed as the Nifty PSU Bank index rose about 1.7%, led by gains in State Bank of India and other state-owned lenders.","_ayudawp_aiss_summary_provider":"extractive","_ayudawp_aiss_summary_hash":"eff0da31b0fd034751d1b42efd4f79cc19c62670","footnotes":""},"categories":[512],"tags":[558,544,545,515,315],"class_list":["post-14667","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-updates","tag-market-opening","tag-nifty","tag-sensex","tag-stock-market","tag-stock-market-updates"],"blocksy_meta":[],"uagb_featured_image_src":{"full":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/sensex-nifty-close-psu-banks-it-banner.png",1200,640,false],"thumbnail":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/sensex-nifty-close-psu-banks-it-banner-150x150.png",150,150,true],"medium":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/sensex-nifty-close-psu-banks-it-banner-300x160.png",300,160,true],"medium_large":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/sensex-nifty-close-psu-banks-it-banner-768x410.png",768,410,true],"large":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/sensex-nifty-close-psu-banks-it-banner-1024x546.png",1024,546,true],"1536x1536":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/sensex-nifty-close-psu-banks-it-banner.png",1200,640,false],"2048x2048":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/sensex-nifty-close-psu-banks-it-banner.png",1200,640,false],"web-stories-poster-portrait":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/sensex-nifty-close-psu-banks-it-banner-640x640.png",640,640,true],"web-stories-publisher-logo":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/sensex-nifty-close-psu-banks-it-banner-96x96.png",96,96,true],"web-stories-thumbnail":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/sensex-nifty-close-psu-banks-it-banner-150x80.png",150,80,true]},"uagb_author_info":{"display_name":"Team Lemonn","author_link":"https:\/\/lemonn.co.in\/blog\/author\/yudh\/"},"uagb_comment_info":0,"uagb_excerpt":"Indian equities reversed a deep morning selloff on Wednesday, 3 June, with the Sensex closing 304 points lower at 74,346.17 and the Nifty 50 ending 78 points down at 23,405.60, after reports of potential bond-market tax relief and ownership rule changes lifted sentiment from the day\u2019s lows. Market Overview Index 3 Jun Close Move &…","_links":{"self":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/14667","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/comments?post=14667"}],"version-history":[{"count":3,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/14667\/revisions"}],"predecessor-version":[{"id":14672,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/14667\/revisions\/14672"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media\/14666"}],"wp:attachment":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media?parent=14667"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/categories?post=14667"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/tags?post=14667"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}