GG News Bureau
Mumbai, 4th June: India’s benchmark stock indices rebounded in early trade on Wednesday, breaking a three-day losing streak, buoyed by a strong rally in global markets.
The 30-share BSE Sensex climbed 230.17 points to 80,967.68, while the NSE Nifty advanced 70.25 points to 24,612.75 during early trading hours.
Among the top gainers on the Sensex were Bharti Airtel, Eternal, IndusInd Bank, Maruti, Tata Motors, and Bajaj Finance. Meanwhile, Tata Consultancy Services (TCS), UltraTech Cement, Titan, and ICICI Bank emerged as the leading laggards.
Asian markets were trading higher, with South Korea’s Kospi, Japan’s Nikkei 225, China’s SSE Composite, and Hong Kong’s Hang Seng indices all in positive territory. US stocks also closed with gains on Tuesday, boosting investor confidence globally.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, highlighted the resilience of India’s domestic market. “Strong macro fundamentals and consistent mutual fund inflows, particularly through SIPs, reflect the maturing of Indian retail investors,” he said. He also noted that midcap stocks continued to outperform their large- and small-cap counterparts in the fourth quarter results.
Despite the rebound, Foreign Institutional Investors (FIIs) were net sellers on Tuesday, offloading equities worth ₹2,853.83 crore, as per exchange data.
Vikas Jain, Head of Research at Reliance Securities, attributed the market uptick to better-than-expected US job data. “The global rally, driven by strong US job openings, lifted investor sentiment, even as concerns linger over President Donald Trump’s tariff policies,” Jain said in his pre-market commentary.
Meanwhile, global oil benchmark Brent crude fell 0.32% to USD 65.42 per barrel.
On Tuesday, markets had witnessed a sharp sell-off, with the Sensex plunging 636.24 points to close at 80,737.51, and the Nifty sliding 174.10 points to settle at 24,542.50.
