CHENNAI: Indian equity benchmarks opened higher on Wednesday, June 4, supported by sustained buying in auto, IT, and select financial stocks. The BSE Sensex rose 160 points to settle at 80,901, while the Nifty50 added 53 points, or 0.22%, to close at 24,596, reflecting investor optimism post-election results and strong sectoral cues.
Prominent gainers in the morning trade on the Sensex included Bharti Airtel, Tata Motors, Tech Mahindra, Maruti Suzuki, Bajaj Finserv, Bajaj Finance, M&M, Nestle India, IndusInd Bank, Tata Steel, and Eternal.
These stocks rose up to 1.4% on an average, driven by strong domestic demand expectations, robust earnings outlook, and sectoral strength in auto and IT.
On the other hand, weakness was seen in stocks like TCS, Titan, Asian Paints, ICICI Bank, Adani Ports, Sun Pharma, and Axis Bank. These counters shed up to 0.65%, likely due to profit-booking and cautious investor sentiment in defensive and financial sectors.
Broader Markets & Sectors
On the broader markets, Nifty MidCap 100 rose 0.09%, and Nifty SmallCap 100 was slightly up by 0.17%
While in the sector-wise movement, Nifty Auto was up 0.60% and Nifty IT rose 0.56%. While Nifty Metal moved 0.33% higher.
The continued traction in the auto segment comes on the back of strong May sales data, while IT stocks gained amid positive global cues for tech.
Key Block Deals
Tata Technologies shares declined 1.6% after TPG likely offloaded a 2.1% stake via block deals. Nearly 9 million shares exchanged hands at ₹757 on the BSE.
Aditya Birla Fashion & Retail tumbled over 8% as Flipkart sold its entire 6% stake at ₹79.79 per share in a large block deal involving 29 million shares.
Market Sentiment
Market participants remain cautiously optimistic as the focus now shifts to the upcoming RBI monetary policy decision and global macroeconomic trends. Analysts expect consolidation in the near term, with stock-specific action continuing to drive investor interest.