Stock Market Today, June 4: Indian benchmark indices witnessed a lower start in Thursday trade, tracking weak global cues and investors’ caution ahead of important domestic and global events. Benchmark indices Sensex and Nifty opened with a lower trend on Thursday; however, buyers showed good support at the lower levels that helped indices recoup most of their intraday losses in the first hour of trade.
The BSE Sensex was trading 249.87 points lower at 74,096.30 at 9:35 am. The index opened at 73,935.83 against yesterday’s close of 74,346.17 and slipped to an intraday low of 73,807.30 later. The NSE Nifty 50 index was trading 64.50 points down at 23,341.10 during the early trade. It opened at 23282.45 compared with yesterday’s closing of 23405.60. The benchmark index also shot up sharply from the low of 23,247.30 to the 23,350 mark.
Getting Better Early Cuts Losses
The market was resilient despite a weak start with buyers coming in further down. The Sensex recovered by over 280 points from the day’s low, while the Nifty also regained a good part of its early losses. The rally shows investors are still selective, not bearish in a big way.
Markets more broadly did better than the leading indices. Nifty Midcap, Smallcap and Microcap indices traded in the green, indicating continued interest in the broader market despite weakness in large-cap stocks.
Top Sector Losers in Consumer Durables
Early trade sees consumer-focused sectors lead the way. Nifty Consumer Durables was up 1.56% and BSE Consumer Durables index was up 1.46%. Defence stocks too did well with the BSE India Defence index rising 0.91%.
Other gainers include BSE Power up 0.94% and BSE Oil & Gas up 0.31%.
Tech and banking stocks, however, continued to struggle. Nifty IT fell by 0.48%, and Nifty Realty fell by 0.49%. Benchmark indices also declined due to weak trading in bank stocks.
Asian Paints, Titan Lead Gainers On Bourses
Titan was the biggest gainer in the Sensex pack, climbing 1.62 per cent. Asian Paints, Adani Ports, Tech Mahindra, and Eternal were next in line. Consumer and discretionary stocks did well to offset some of the weakness in financials and tech.
Trent was among the laggards, down 2.43 per cent. Infosys, HDFC Bank, Bajaj Finserv, Power Grid and HCLTech also traded lower. Heavyweight banking and IT names led to a selling pressure which kept the market’s recovery in check.
Why Did The Market Open Lower Today?
Indian benchmark indices opened lower on Thursday as the country faces continue FII outflows, higher crude oil prices and weaker global cues. Sentiment was cautious after the Wall Street declined overnight, with Asian markets following in early trade.
Higher crude prices fuelled worries on inflation, India’s import bill and rupee, while continued foreign fund selling kept investors on the defensive. However, buying at dips helped recover early losses in Sensex and Nifty after the gap-down opening.
The Broader Market Is Still Positive
Breadth was decent, with several mid cap and small cap indexes moving higher. The Nifty Next 50 index edged 0.43% higher, Nifty Midcap 100 index was up 0.35% and Nifty Smallcap 100 index was up 0.25%.
Major indices consolidated post-recent market jitters, but the investors continue their search for investment opportunities across smaller market segments.
(Disclaimer: This article is for informational purposes only and should not be considered investment advice. The views, opinions, and recommendations expressed herein are those of the respective experts. Readers are advised to consult a qualified financial advisor before making any investment decisions.)
Priyanka Roshan is a business writer and assistant editor at the NewsX website who tracks everything from stock market swings and corporate earnings to personal finance trends and policy shifts. Known for turning fast-moving business developments into sharp, reader-friendly stories, she combines speed, accuracy, and a data-driven approach to break down complex financial news for everyday audiences.
With over 9.5 years of newsroom experience, Priyanka has worked with leading media organisations, including Moneycontrol, Times Now, and Ping Digital, covering diverse beats such as business, politics, technology, auto, travel, sports, and the world. From live breaking news desks to SEO-led digital storytelling, she specialises in creating engaging content that keeps readers informed without overwhelming them.
