Closing Bell: Nifty at 24,750, Sensex gains 444 pts ahead of RBI policy

Market Close | Sensex gains 444 points, Nifty at 24,750

Indian equity indices ended higher on second day on June 5 with Nifty at 24,750. At close, the Sensex was up 443.79 points or 0.55 percent at 81,442.04, and the Nifty was up 130.70 points or 0.53 percent at 24,750.90. About 2187 shares advanced, 1643 shares declined, and 146 shares unchanged.

We wrap up today's edition of the Moneycontrol live market blog, and will be back tomorrow morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.

Vinod Nair, Head of Research, Geojit Investments

Though profit booking remains evident at higher levels, the benchmark indices are attempting to recover their momentum amid consolidation. With a weakening dollar index and volatile US bond yields, FIIs are turning net buyers again after the recent selloffs in anticipation of final trade negotiations.

Despite global uncertainty, strong indicators of economic and corporate earnings growth are encouraging investors to adopt a buy-on-dip strategy. Moreover, markets are attentively awaiting upcoming central bank decisions, with a 25-bps rate cut anticipated from both the ECB and RBI.

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

After showing upmove from the lows on Wednesday, Nifty shifted into a decent follow-through upmove on Thursday and closed the day higher by 130 points amidst volatility. Nifty opened on a positive note, surged up further in the early part of the session. Intraday selling pressure was seen in the mid part from near the hurdle of 24850-24900 levels and Nifty finally closed off the highs.

A reasonable bullish candle was formed on the daily chart with long upper shadow. Technically, this market action indicates an upside bounce with high volatility.

The market is awaiting tomorrow's RBI's mid-quarter policy meet outcome which is scheduled around 10 am. The positive outcome from the meet is likely to bring sharp upside momentum in the market. Immediate support is placed at 24600 levels. A sustainable move above the resistance of 24900 could pull Nifty towards another hurdle of 25200 in the near term.

The RBI is widely expected to cut the repo rate by 25 basis points to 5.75%, marking its third cut in 2025...Read More

Ajit Mishra – SVP, Research, Religare Broking

Markets witnessed volatility on the weekly expiry day but managed to close in the green. A lack of strong cues from global markets led to a flat start for the Nifty, followed by a swift recovery in the first half. However, profit-taking in the latter half significantly trimmed the gains, and the index finally settled at the 24,750.90 level.

Meanwhile, there was no dearth of stock-specific trading opportunities, thanks to the mixed sectoral trend. On one hand, realty and pharma posted decent gains, while auto and banking ended on a subdued note. The broader indices continued to outperform, gaining in the range of 0.6% to 0.9%.

With all eyes now on the outcome of the upcoming MPC meeting, the continued outperformance of rate-sensitive sectors such as banking, realty, and auto appears to be factoring in a 25 bps rate cut. However, the RBI’s commentary will be crucial, given the mixed global cues amid a favorable domestic environment.

On the index front, the Nifty has reclaimed its short-term moving average (20-DEMA), and its ability to sustain above this level will be critical for any further rebound. Otherwise, profit-taking may resume. We continue to recommend a focus on theme-specific opportunities while maintaining prudent position sizing due to the mixed market signals.

Rupak De, Senior Technical Analyst at LKP Securities

The index remained volatile within a range throughout the day, failing to establish a clear directional move as range-bound trading continued. However, a golden crossover is visible on the daily chart, indicating the potential for a strong uptrend in the short term.

On the 2-hour chart, the RSI has formed a positive crossover, suggesting bullish momentum in the near to short term. Support continues to hold at 24,500; unless the Nifty breaks below this level, a serious correction is unlikely. On the contrary, a steady or even sharp recovery appears possible in the near term.

Buying across the sectors - barring PSU Banks - helped indices extend gains for a second day ahead of Reserve Bank of India (RBI) MPC decision tomorrow, where a 25 bps rate cut is widely expected. ...Read More

Aditya Gaggar Director of Progressive Shares

On the weekly expiry day, the market witnessed significant volatility marked by sharp swings on either side. Following a strong start, Nifty50 strengthened its positive momentum but once again struggled to sustain at higher levels and erased half of its gains to conclude the day at 24,750.90 with gains of 130.70 points. Except for PSU Banks, Media and Auto, all the other sectors ended in green, with Realty and Pharma being the top performers. Midcap and Smallcap segments extended their outperformance by surging 0.65% & 0.96%, respectively.

