The BSE Sensex also climbed, finishing the day at 76488.96, reflecting a gain of 382.5 points or 0.52%.
Gaurav Garg,
Research Analyst,
Lemonn Markets Desk
Mumbai, 2 June 2026: The Indian stock market ended on a positive note today, with the Nifty 50 closing at 23483.55, up 100 points or 0.43%. The session was characterized by a falling Wedge pattern the index opened at 23260.45, reached a high of 23556.65 and touched a low of 23233.50 The BSE Sensex also climbed, finishing the day at 76488.96, reflecting a gain of 382.5 points or 0.52%.
Sectoral trends remained broadly positive across the market, with IT emerging as the top-performing sector, driven by strong buying interest amid optimism surrounding AI-led demand and improving global technology spending prospects. Construction, Auto, FMCG, Realty, PSU Banks, Metals, Chemicals, and Media indices also ended in positive territory, reflecting selective strength across cyclical and consumption-oriented sectors. REITs and technology-related indices further supported the market's recovery. However, Financial Services, Private Banks, Pharma, Healthcare, Oil & Gas, Cement, and several financial-related indices closed lower, indicating profit booking and cautious positioning ahead of the RBI policy meeting. Despite the mixed sectoral performance, strong gains in technology stocks played a key role in supporting the broader market sentiment.
On the fundamental front, market sentiment remained cautious amid concerns over elevated crude oil prices, ongoing geopolitical tensions in the Middle East, and continued foreign institutional investor (FII) selling ahead of the RBI policy meeting later this week. Despite the weak start, the market witnessed a strong recovery from the 23,300 zone, with Nifty rebounding sharply to close near the 23,550 level as investors selectively accumulated quality stocks at lower levels. The rally was largely driven by strong buying in IT stocks, supported by optimism around AI-led demand, improving global technology spending prospects, and attractive valuations following the recent correction. However, investors continue to monitor developments related to crude oil prices, geopolitical risks, and the upcoming RBI policy outcome for further market direction.
