POST-MARKET SUMMARY 4th June 2025
On June 4, Indian benchmark indices broke their three-day losing streak, closing higher as global markets showed positive momentum and broad-based buying spread across most sectors. The rally came as a welcome relief for Indian equities, which had been under pressure due to concerns over global growth, rising trade tensions between the US and China and the fiscal outlook for the US economy.
Among the 13 sectoral indices, 12 ended in the green, with the Nifty Oil & Gas index leading the charge, rising by 0.67% while Nifty Realty fell 0.7%.
NIFTY: The index opened flat at 24,560 and made a high of 24,644 before closing at 24,620. Nifty has formed a bullish candle on the daily chart. Its major resistance level is now placed at 24,700 while its immediate support is at 24,500.
BANK NIFTY: The index opened 50 points higher at 55,560 and closed at 55,676. Bank Nifty has formed a Doji-like candle on the daily chart. Its immediate resistance level is now placed around 55,850 while immediate support is around 55,450.
Stocks in Spotlight
▪ Coforge: Stock gained over 1% after a 1:5 stock split was announced, with each Rs 10 share being split into five shares of Rs 2 each. The record date for eligibility was set for June 4.
▪ Servotech Renewable: Stock surged over 11% after the company received an order for a 7.8 MW grid-connected solar rooftop project from the Rangiya Division of the Northeast Frontier Railway.
▪ Garden Reach & Shipbuilders: Stock jumped over 6%, hitting a record high, after the company signed an MoU with Norway’s Kongsberg to build India’s first polar research vessel, which will support expeditions in the polar and southern oceans.
Global News
▪ Asian markets saw positive movement on Wednesday, with stocks rising for the second consecutive day, driven by optimism surrounding an upcoming meeting between U.S. President Trump and China’s President Xi Jinping. Investors are hopeful that the discussion could help alleviate trade tensions, boosting market sentiment across the region.
▪ European stocks climbed slowly higher on Wednesday and the dollar was little changed, as uncertainty about President Trump's tariff plans and negotiations with China dominated market sentiment. The German cabinet approved a first tax relief package worth $52.43 billion to support companies and revive its sluggish economy from this year through 2029.
▪ Gold prices remained stable on Wednesday, as stronger U.S. jobs data tempered safe-haven demand amid escalating trade tensions between the U.S. and China.
▪ Oil prices held steady, with global trade tensions and increased OPEC+ output balancing the impact of wildfires disrupting Canadian supply.
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