Technically, the Index formed a spinning top candle, indicating volatility with uncertainty about the clear trend ahead of the MPC meeting. The key resistance and support levels are 24,900 and 24,500, respectively.

Dilip Parmar – Senior Research Analyst, HDFC Securities

The Indian rupee appreciated, driven by a rebound in risk sentiment and foreign fund inflows. The currency also benefited from the general strength observed across other regional currencies.

Looking ahead, market participants are pricing in another interest rate cut from the Reserve Bank of India (RBI), buoyed by stable inflation figures. The rupee's future trajectory will largely depend on the RBI's upcoming policy stance and any liquidity measures it introduces.

For spot USDINR, 85.20 acts as support and 85.90 as resistance.

Currency Check | Rupee closes 11 paise higher

Indian rupee ended 11 paise higher at 85.79 per dollar on Thursday versus Wednesday's close of 85.90.

Market Close | Nifty at 24,750, Sensex gains 444 pts ahead of RBI policy

Indian equity indices ended higher on second day on June 5 with Nifty at 24,750.

At close, the Sensex was up 443.79 points or 0.55 percent at 81,442.04, and the Nifty was up 130.70 points or 0.53 percent at 24,750.90. About 2187 shares advanced, 1643 shares declined, and 146 shares unchanged.

Biggest Nifty gainers included Eternal, Dr Reddy's Labs, Trent, Power Grid Corp, ICICI Bank, while losers were IndusInd Bank, Bajaj Finserv, Axis Bank, Tata Consumer, Bajaj Finance.

BSE Midcap index rose 0.4 percent and smallcap index added 0.65 percent each.

Except PSU Bank, media, auto, all other sectoral indices ended in the green with IT, metal, pharma, realty up 0.5-1.7 percent.

Stock Market LIVE Updates | Welspun Corp bags export order

The company received repeat export order for supply of 50 kms of LSAW Pipes and Bends, with Anti Corrosion and CWC coating. With this, the cumulative orders valued at Rs 450 crore for India pipes facility. These orders will be executed in FY26 & FY27.

Brokerage Call | HSBC maintains ‘buy’ rating on M&M, target price at Rs 3,470

#1 M&M’s EV margin could improve to mid-single digits over the next 12–18 months

#2 Profitability could be even higher & may catch up with ICE vehicles

#3 Over the medium term, changes in taxation are key

#4 Low EV sales remain a significant downside risk

Brokerage Call | Jefferies maintains ‘buy’ rating on Welspun Living, target price at Rs 185

#1 India’s leading home textile exporter, with the US as its largest market

#2 Welspun would benefit from potential trade deals between India & the US/EU

#3 The company has expanded into new categories & built a branded portfolio

#4 Expected to deliver an 18 percent EPS CAGR over FY25–28

#5 FY26 may be muted due to short-term tariff uncertainties

Stock Markets LIVE Updates | CDSL shares gain 4%

Stock Markets LIVE Updates | Bharat Electronics bags order worth Rs 2,323 crore

Bharat Electronics (BEL) has received orders from MDL, Mumbai and GRSE, Kolkata totally valued at Rs 2,323 crore (excluding taxes) for supply of base and depot spares for the missile systems on Indian Naval ships.

Stock Market LIVE Updates | Alvotech, Dr. Reddy’s enter into collaboration to co-develop biosimilar candidate to Keytruda

Alvotech and Dr. Reddy’s Laboratories have entered into a collaboration and license agreement to codevelop, manufacture and commercialize a biosimilar candidate to Keytruda (pembrolizumab) for global markets.

Keytruda (pembrolizumab) is indicated for the treatment of numerous cancer types.

