# 週二，基準指數 Nifty 以向下跳空開盤，測試先前的擺盪低點支撐。

*business · news · 2026-06-02 · Times of India*

## Key points

- 資訊科技股如 Infosys 和 TCS 表現優異，Nifty IT 指數三天內上漲7%。
- 儘管自5月15日以來已調升四次，石油行銷公司在汽油每公升仍虧損約₹12，柴油每公升虧損約₹21。
- 摩根士丹利預測印度的投資佔GDP比率在五年內可能上升至37.5%。
- 2026財年第4季中型股盈餘年增36%，優於Nifty 50的4%利潤成長。
- 印度免除棉花進口關稅至2026年10月30日後，紡織股成為焦點。

On Tuesday, the benchmark index Nifty opened with a downside gap, testing the prior swing low support. The opening price also turned out to be the day’s low. The index subsequently witnessed a steady pullback and closed at the 23483 level, registering a gain of 0.43%. This price action led to the formation of a bullish candle on the daily chart, indicating buying interest at lower levels. From a technical standpoint, the daily RSI once again held above the crucial 40 level and rebounded, reinforcing the RSI range shift behaviour in a sideways market. Notably, this marks the second instance of the RSI finding support around this zone and bouncing back. Going ahead, the sustainability of this move will depend on a decisive follow-through on the upside. On the sectoral front, frontline IT stocks such as TCS, Infosys, and HCL Tech emerged as top gainers, providing support to the index. Conversely, NTPC, Axis Bank, and Dr Reddy were among the key laggards from Nifty space. Meanwhile, the India VIX declined by over 7%, indicating a cooling-off in market volatility and improved risk sentiment. Broad-based participation remained supportive, with Nifty Midcap 100 and Smallcap 100 indices also rebounding and ending higher. Market breadth was firmly positive, as the advance-decline ratio favoured advancers, with 300 stocks from the Nifty 500 universe closing in the green, highlighting underlying strength in the broader market, says Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities. Shares of major Indian technology companies such as Infosys and TCS continued their upward march on Tuesday, helping the Nifty IT index significantly outperform the broader market. The rally in technology stocks came even as the benchmark Nifty remained under pressure and traded sharply lower. The Nifty IT index advanced for a third straight session, rising about 7% over the three-day period and touching an intraday high of 30,785 on Tuesday. In contrast, the Nifty fell roughly 3% during the same period, slipping below the 23,250 mark. Infosys emerged as one of the key gainers, with its stock climbing more than 4% to Rs 1,257.90 in morning trade. The company's shares have now surged nearly 9% over the last three sessions. Tata Consultancy Services also posted strong gains, rising around 3.5%. Among other IT names, Mphasis and LTIMindtree advanced close to 3% each. HCL Technologies, Coforge, Tech Mahindra and Persistent Systems registered gains of about 2% apiece, while Wipro traded marginally higher and remained in positive territory. The frontline indices declined to their lowest levels of the month of May even as the volaitlity index, India VIX witnessed a cool-off. IT stocks continue to outperform for the second consecutive trading session with Infy, TCS and HCL Tech leading the surge. Coming to Nifty, the zone of 23160-23180 will act as a crucial support for the index while the resistance lies in the zone of 23410-23430. On the downside, if the index slips below the level of 23160 then the next support is placed in the zone of 22900-22800. In an event of a surge above 23430, the index can experience an extension of the rally towards 23630. On the options front, meaningful call writing witnessed across 23300 & 23400 strikes. On the put side, 23200 has a substantial open interest, followed by 23100 strike. Nifty's Advance Decline Ratio is at 16:34. Speaking of Sensex levels, support is at 73,600 while resistance is at 74,400. India's equity market may be poised for a robust phase over the coming year as corporate profit growth strengthens and both valuations and market sentiment move closer to more balanced levels, according to Morgan Stanley. In its latest India Equity Strategy report, the global brokerage said the country is favourably placed for a prolonged growth cycle. The outlook is supported by improving earnings trends, a policy environment seen as supportive, resilient domestic investor participation and a strong long-term economic growth trajectory. Morgan Stanley believes Indian companies are entering another phase of earnings expansion. While acknowledging near-term challenges such as an extended conflict in the Middle East and the risk of a severe drought affecting the summer cropping season, the firm expects profit growth to pick up and remain strong over the next several quarters. The brokerage also remains positive on the investment cycle, particularly in sectors such as energy, defence, semiconductors, fertilisers and data centres. It projects that India's investment-to-GDP ratio could rise to 37.5% over the next five years, which it sees as an important driver of sustained economic and corporate growth. Petrol and diesel prices have been increased four times since May 15, yet industry estimates suggest the hikes may not be enough to fully absorb the losses currently being borne by Oil Marketing Companies (OMCs). Even after a cumulative increase of nearly ₹7.5 per litre, OMCs are still estimated to be losing around ₹12 per litre on petrol and ₹21 per litre on diesel at prevailing crude oil prices. Under-recovery refers to the gap between the actual cost of procuring and refining crude oil and the price at which fuel is sold to consumers. According to Nilesh Ghuge of HDFC Securities, OMCs could report losses of about ₹74,486 crore on