Share Market Today: Sensex Recoups 900 Points from Lows, Nifty Holds 23,400
Sensex fell 304 points and Nifty settled at 23,406 on June 3 after a highly volatile session. A late 900-point recovery led by banking stocks cushioned a sharp selloff triggered by fresh Gulf tensions and $97 crude. Read the full market analysis here.
Indian Stock Market Today | Indian equity benchmarks closed lower following a highly volatile trading session on Wednesday, June 3, 2026.
Frontline indices faced intense selling pressure in early trade, tumbling up to 1.5% as fresh missile attacks in the Gulf and rising oil prices spooked investors.
However, a sharp afternoon recovery led by banking shares helped the benchmarks claw back a major portion of their intraday losses, with the Sensex recouping over 900 points from its lowest point.
Market breadth remained weak, with the NSE Advance-Decline ratio at 2:3.
At the Closing Bell:
- BSE Sensex: Fell 304 points to close at 74,346
- Nifty 50: Slipped 78 points to settle at 23,406
- Nifty Bank: Rose 471 points to finish at 54,186
In the primary market, the IPO of CMR Green Technologies Ltd witnessed healthy retail and HNI participation, achieving full subscription on its very first day of share sale.
Explore our in-depth IPO Analysis to evaluate the company's core growth prospects, financials and major red flags before bidding closes on June 5.
Key Market Drivers
1. Fresh Gulf Hostilities Spook Street
Geopolitical tensions flared up again after the U.S. military reported that Iranian missile attacks targeting Bahrain, Kuwait and other regional positions were either thwarted or unsuccessful.
The fresh friction combined with slow diplomatic progress between Washington and Tehran kept investors on edge.
2. Crude Oil Prices Climb
Continued blockades and uncertainty over the reopening of the strategic Strait of Hormuz pushed crude prices higher, with Brent rising over 2% to hover around $98.49 per barrel, while US WTI crossed $96.
Earlier in the day, Brent and WTI touched their highest levels since May 27 and May 22, respectively.
For India, the spike has renewed concerns around import-led inflation and potential margin pressure for oil-sensitive sectors.
3. Pre-RBI Policy Caution
Market participants maintained a guarded approach ahead of the Reserve Bank of India’s (RBI) Monetary Policy Committee decision scheduled for June 3–5.
While interest rates are widely expected to remain on hold, the street fears a hawkish stance on inflation due to volatile energy costs.
4. Banking Rebound vs. IT Selloff
A sharp divergence played out across major sectors. Late-session value buying in financial stocks lifted the Nifty Bank index by 471 points.
Conversely, the Nifty IT index snapped its three-day rally, with every constituent finishing in the red alongside heavyweights like ITC and Larsen & Toubro.
Nifty Today & Major Indices Overview
Technical Analysis: Nifty & Bank Nifty Levels
NIFTY 50: Opened 67.60 points lower at 23,415.95, reached a high of 23,459.65 and closed at 23,405.60.
On the daily chart, the index formed a thin-bodied red candle with a prominent lower wick, indicating buying interest at lower levels amid range-bound trading.
- Immediate Support: 23,350
- Immediate Resistance: 23,450
BANK NIFTY: Opened 173.55 points lower at 53,541.10, reached a high of 54,299.35 and closed at 54,185.95.
The index formed a bullish candle with a noticeable lower wick, reflecting buying interest at lower levels.
- Immediate Support: 53,900
- Immediate Resistance: 54,300
World Markets, Crude & Gold Prices
- Global Equities: Asian markets ended mixed, with Japan’s Nikkei rising nearly 3% on AI-led tech buying, while Hong Kong and Jakarta closed weaker.
- European markets edged lower as Middle East tensions and weakness in financial services weighed on sentiment.
- Crude Oil: Oil prices rose more than 2%, extending gains from the previous session, with Brent futures hovering around $98.5 per barrel.
- Gold Prices: The yellow metal slipped nearly 1%, pressured by a stronger dollar and rising oil prices, as continuing Middle East tensions reduced hopes of a quick resolution to the US-Iran conflict.
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