Brokerage Call | HAL, Siemens, L&T & KEI, top picks: Jefferies

#1 FY25 order flow for the coverage universe grew 28 percent YoY, led By HAL & Siemens

#2 Defence order flows grew 89 percent YoY

#3 Most companies showed operating leverage, especially in the defence segment

#4 Strong visibility in power & defence sector continues

#5 The outlook for railways has improved

Markets@3 | Sensex gains 370 points, Nifty above 24700

The Sensex was up 369.58 points or 0.46 percent at 81,367.83, and the Nifty was up 116.05 points or 0.47 percent at 24,736.25. About 2049 shares advanced, 1425 shares declined, and 123 shares unchanged.

Brokerage Call | Citi keeps ‘buy’ rating on PB Fintech, target price at Rs 2,185

#1 Strong growth in retail health insurance new business provides greater visibility into future profitability

#2 Pricing rationality in the POSP segment across the industry

#3 Pickup in business activity at Paisabazaar should aid investor sentiment

#4 Market consolidation, driven by mergers of top players in POSP

#5 The potential listing of another large player, is expected to support pricing discipline

#6 POSP contributed approximately 25–30 percent of FY25 consolidated revenue

Commodity Check | Silver prices at record high on MCX

Currency Check | Rupee trades higher at 85.80

Indian rupee is trading higher at 85.80 per dollar versus Wednesday's close of 85.90.

Sensex Today | Nifty Pharma, Realty up 1-2%, PSU Bank down 0.7%

Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan

Indian Rupee rose on positive domestic equities and a rise in Asian currencies. Overnight softening of crude oil prices also favored the Rupee. However, a strong US Dollar index capped sharp gains. US ISM services PMI fell in contraction at 49.9 in May 2024 trailing forecast of 52.

We expect Rupee to trade with a negative bias on positive tone in the US Dollar and elevated crude oil prices. ongoing trade tensions between US and China and geo-political tensions between Ukraine and Russia may also pressurise the Rupee. However, any fresh FII inflow may support the Rupee at lower levels.

Traders may take cues from weekly unemployment claims and trade balance data from the US. Investors may remain cautious ahead of RBI’s monetary policy meeting decision tomorrow. There are expectations of a 25 bps rate cut. Investors may also watch out for the non-farm payrolls report from the US. USDINR spot price is expected to trade in a range of Rs 85.40 to Rs 86.25.

Cochin Shipyard share price: The defence stock has jumped over 50% in the past one month. ...Read More

Stock Market LIVE Updates | ANSM, France, issues 11 observations to Gland Pharma's subsidiary

Agence nationale de securite du medicament et des produits de sante (ANSM), France, has issued its final report citing 11 observations on Cenexi’s Fontenay manufacturing facility after inspection. The ANSA had conducted the Good Manufacturing Practices (GMP) inspection of Cenexi’s Fontenay manufacturing facility (the material subsidiary of Gland Pharma) between December 9-19, 2024.

Cenexi has undertaken a Corrective and Preventive Action Plan, with various appropriate measures, within a period ranging from 3 -12 months (varies for each observation), and the same has been accepted by ANSM. There will be no disruption in the manufacturing operations due to this final inspection report.

Sensex Today | Intellect Design bags order from a South African bank to implement its digital engagement platform

Sensex Today | Zaggle Prepaid to acquire Dice Enterprises for Rs 123 crore

TVS Motor's current chairman, Ralf Speth, has informed The Board of Directors that he will not be seeking re-appointment as a company Director at the upcoming AGM...Read More

Amit Ramani, Chairman and MD, Awfis Space Solutions says

• Will add 40,000 seats in FY26
• Margin will be maintained around FY25 levels
• Launched cafeteria management services which will ramp up
• Design and build is 25 percent of our revenue
• Will continue to hold occupancy of more than 70 percent for the overall portfolio
• Realisation trend is an increase of 5 percent per year

Markets@2 | Nifty above 24700, Sensex up 360 pts

The Sensex was up 362.73 points or 0.45 percent at 81,360.98, and the Nifty was up 115.35 points or 0.47 percent at 24,735.55. About 2082 shares advanced, 1352 shares declined, and 132 shares unchanged.

