Top gainers and losers today: Stocks that moved the most on June 2

Top gainers and losers today: Stocks that moved the most on June 2

Benchmark indices ended sharply lower on June 2, weighed down by a selloff in IT and metal stocks amid a flare-up in global trade tensions and weak global cues, even as the March-quarter GDP data surprised on the upside.

The BSE Sensex slumped 573.69 points, or 0.70%, to close at 80,877.32, while the NSE Nifty shed 162.75 points, or 0.66%, to finish below the 24,600 mark.

Markets were unnerved by renewed tariff threats from the US, particularly around steel imports, adding to concerns over foreign fund outflows and rising geopolitical uncertainty. IT and metal stocks bore the brunt of the selloff, dragging the broader indices lower despite pockets of resilience in FMCG and PSU bank counters.

The market breadth on the BSE reflected a mixed undertone, with 1,783 stocks advancing, 1,565 declining, and 165 remaining unchanged by the close.

Godrej Consumer

Shares of Godrej Consumer Products led the gains on the Nifty FMCG index, closing nearly 3% higher on June 2. Select FMCG stocks rallied after the government slashed the basic import duty on crude edible oils, lifting sentiment in an otherwise subdued trading session.

CDSL

Central Depository Services (CDSL) jumped 10% on the back of a sharp rise in trading volumes which more than doubled on June 2. The rally in CDSL also lifted other capital market-related stocks, even as broader market sentiment remained muted. Meanwhile, India VIX spiked over 6% reflecting rising geopolitical risks from the Ukraine-Russia conflict and growing trade tensions between the US and China.

PSU Bank

Public sector banks extended their recent uptrend, with the Nifty PSU Bank index emerging as the top sectoral gainer for a second straight session. Bank of Maharashtra, Union Bank, and Indian Overseas Bank rose up to 6%, buoyed by expectations of a rate cut and better-than-expected Q4 GDP numbers. The PSU pack also outperformed the broader Nifty Bank index.

Apollo Hospitals

Apollo Hospitals saw modest gains after posting robust Q4FY25 results, with a 54% year-on-year jump in consolidated net profit for the March quarter, supported by strong show across healthcare services, diagnostics, and digital health verticals.

Vodafone India

Vodafone Idea shares edged up despite the company reporting another quarter of widening losses. The telco posted a consolidated net loss of Rs 7,166.1 crore in Q4FY25, slightly better than the Rs 7,674.6 crore loss a year ago. Brokerages remain cautious, with Macquarie highlighting the persistent subscriber loss and structural challenges facing the company.

Nifty IT

Shares of IT companies declined amid intensifying trade tensions between the US and China, with the Nifty IT index falling over a percent in early trade, extending its losing streak to a second day as investors turned risk-averse on fears of further escalation in global trade frictions.

Nykaa

Despite posting a sharp 193% jump in consolidated net profit at Rs 20 crore for Q4FY25, Nykaa’s stock slipped on June 2, likely as earnings cheer may already have been priced in, or that investors may have turned cautious.

Alembic Pharma

Alembic Pharma shares fell after the company received a Form 483 from the USFDA with four observations for its Panelav manufacturing facility. The management clarified that none of the observations relate to data integrity, and believes the issues are addressable.

JSW Steel

Steel stocks were under pressure after US President Trump announced plans to double tariffs on imported steel - from 25% to 50% - effective June 4. The move, announced during a campaign rally at US Steel’s facility in Pennsylvania is expected to exacerbate pressure on global steelmakers. Shares of JSW Steel, Tata Steel, and SAIL all declined on the news.

Inox Wind

Shares of Inox Wind declined as much as 6% after the company reported its March-quarter earnings, but analysts remain largely optimistic about the stock’s prospects. Most brokerages have reiterated their ‘Buy’ ratings, with some even revising price targets upward. The consensus view indicates a potential upside of around 18% from current levels, with the most bullish estimates projecting gains of up to 22%.