Indian stock markets put on a show of resilience today, June 2, 2026, with the BSE Sensex rebounding as much as 900 points from its intraday lows before ending the session up 383 points at 74,773.23. The NSE Nifty 50 followed suit, gaining 101 points to close at 23,523.60 after a volatile day shaped by surging oil prices, Middle East uncertainty, and mixed global cues.
IT Sector Powers Market Turnaround
The real star of the show was the Nifty IT index, which rallied 4.2%—marking its biggest intraday gain since February 3. Heavyweights like TCS, Infosys, HCL Tech, and Tech Mahindra led the charge, helping the broader market overcome early jitters. The Nifty itself surged more than 250 points from its day’s lows, and the Sensex jumped nearly 900 points off the bottom, reversing a gap-down open that had traders bracing for the worst.
Despite the strong close, not all sectors joined the party. Pharma, power, and oil & gas stocks faced selling pressure, with the Nifty Pharma index shedding nearly 1%. Nifty Financial Services also slipped by 1.07%, while the Nifty Bank experienced another wild 1,000-point range trading day—emphasizing the market’s volatility. Still, the Nifty Metal and Midcap indices eked out modest gains of 0.13% and 0.3% respectively, while Smallcap stocks added 0.4%.
Global Factors and Noteworthy Movers
The recovery came against a backdrop of global uncertainty. Brent crude hovered near $95 a barrel as traffic through the vital Hormuz Strait remained almost at a standstill, raising fears of deeper oil shortages and sharper price spikes. Meanwhile, South Korea’s stock market overtook India’s, reaching a $5 trillion valuation compared to India’s $4.8 trillion.
Among the session’s biggest volume buzzers was NPST, which surged nearly 12% ahead of its Q4 and FY26 results, buoyed by optimism in the digital payments space and a Rs 300 crore investment from Tata Group. Eicher Motors and other auto stocks also helped lift the mood, while laggards included NTPC, Power Grid Corp, Axis Bank, Dr Reddy’s Labs, and HDFC Life.
The rupee, however, felt the heat—depreciating as much as 9 paise to 95.08 against the US dollar in morning trade. Despite these pressures, strong domestic sentiment and selective buying in heavyweight stocks enabled the Indian equity benchmarks to end the day decisively in the green, defying global weakness and setting the stage for another eventful session tomorrow.