Stock Market LIVE Updates | Talk with GE is on track and progressing well: Hindustan Aeronautics clarify

The company said an online article that appeared on idrw.org has inaccurately reported that negotiations between HAL and General Electric (GE) for the local production ofGE414 engines have stalled, suggesting that HAL is now in talks with another engine manufacturer.

HAL would like to clarify that this report is factually incorrect and misleading.

HAL reiterates that negotiations with GE are on track and progressing well and that HAL is not in talks with any other company regarding engines for LCA MK2.

Stock Markets LIVE Updates | Cochin Shipyard share price rises on third consecutive session

Sensex Today | BSE Midcap index up 0.4%; rises on second day

Brokerage Call | Citi keeps ‘buy’ rating on United Spirits, target price at Rs 1,800

#1 Near-term demand remains challenging

#2 Premiumisation trends are expected to recover in 2–3 quarters

#3 The India–UK free trade agreement could drive growth & premiumisation

#4 The policy environment appears to be turning favourable

#5 EBITDA margin are expected to be sustained at current levels over the next 2–3 years

Stock Market LIVE Updates | Angel One's number of orders up 14%, MoM

#1 Gross client acquisition jumped 1.70 percent MoM & down 43.10 percent YoY at 0.50 million

#2 Client Base rose 1.5 percent MoM & up 34.1 percent YoY at 31.95 million

#3 Number of orders rose 14 percent MoM & down 23.40 percent YoY at 121.55 million

Results Today | Allied Digital Services, GK Consultants, Lords Chemicals, among others to declare earning today

Allied Digital Services, GK Consultants, Lords Chemicals, Panth Infinity, and Riga Sugar Company will announce their quarterly earnings on June 5.

Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services

Gold prices may see some consolidation ahead of the ECB policy meeting out later in the day and the U.S. employment data on Friday. Overall bias remains positive amid rising economic uncertainty due to tariffs, weaker than expected U.S. data and falling treasury yields & the dollar index.

On Charts, the trend remains positive till holding above support at Rs 97,850/ 97,650, while on the upside prices may test Rs 98,650/ 99,000.

Sensex Today | Intellect Design bags order from South African Bank

Sensex Today | Tata Motors' JLR UK sales down 24% at 4,643 units Vs 6,093 units, YoY

Stock Markets LIVE Updates | Coal India's coal transportation up 34% in FY 2025

Coal India’s (CIL) environment friendly coal transportation grew by 34 percent yearon-year in FY 2025 at 102.5 million tonnes (MTs).

During the current financial year as well, ending May, CIL posted 36.7 percent growth in coal movement through FMC projects against 15 MTs same period year ago.

In a phased manner, CIL has plans to commission 92 FMC projects of 994 MT/Y capacity by FY 2029 end.

Stock Markets LIVE Updates | Go Colors opens first international store in Dubai’s Silicon Central Mall

Go Colors, the women’s bottomwear brand from Go Fashion (India) Limited, has opened its firstever international store in Dubai, marking its debut outside India. The new store is located in Silicon Central Mall.

Sensex, Nifty rallied sharply on Thursday on the back of strong global cues, anticipation of a policy easing by the RBI and renewed foreign fund inflows. ...Read More

Brokerage Call | JPMorgan retains ‘overweight’ rating on Reliance Industries, target price at Rs 1,568

#1 Earnings over the next two years should be better than the last two

#2 Stock has been under pressure due to large earnings cuts driven by weaker commodity EBIT

#3 This is unlikely to recur, given the already low margins

#4 Growth in the consumer business should translate better to the bottom line, supporting relative performance

Global Markets | European markets trade flat ahead of ECB policy meeting

Sensex Today | Power Grid acquires MEL Power Transmission

Power Grid Corporation of India acquired MEL Power Transmission, the Project SPV to establish transmission system for evacuation of power from Mahan Energen Limited Generating Station in Madhya Pradesh, on build, own, operate and transfer (BOOT) basis.

Sensex, Nifty advanced for second straight session on expectations of an interest rate cut by RBI and fresh foreign fund inflows. ...Read More

Stock Markets LIVE Updates | TVS Motor board elevates Sudarshan Venu as Chairman

The board of directors at their meeting held today, have approved the elevation of Sudarshan Venu, Managing Director, as Chairman of the Company effective

25th August 2025.

