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Nifty snaps three-day losing streak on Wednesday

04 Jun 2025 Evaluate

Indian equity benchmark -- Nifty -- snapped three-day losing streak and closed higher on Wednesday ahead of Reserve Bank’s monetary policy meeting outcome later in the week. Index made positive start followed by broadly firm cues from other Asian markets amid healthy U.S. labor market. Despite some volatile trade in morning session, index managed to trade in green as traders took some support with a survey showed that India's dominant services sector maintained its robust growth in May, fueled by strong export demand and record hiring, although price pressures intensified. The seasonally adjusted HSBC India Services PMI Business Activity Index was at 58.8 in May, marginally up from April's 58.7 and signalled another sharp rate of expansion. Meanwhile, the Organisation for Economic Co-operation and Development (OECD) in its latest 'Economic Outlook' has projected India’s economic growth at 6.3% in FY2025-26 and 6.4% in FY2026-27. In afternoon session, index magnified its gains and maintained it till the end of the session. In last leg of the trade, index came off from day’s high and ended above 24,600 mark.

Most of the sectorial indices ended in green except Realty stocks. The top gainers from the F&O segment were Rail Vikas Nigam, PB Fintech, and APL Apollo Tubes. On the other hand, the top losers were Aditya Birla Fashion and Retail, Cholamandalam Investment and Finance Company and Alkem Laboratories. In the index option segment, maximum OI continues to be seen in the 25900 - 26100 calls and 23900 - 24100 puts indicating this is the trading range expectation.

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