petrol and diesel sales during the June 2026 quarter if current fuel and crude prices persist. Given the extent of these losses, he expects further increases in retail fuel prices to remain a possibility. Rising under-recoveries are likely to significantly impact quarterly earnings and net worth at state-run fuel retailers, including Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation. Brokerage firm Equirus Securities estimates that total under-recoveries, including those on liquefied petroleum gas (LPG), could reach ₹1.1–1.2 lakh crore during the June quarter under the current pricing scenario. A substantial portion of this burden is expected to come from LPG. Equirus estimates LPG-related under-recoveries at around ₹32,500 crore, driven by elevated Saudi contract prices and the absence of corresponding increases in retail LPG rates. Maulik Patel, Head of Research at Equirus Securities, said that if Brent crude remains above the $100-per-barrel mark, petrol and diesel prices may need to rise by another ₹5–6 per litre to prevent pressure on OMCs' operating profitability. He estimates total under-recoveries for the June quarter at roughly ₹84,300 crore. Apart from the fuel price revisions implemented since mid-May, the government had also reduced excise duty on petrol and diesel by ₹10 per litre in March. Despite the challenging environment, analysts note that OMCs have entered the current phase with relatively healthy balance sheets, providing some cushion against the impact of elevated crude prices. "Indian equity markets are expected to open on a negative note, with Gift Nifty trading at 23,260, down by 180 points. Asia-Pacific equities traded mixed in early trade following a volatile session on Wall Street, as strength in technology stocks was offset by persistent geopolitical uncertainties. In the previous session, The Nifty 50 remained under relentless selling pressure on June 1, declining 0.7 percent and extending losses for the fourth consecutive session. The index continued to trade below the 50 percent Fibonacci retracement level of the April rally and remained below all key moving averages, reflecting sustained weakness in the broader market structure. Technically, the Nifty formed another long bearish candle on the daily chart and registered an upper shadow for the fourth straight session, indicating persistent selling pressure at higher levels and lack of follow-through buying. The short- and medium-term moving averages continued to slope downward, reinforcing the prevailing bearish trend. Momentum indicators also weakened further. The RSI slipped to 40.27 and witnessed a bearish crossover, while the MACD turned negative with a bearish crossover and a red histogram bar appearing after four consecutive green bars. These developments indicate weakening momentum and strengthening bearish sentiment in the near term. From a technical perspective, the 23,250 level remains a critical support zone for the index. A decisive breakdownbelow this level could accelerate selling pressure and expose the next downside target around 23,100. On the upside, immediate resistance is placed near 23,550, followed by the stronger hurdle at 23,700. A sustained move above these levels will be required to improve market sentiment. Derivatives data points to a bearish undertone. The Nifty Put-Call Ratio (PCR) declined further to 0.69 on June 1 from 0.74 in the previous session, marking its lowest level since February 27. The sharp fall in PCR reflects increasing call writing activity and cautious positioning among traders. India VIX, the market fear gauge, extended its upward trend for another session, rising 2.21 percent to 16.54 after an 8 percent surge in the previous session. The increase in volatility indicates growing discomfort among bulls. Analysts believe that a move above the 17 level could increase downside risks, while a decline below the 15 mark would be necessary for confidence to return. Option chain positioning suggests immediate support around the 23,250 strike, while resistance is visible near the 23,500–23,700 zone where significant call writing activity has emerged. This reinforces the ongoing bearish bias in the market. The Nifty Bank also remained under pressure and formed a long bearish candle on the daily timeframe. The banking index continued to trade below all key moving averages, indicating that bears remain firmly in control. Technically, Bank Nifty closed below the 50 percent Fibonacci retracement level of the April rally and also remained below the 38.2 percent Fibonacci retracement level of the February-to-April correction. This suggests continued weakness in the broader banking space. Momentum indicators reflected a similar trend. The RSI declined to 43.02 with a negative crossover, while the MACD edged lower toward the signal line with fading positive histogram bars. These signals indicate weakening bullish momentum and the possibility of a continuation of the corrective phase. Immediate support for Bank Nifty is placed around 53,000–52,800, while resistance is seen near 54,400–55,150. A decisive move above resistance levels will be required to improve the short-term outlook for the banking index. Overall, the technical setup remains weak with benchmark indices trading below key moving averages, momentum indicators turning negative, and volatility rising. Unless Nifty manages to hold above 23,250 and reclaim the 23,700 zone, bears are likely to maintain control in the near term, keeping market sentiment cautious and volatile,” says Aakash Shah, Technical Research Analyst at Choice Equity Broking Private