5 reasons why Sensex shrugged off early losses to gain 382 points
June 02, 2026
Indian stock markets recovered from early losses to end higher, with the Sensex rising 382 points and the Nifty gaining 100 points. A sharp rally in IT stocks led by TCS, Infosys and HCL Tech helped drive the rebound, while investors tracked monsoon progress, RBI policy expectations and broader market trends.
After opening in the red, benchmark indices gradually gathered momentum through the day, helped largely by a strong rally in technology stocks.
The Sensex ended the session at 74,649.84, gaining 382.50 points or 0.52%, while the Nifty settled at 23,483.55, up 100.95 points or 0.43%. The Nifty Bank index also finished in positive territory at 53,714.65, rising 0.13%.
Vinod Nair, Head of Research, Geojit Investments said, “Markets recovered from initial losses, led by gains in the IT sector, while continued accumulation in large-cap stocks reflected comfort with valuations, as the Nifty 50 trades closer to its long-term averages than the relatively richer valuations in broader markets. Despite ongoing delays in a Middle East truce, global sentiment remained stable, highlighting resilience in risk appetite. With the earnings season largely concluded, investor focus has shifted to key macro factors including monsoon progress, inflation trends, RBI policy, and liquidity conditions.”
“The monsoon is expected to advance into southern regions this week, providing near-term sentiment support. While rainfall is projected to be below the long-period average and emerging El Nino risks warrant monitoring, healthy reservoir levels, well above the 10-year average, offer a cushion against potential shortfalls,” he added.
Let’s take a look at the big highlights of today’s trade –
IT stocks take centre stage
The biggest support for the market came from information technology stocks. The Nifty IT index jumped more than 4%, extending its winning streak to a third consecutive session and emerging as one of the strongest-performing sectoral indices of the day.
Large-cap technology companies led the rally. TCS emerged as the top performer among Nifty constituents, while Infosys and HCL Technologies also recorded strong gains.
Mid-tier IT companies such as Coforge, LTIMindtree and Mphasis also saw gains during the session. Tech Mahindra, Wipro and Oracle Financial Services Software added to the sector’s positive momentum.
52-week highs and 52-week lows
Data from the exchanges showed that 73 stocks touched their 52-week highs during the session, while 83 stocks slipped to fresh 52-week lows.
Among the notable stocks reaching new 52-week high was ACME Solar Holdings, which continued its upward momentum.
The list of stocks making fresh highs also included several smaller and mid-sized counters, indicating stock-specific buying activity.
At the same time, a number of companies remained under pressure. Bajaj Electricals, Central Bank of India, Havells India and ICICI Prudential Life Insurance Company were among the stocks that touched fresh 52-week lows.
Circuit filter data
Trading activity across the broader market remained highly selective. During the session, 118 stocks hit their upper circuit limits, while 122 stocks were locked in lower circuits.
TCS leads gainers; NTPC among top drags
Within the Sensex pack, technology stocks dominated the gainers’ list. TCS emerged as the biggest gainer of the day, followed by Infosys and HCL Technologies. Tech Mahindra also featured among the major gainers, while Adani Ports added to the positive sentiment.
On the other hand, NTPC ended as the biggest laggard among Nifty stocks. Axis Bank, Power Grid Corporation and Bajaj Finserv also remained under pressure during the session. ICICI Bank featured among the notable losers, limiting some of the gains generated by the technology sector.
Analyst outlook
Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities said, “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.”
He further noted, “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.”
The Sensex ended the session at 74,649.84, gaining 382.50 points or 0.52%, while the Nifty settled at 23,483.55, up 100.95 points or 0.43%. The Nifty Bank index also finished in positive territory at 53,714.65, rising 0.13%.
Vinod Nair, Head of Research, Geojit Investments said, “Markets recovered from initial losses, led by gains in the IT sector, while continued accumulation in large-cap stocks reflected comfort with valuations, as the Nifty 50 trades closer to its long-term averages than the relatively richer valuations in broader markets. Despite ongoing delays in a Middle East truce, global sentiment remained stable, highlighting resilience in risk appetite. With the earnings season largely concluded, investor focus has shifted to key macro factors including monsoon progress, inflation trends, RBI policy, and liquidity conditions.”
“The monsoon is expected to advance into southern regions this week, providing near-term sentiment support. While rainfall is projected to be below the long-period average and emerging El Nino risks warrant monitoring, healthy reservoir levels, well above the 10-year average, offer a cushion against potential shortfalls,” he added.
Let’s take a look at the big highlights of today’s trade –
IT stocks take centre stage
The biggest support for the market came from information technology stocks. The Nifty IT index jumped more than 4%, extending its winning streak to a third consecutive session and emerging as one of the strongest-performing sectoral indices of the day.
Large-cap technology companies led the rally. TCS emerged as the top performer among Nifty constituents, while Infosys and HCL Technologies also recorded strong gains.
Mid-tier IT companies such as Coforge, LTIMindtree and Mphasis also saw gains during the session. Tech Mahindra, Wipro and Oracle Financial Services Software added to the sector’s positive momentum.
52-week highs and 52-week lows
Data from the exchanges showed that 73 stocks touched their 52-week highs during the session, while 83 stocks slipped to fresh 52-week lows.
Among the notable stocks reaching new 52-week high was ACME Solar Holdings, which continued its upward momentum.
The list of stocks making fresh highs also included several smaller and mid-sized counters, indicating stock-specific buying activity.
At the same time, a number of companies remained under pressure. Bajaj Electricals, Central Bank of India, Havells India and ICICI Prudential Life Insurance Company were among the stocks that touched fresh 52-week lows.
Circuit filter data
Trading activity across the broader market remained highly selective. During the session, 118 stocks hit their upper circuit limits, while 122 stocks were locked in lower circuits.
TCS leads gainers; NTPC among top drags
Within the Sensex pack, technology stocks dominated the gainers’ list. TCS emerged as the biggest gainer of the day, followed by Infosys and HCL Technologies. Tech Mahindra also featured among the major gainers, while Adani Ports added to the positive sentiment.
On the other hand, NTPC ended as the biggest laggard among Nifty stocks. Axis Bank, Power Grid Corporation and Bajaj Finserv also remained under pressure during the session. ICICI Bank featured among the notable losers, limiting some of the gains generated by the technology sector.
Analyst outlook
Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities said, “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.”
He further noted, “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.”