If the central bank cuts the rate in June policy, then it will the third consecutive rate cut after 25 bps cut each in February and April to support growth. Currently, the repo rate stands at 6.00 percent....Read More

Stock Markets LIVE Updates | REC approves fundraising plan

REC board approved the proposal of raising of funds through private placement of unsecured / secured non-convertible bonds / debentures of upto Rs 1 ,55,000 crore.

Also approved the proposal for striking-off a SPY namely Rajgarh III Power Transmission Limited, which is a wholly owned subsidiary of REC Power Development and Consultancy Limited (RECPDCL - a wholly owned subsidiary of REC), subject to requisite clearances/ concurrences/ approvals of

Statutory / Administrative Authorities.

Stock Market LIVE Updates | Deccan Gold Mines gets consent to operate from APPCB

Geomysore Services (India), an Associate Company of Deccan Gold Mines, infoemed that its Jonnagiri gold project has received the Consent to Operate (CTO) from the Andhra Pradesh Pollution Control Board (APPCB).

Stock Market LIVE Updates | NTPC Green Energy signs power purchase agreement for 1,000 MW capacity

NTPC Renewable Energy, a wholly owned subsidiary of NTPC, has signed the Power Purchase Agreement (PPA) for the 1,000 MW capacity at a discovered tariff of Rs 2.56 per kWh.

NTPC Renewable Energy had won 1,000 MW in Uttar Pradesh Power Corporation (UPPCL) solar PV power project auction on January 4.

May was the third consecutive of positive foreign inflow into equities at $1.7 billion, said the MOSL note, with DIIs investing in shares worth $7.9 billion during May, which was their 22nd month of net inflows, and the third-highest monthly buy figure ever. ...Read More

Brokerage Call | Kotak Institutional Equities keeps ‘buy’ rating on Adani Ports, target price at Rs 1,750

#1 Over the past five years, the standalone entity has significantly reduced its external leverage

#2 During this period, it invested USD 4 billion in new port assets, 4x the amount invested in the previous 5 years

#3 Additionally, it built a USD 2 billion logistics asset base

#4 Improved capacity utilisation & a more efficient cost structure enabled this achievement

#5 With most upcoming capex being brownfield, the logistics investment base could double to USD 4 billion

#6 Supporting potential equity payouts over the next five years

#7 Post-tax funding cost, including hedging, is around 8 percent, which bodes well for future investments

Sensex Today | Central Bank of India picks 25.18% shares of Future Generali India Life Insurance Company

Tata Power had confirmed in May this year that it is planning to bid for two discoms in Uttar Pradesh - Dakshinanchal Vidyut Vitran Nigam and Purvanchal Vidyut Vitran Nigam....Read More

Brokerage Call | Bharti Airtel remains the top pick in Telecom sector: Jefferies

#1 In FY25, sector revenues grew 13 percent YoY, driven by higher tariffs

#2 Bharti & Jio accounted for approximately 95 percent of incremental revenues

#3 With Jio's market share gains slowing & VI possibly defending more strongly, the focus may shift to tariff hikes

#4 Sector revenues are expected to grow at a 14 percent CAGR over FY25–27

Currency Check | Rupee trades higher

Indian rupee is trading higher at 85.81 per dollar on Thursday versus Wednesday's close of 85.90.

Sensex Today | BSE Capital Goods index up 0.7%; Grindwell Norton, Hindustan Aeronautics, NBCC, among top contributors

Stock Markets LIVE Updates | Man Industries bags new export order of Rs 1150 crore

The company has received a new export order for approximately Rs 1150 crore. This order is expected to be delivered during the next 6 to 12 months.

The total unexecuted order book stands at approximately Rs 3500 crore.

Sensex Today | BSE IT index rises 1%; extend gains on second day

Stock Market LIVE Updates | Welspun Corp bags export order

The company received repeat export order for supply of 50 kms of LSAW Pipes and Bends, with Anti Corrosion and CWC coating. With this, the cumulative orders valued at Rs 450 crore for India pipes facility. These orders will be executed in FY26 & FY27.