Limited. Indian equities remained under pressure on Monday as a lack of progress in West Asia peace negotiations and renewed reports of tensions involving the US and Iran pushed crude oil prices higher, dampening investor sentiment. The Sensex surrendered nearly 1,100 points from its intraday peak before ending the session at 74,267, down 508 points. Foreign institutional investors continued to pare their exposure to Indian equities, selling shares worth more than Rs 3,900 crore during the session. According to BSE and NSDL data, cumulative foreign outflows from the equity market this year have now crossed Rs 2.5 lakh crore. By comparison, net FPI selling for the whole of 2025 stood at around Rs 1.7 lakh crore. Monday marked the fourth straight session of declines for the Sensex. Over this period, the benchmark index has shed 2,222 points, translating into a loss of nearly 3%. Siddhartha Khemka of Motilal Oswal Financial Services said the domestic market is likely to remain largely range-bound in the near term, although sentiment could stay mildly negative due to continued foreign investor selling and uncertainty surrounding global macroeconomic developments. With the January-March earnings season mostly concluded and corporate earnings growth remaining relatively healthy, investors may increasingly focus on company-specific opportunities, particularly within the midcap segment. Khemka added that market participants will closely track the Reserve Bank of India's upcoming monetary policy decision, scheduled for June 5. Textile stocks could also attract attention after the government's decision to waive import duty on cotton. The decline in equities wiped out roughly Rs 4.3 lakh crore in investor wealth, taking the total market capitalisation of BSE-listed companies down to Rs 460.7 lakh crore. On the currency front, the rupee showed signs of stability, ending marginally stronger at 94.99 against the US dollar. However, in the non-deliverable forwards market, the currency later weakened to around 95.17 per dollar. Meanwhile, reports of fresh tensions in the Persian Gulf pushed Brent crude prices sharply higher in late trade, with the benchmark rising more than 5% to hover near the $96-a-barrel mark. In the United States, early trading was mixed. The Dow Jones Industrial Average was lower by about 100 points, or 0.2%, while the S&P 500 and Nasdaq Composite were broadly unchanged. Among individual stocks, Zee Entertainment Enterprises gained 7% during intraday trade after announcing that it had secured broadcasting rights for the upcoming Football World Cup in India. Indian equities are expected to remain range-bound with a marginal negative bias in the near term amid persistent Foreign Institutional Investor selling and ongoing uncertainty around global macro developments. With the Q4FY26 earnings season largely concluded and broader markets reporting stronger earnings growth, focus is likely to remain on stock-specific opportunities in the midcap space. Investors will also track the RBI’s June 3–5 policy meeting, while textile stocks may remain in focus following the government’s cotton import duty waiver. Domestic equities remained under pressure on Monday following weakness witnessed on Friday, with the Nifty 50 declining 0.7%, while the Midcap and Smallcap indices corrected 1.5% and 0.9% respectively. The Nifty IT index gained nearly 3%, supported by selective buying after recent underperformance. Persistent Systems (+5%) remained in focus after announcing expansion into Eastern Europe. Foreign Institutional Investors (FIIs) recorded sharp cash market outflows on Friday, largely due to MSCI Global Standard Index rebalancing flows estimated at around Rs 20,600 crore. However, domestic institutional investors absorbed a significant portion of the selling, helping limit the extent of the decline. The Q4FY26 earnings season concluded ahead of expectations, with the MOFSL Universe reporting 16% YoY profit after tax growth versus estimates of 8%, led by BFSI, metals and oil marketing companies. Midcaps reported 36% YoY earnings growth, while the Nifty 50 posted 4% growth, marking its eighth consecutive quarter of single-digit earnings expansion. On the macro front, GST collections for May stood at Rs 1.94 lakh crore, up 3.2% YoY, though moderating from April levels. Bond markets also remained cautious ahead of the RBI’s June 3–5 MPC meeting, with the 10-year G-Sec yield rising to around 7.02%. Commercial LPG prices were raised by Rs 42–53.5 effective June 1, while CNG prices have also seen multiple hikes in recent weeks. The increase in fuel costs is expected to raise operating expenses for logistics, aviation, chemicals and transportation sectors, keeping near-term margin pressure elevated for fuel-intensive businesses. Textile stocks may remain in focus after the government waived customs duty on cotton imports from June 1 to October 30, 2026, aimed at improving raw material availability and easing input cost pressures for the domestic textile industry, says Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.

**Companies:** TCS, Infosys, HCL Tech, Mphasis, LTIMindtree, Coforge, Tech Mahindra, Persistent Systems
**Countries:** India

[Read the full story on Times of India](https://timesofindia.indiatimes.com/business/india-business/sensex-stock-market-today-02-june-2026-live-updates-nse-bse-gift-nifty-50-top-gainers-losers-mcx-stocks-in-focus-market-news/liveblog/131453118.cms)

---

Canonical: https://newsio.io/zh-TW/n/2452f5f1-c4de-4130-a07b-8063ccdb038b/nifty-23483
Summarized by Newsio from Times of India. https://newsio.io/how-it-works