Prime End of the Day Summary: View on Market Performance 04 June 2026

Nifty Recovers Sharply From Early Losses, Ends Marginally Higher

After opening lower on weak global cues, the index rebounded nearly 200 points from the intraday low and finished in the green with a 10-point gain at 23,416. NSE cash market turnover declined 5% from the previous session.

Among Nifty constituents, Titan, Eternal, and Cipla led the gains, while Infosys, Hindalco, and SBI Life were the top laggards. Barring Nifty IT and Metal, all other sectoral indices ended higher. Consumer Durables, Media, and PSU Bank were the top gainers among the sectoral pack.

Broader markets mirrored the benchmark’s intraday recovery. Nifty Midcap 100 and Smallcap 100 rebounded nearly 1% from their intraday lows, eventually closing higher by 0.46% and 0.49%, respectively. Market breadth improved as well, with the BSE advance-decline ratio rising to 1.47, signaling renewed interest in midcap and smallcap stocks after the recent correction.

The Indian rupee extended its losing streak for a third straight session, slipping 8 paise to close at 95.78 against the U.S. dollar. Despite softer crude oil prices and a weaker dollar against major peers, the currency remained under pressure from strong importer demand and continued foreign fund outflows ahead of tomorrow’s RBI policy announcement.

The index held above yesterday’s low of 23,151, preserving the bullish implication from the Doji formation seen in the previous session. However, Nifty continues to trade below key moving averages, keeping the medium-term downtrend intact unless a decisive upside breakout emerges from current levels.

For now, short-term support and resistance remain placed at 23,151 and 23,800, respectively.