Sensex Today | 3.78 million shares of Bharti Airtel traded in a block: Bloomberg

Stock Markets LIVE Updates | Power and Instrumentation bags order worth Rs 6.25 crore

The company has received work order worth Rs 6,25,40,000 for design, supply, Installation, Testing, commissioning and Client handling over of power supply system Electrical Work at Udaipur Air Terminal, Rajasthan.

Sensex Today | 3 million shares of Varun Beverages traded in a block: Bloomberg

Sensex Today | Nifty reclaims 24,800

Global Markets | Asian markets trade higher; Kospi gains 1.5%

Brokerage Call | YES Research downgrades Century Plyboards to 'reduce' from 'neutral', target Rs 723

Positive update from Angel One lifted sentiment across the capital markets segment. The Nifty Capital Market index rose up to 2% intraday....Read More

Markets@12 | Sensex rises 398 points, Nifty around 24750

The Sensex was up 397.56 points or 0.49 percent at 81,395.81, and the Nifty was up 125.10 points or 0.51 percent at 24,745.30. About 2232 shares advanced, 1091 shares declined, and 149 shares unchanged.

Stock Markets LIVE Updates | RateGain’s Booking Engine Partners with Razorpay

RateGain Travel Technologies today announced a strategic partnership between its Booking Engine and Razorpay.

This partnership is designed to provide hotels across India with a secure, modern, and frictionless payment processing solution.

Garden Reach share price: The upcoming vessels will feature hybrid propulsion technology and be built to meet advanced cybersecurity standards. ...Read More

Sensex Today | Railtel Corporation bags order of Rs 274 crore

RailTel Corporation of India has received a Letter of Intent (LOI) from Motor Vehicles Department, Maharashtra. The estimated size of order is Rs 274.40 crore.

Sensex Today | 1.1 million shares of Ola Electric Mobility traded in a bunch: Bloomberg

Sensex Today | BSE Healthcare index up 1%; extends gains on second day

Brokerage Call | Sharekhan maintains 'buy' rating on Finolex Cables; price target Rs 1,250

Brokerage Call | Most OEMs are optimistic about exports: Citi

#1 Demand outlook is modest, FY26 volume growth projected in low single digits for 2-Wheelers

#2 FY26 volume growth projected in mid-to-high single digits for passenger vehicles

#3 Global demand remains cautious due to geopolitical uncertainty & tariffs

#4 After a favourable Q4 cost environment, rising metal prices & regulatory costs may drive new pressure

#5 Disruptions in the rare earth metals supply chain could affect production

#6 Preferred OEM order: Maruti > M&M > Hyundai; Endurance is the top pick among auto-part makers

Brokerage Call | Nirmal Bang cut PNC Infratech to ‘hold’, target Rs 303

Stock Market LIVE Updates | Eternal, HDFC Bank, RIL most active stocks at this hour

Garden Reach share price: The upcoming vessels will feature hybrid propulsion technology and be built to meet advanced cybersecurity standards. ...Read More

Stock Market LIVE Updates | Setco Auto launches new product - automotive water pump

Disappointing demand at sales of 20-year and 40-year bonds late last month exposed investor concern about a lack of appetite for longer tenors, sending a fresh warning to the government that it may need to rethink issuance plans. ...Read More

Markets@11 | Sensex rises 260 pts, Nifty at 24700

The Sensex was up 262.33 points or 0.32 percent at 81,260.58, and the Nifty was up 83.30 points or 0.34 percent at 24,703.50. About 2181 shares advanced, 1084 shares declined, and 138 shares unchanged.

LIC buys additional 1% stake in Dr Reddy’s since April 1, 2025

LIC now holds 8.22% stake against 7.19% as of March 31, 2025

Global Markets | Asian markets trade mostly higher; Kospi up 1%

Asian shares struggled for direction and made modest moves as investors avoided taking long-term risky bets ahead on US payrolls data Friday.

Sensex Today | Brainbees Solutions share price gain most in 10 weeks

Sensex Today | 2.01 million shares of SBI change hands in two blocks: Bloomberg