BANKNIFTY Stages Sharp Recovery; PSU Banks Outperform, IT Index Under Pressure

As of 3:00 PM on Wednesday, June 3, 2026, BANKNIFTY reclaimed the 54,200 mark after a strong intraday recovery of more than 1,200 points from the day's low, reflecting renewed buying interest in banking stocks. The NIFTY PSU Bank Index emerged as the top-performing sectoral index, advancing over 1.5%. Among its constituents, $FEDERALBNK led the gains, rising nearly 2.5% during the session. In contrast, the IT sector down after a three-session winning streak. The NIFTY IT Index declined around 5.5%, with $TECHM emerging as the worst performer among the index constituents, weighing on overall sector sentiment. 📌 Disclaimer: This content is for information only and not investment advice. Investments in securities market are subject to market risks. Read all the related documents carefully before investing. Please consult a SEBI-registered advisor before making any investment decisions.