India's benchmark equity indices ended Tuesday's session on a positive note, breaking their four-session losing streak. According to reports from Mint, the BSE Sensex rebounded 383 points, or 0.52%, to close at 74,650, while the NSE Nifty 50 advanced 101 points, or 0.43%, to settle at 23,484. This recovery followed nearly 3% decline over the previous four trading sessions driven by escalating Middle East tensions and sustained foreign investor outflows. The Nifty 50 opened with a sharp gap-down of 153.45 points at 23,229.15 but recovered steadily throughout the session to reach an intraday high of 23,556.95. Latest market data shows the Nifty 50 closed at 23,483.55 (+0.43%) on June 2, 2026, recording a powerful intraday reversal of 328 points from the session low.
As reported by Mint, Sumeet Bagadia, Executive Director at Choice Broking, noted that the formation of a strong bullish candlestick pattern after opening at the day's low and closing near the day's high indicates sustained buying interest from lower levels. Immediate support for Nifty is placed in the 23,200–23,250 range, while resistance is observed between 23,700 and 23,750 levels. According to Univest analysis, the RSI recovered from 38 to 42 on June 2, 2026, indicating momentum reversal and suggesting the oversold correction from May's lows is complete. The VIX at ~16.9 on June 2 reflects declining panic even as the market opened gap-down, meaning institutional selling is disciplined and not panic-driven. For tomorrow's session, Univest identifies 23,350 as Nifty support and 23,556 as resistance, with a gap-up open near 23,540 to 23,570 confirming bullish momentum.
According to Mint, the Bank Nifty index opened with a gap-down of 378 points at 53,265.10, indicating weakness in the banking space at the start of the session. The index recovered steadily throughout the session, with selling pressure persisting during the early part of the day, dragging it to its intraday low of 53,121.85. However, strong buying interest emerged thereafter, helping the index recover to an intraday high of 53,933.55 before settling at 53,714.65, registering a gain of 71.55 points or 0.13%. Latest analysis from Univest reveals that Bank Nifty's +71.55 point gain on June 2 is deceptive at the headline level, as financial services have declined for five consecutive sessions. Kunal Singla of Univest places 53,120 as the critical immediate support for banking stocks, noting that the broader bank index gained marginally as Wipro and IT-adjacent financials provided offset. The FII selling moderation from ₹21,106 crore to ₹3,912 crore on June 1 is identified as the key structural positive that may accelerate a banking sector recovery.
As reported by Mint, Sumeet Bagadia recommends five breakout stocks for Wednesday, June 3, 2026. Arvind is recommended at ₹500 with a target of ₹540 and stop loss at ₹478, trading near its all-time high zone. Hindustan Oil Exploration Company is suggested at ₹171.8 with a target of ₹185 and stop loss at ₹164, having witnessed a strong session with nearly 4% gains. Titagarh Rail Systems is recommended at ₹834 with a target of ₹900 and stop loss at ₹792, having delivered a technically significant breakout by closing above its 200-day EMA. Avalon Technologies is suggested at ₹1512 with a target of ₹1630 and stop loss at ₹1436, trading very close to its all-time high zone. Olectra Greentech is recommended at ₹1285 with a target of ₹1390 and stop loss at ₹1220, having delivered a decisive close above all major EMA levels after consolidating for the past week.
The latest market data confirms the Nifty IT surge of 4.23% to 31,116.55, led by Infosys which gained +5.68% to ₹1,270.80 on June 2, 2026. This rally was driven by continued agentic AI deal momentum and institutional accumulation ahead of the Wipro buyback record date on June 5. Ankit Jaiswal of Univest notes that the Wipro buyback record date on June 5 keeps IT sector institutional buying active through June 3, providing primary support for the positive setup. The FII selling moderation from ₹21,106 crore to ₹3,912 crore on June 1 represents the most significant positive development, with Kunal Singla flagging this as the structural game-changer. The DII buying of ₹5,109 crore on June 1 and the cumulative May DII buying of over ₹65,000 crore confirm that domestic institutions remain the anchor for the current market predictions. Sudeep Shah of SBI Securities reports that market breadth was firmly positive, as the advance-decline ratio favoured advancers, with 300 stocks from the Nifty 500 universe closing in the green, highlighting underlying strength in the broader market.
