BSE Sensex closed at 82,948.23, shedding 131.43 points or 0.16% from its previous close.
NSE Nifty50 ended the day at 25,377.55, down 41 points or 0.16%, after hitting a high of 25,482.20.
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Impact on the stock market
Financial and banking stocks pulled the market back from deeper cuts.
- The Nifty Financial Services Index rose 1.40%
- Bank Nifty gained 1.06%
- Private Bank and PSU Bank indices also edged up, gaining up to 0.96%
| Sector/Index | Performance |
| IT & BPM sector | 0.33% |
| Healthcare sector | 0.21% |
| Oil & Gas sector | 0.67% |
| Real estate sector | -0.70% |
| PSU Bank in India | 0.24% |
Top gainers today
| Company | Price (in ₹) | Change % |
| Eternal Share Price | 245.68 | 3.36 |
| Jio Financial Share Price | 290.35 | 2.27 |
| Bharti Airtel Share Price | 1,875.40 | 1.85 |
| IndusInd Bank Share Price | 814.35 | 1.69 |
| Reliance Share Price | 1,423.50 | 1.28 |
Top losers today
| Company | Price (in ₹) | Change % |
| Bajaj Finserv Share Price | 1,956.10 | -1.80 |
| Trent Share Price | 5,506.50 | -1.49 |
| Shriram Finance Share Price | 641.20 | -1.09 |
| Axis Bank Share Price | 1,171.00 | -0.89 |
| TCS Share Price | 3,380.90 | -0.71 |
Market aftermath: Impact on stocks
Swiggy jumps 8% after Morgan Stanley coverage
Swiggy shares surged 8% to ₹360.3 on the NSE after Morgan Stanley initiated coverage with an ‘overweight’ rating and a target price of ₹405, suggesting a 12% upside.
The positive view is backed by:
- Swiggy’s improving performance in the food delivery space
- A growing addressable market in quick commerce
- Improved execution that could help Swiggy close the profitability gap with Eternal
Morgan Stanley values Swiggy’s food delivery at 25x FY28 adjusted EBITDA, and its Instamart (quick commerce) arm at 27x FY31 EBITDA, both lower than Eternal’s multiples, highlighting room for rerating.
For context, Swiggy’s peer Eternal (Zomato’s parent) also rose nearly 3%, trading at ₹244.4.
Also read: NBCC share price rises after robust Q4FY25 results
Railways steal the spotlight: Ircon, RVNL, RailTel rally
Railway stocks staged a strong rally today, fuelled by the government’s capex push and fresh orders across the sector. The renewed interest comes on the back of robust GDP growth numbers (7.4% in Q4) and expectations of higher infrastructure spending.
Here’s how key railway stocks performed:
- Ircon International: Soared over 12% to ₹218, its best single-day gain in 20 weeks. The company recently won an EPC order worth ₹1,068 crore from East Central Railway.
- RailTel Corporation: Gained over 12% after partnering with Techno Electric to build a 10 MW data centre in Noida.
- Texmaco Rail & Engineering: Jumped 8%, riding the railway optimism.
- Rail Vikas Nigam (RVNL): Up over 7%, continuing its strong momentum on back of strategic project wins.
- IRFC, Titagarh Rail Systems, CONCOR: All up around 3%, riding on the back of policy tailwinds.
- BEML, IRCTC: Also registered marginal gains.
This collective uptrend in railway stocks signals investor optimism about capital formation and long-term growth visibility in core infrastructure sectors.
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Volatility cools down ahead of RBI MPC meet
The India VIX, often called the market’s fear gauge, fell nearly 10% over the past two sessions as investors await the RBI’s monetary policy decision on June 6.
Since April, the VIX has been bouncing between 15 and 23, but is now inching closer to the lower end of that range.
According to market experts:
- A rate cut of 25 basis points is expected due to cooling inflation
- Investors are pricing in policy continuity, leading to reduced near-term volatility
Also boosting sentiment today was a remark from NITI Aayog CEO BVR Subrahmanyam, who confirmed that India has overtaken Japan to become the world’s 4th-largest economy, with a GDP of $4 trillion.
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Crude oil dips as global growth outlook dims
Crude oil prices edged lower on June 4 after the OECD downgraded its global economic growth forecast for 2025 to 2.9%.
Price snapshot (as of 9:59 am):
| Contract | Price | % Change |
| August Brent | $65.44 | -0.29% |
| July WTI | $63.21 | -0.32% |
| June Crude Oil (MCX) | ₹5,432 | -0.42% |
| July Crude Oil (MCX) | ₹5,373 | -0.41% |
Wildfires in Alberta, Canada, had briefly lifted oil prices earlier this week. But supply concerns are easing with rainfall helping restore production.
The OECD’s report also warns of trade fragmentation risks and slowdowns in major economies like the US, China, Canada, and Mexico, all of which have weighed on energy demand expectations.
US inventory data from the American Petroleum Institute (API) showed a decline of 3.28 million barrels, which normally supports prices—but it wasn’t enough to offset the economic concerns.
Conclusion
Markets took a breather today after touching fresh highs, largely led by caution before the US Fed’s interest rate decision.
- Tech stocks saw profit booking.
- Financials and railways stepped up.
- Volatility dropped, signalling investor confidence.
- Crude prices dipped as global growth fears took hold.
In all, it was a balanced day, where macro cues clearly outweighed momentum trading. With the RBI policy decision due in two days and global central banks being watched closely, investors are advised to stay nimble and stay tuned.
For more stock market insights, check out the StockGro blog.
