Prime End of the Day Summary: View on Market Performance 02 June 2026

Nifty Snaps Four Day Losing Streak, Ends 100 Points Higher

Nifty snapped its four-day losing streak, gaining 100 points to close at 23,483. Notably, the index’s open and low were identical at 23,229. The first half of the session remained largely directionless, while the second half witnessed strong bullish momentum, with Nifty rallying nearly 300 points from the mid-session low of 23,270. NSE cash market turnover rose 8% compared to the previous session.

Among Nifty constituents, IT majors TCS, Infosys, and HCL Tech led the gains, whereas NTPC, Axis Bank, and Power Grid were the key laggards.

Sectoral performance was mixed. IT, Consumer Durables, and FMCG emerged as top gainers, while Pharma, Financial Services, and Healthcare sectors witnessed declines.

Broader markets staged a sharp recovery from morning lows alongside the benchmark indices. The Nifty Midcap 100 and Smallcap 100 indices rebounded nearly 1.5% from intraday lows and eventually closed with gains of 0.2% and 0.4%, respectively. Market breadth turned positive after two sessions, with the BSE advance-decline ratio improving to 1.20, indicating renewed buying interest in the midcap and smallcap space following the recent correction.

The rupee began the month on a subdued note but weakened as the session progressed, pressured by rising crude oil prices, geopolitical concerns, and persistent foreign capital outflows. After opening lower, the currency continued to decline and settled near its intraday low, reflecting sustained dollar demand from importers.

On the technical front, Nifty briefly breached the swing low of 23,262 but managed to hold above the lower band of the April 8 upward gap at 23,153. The index also sustained above the key support level of 23,106, which corresponds to the 61.8% retracement of the 2,200-point rally recorded in April 2026. While today’s rebound offers some relief to bulls, a decisive trend reversal would require a close above 23,800.