Sensex adds 510 pts, Nifty ends above 23,100 in fourth session gain

The key equity indices ended Tuesday with gains, extending their recovery for the fourth consecutive session. The Nifty opened sharply lower and slipped to an intraday low of 22,719.30 in early trade but gradually pared losses through the day. The index saw a steady recovery in the afternoon session, moving into positive territory and closing above the 23,100 mark. Gains were supported by strength in IT and metal stocks. Volatility remained elevated due to the weekly expiry of Nifty 50 contracts. Sentiment stayed cautious amid tensions in West Asia and uncertainty around a potential U.S.-Iran deal. Investors also remained watchful ahead of the RBI monetary policy decision on Wednesday, with expectations of a status quo on interest rates.

The S&P BSE Sensex climbed 509.73 points or 0.69% to 74,616.58. The Nifty 50 index soared 155.40 points or 0.68% to 23,123.65. In four consecutive sessions, the Sensex surged 3.70% while the Nifty gained 3.54%.

Infosys (up 2.59%), Bharti Airtel (up 2.13%) and ICICI Bank (up 1.39%) supported the indices today.

In the broader market, the BSE 150 MidCap index added 0.03% and the BSE 250 SmallCap index rose 0.16%.

The market breadth was strong. On the BSE, 2,671 shares rose and 1,555 shares fell. A total of 158 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, dropped 3.03% to 24.70.

Monsoon Forecast:

Private weather forecaster Skymet expects India's 2026 monsoon to be below normal at around 94% of the long-period average, with El Nino likely to strengthen and disrupt rainfall in the second half of the season. While June could begin on a stable note, rains are expected to turn erratic from July to September, with central and north-west regions facing deficits, even as eastern and northeastern parts fare relatively better.

Numbers to Track:

The yield on India's 10-year benchmark federal paper declined 0.30% to 7.022 compared with the previous session close of 7.043.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 93.0075 compared with its close of 92.9000 during the previous trading session.

MCX Gold futures for 5 June 2026 settlement rose 0.27% to Rs 150,390.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.09% to 99.92.

The United States 10-year bond yield fell 0.16% to 4.327.

In the commodities market, Brent crude for June 2026 settlement declined 89 cents or 0.81% to $108.88 a barrel.

Global Markets:

US Dow Jones futures fell 145 points, indicating a weak start for Wall Street later today.

European shares declined on Tuesday after a long weekend. Gains remained limited as investors stayed cautious ahead of US President Donald Trump's deadline for Iran to agree to a ceasefire, keeping geopolitical tensions in focus.

Asian shares ended mixed, with investors largely on the sidelines amid uncertainty around the Iran situation. Concerns over potential disruption to the Strait of Hormuz, a key global oil transit route, also weighed on sentiment.

US President Donald Trump warned of potential strikes on Iran's civilian infrastructure if a deal is not reached within 24 hours, while also indicating that negotiations are ongoing.

Trump reiterated his demand for Iran to reopen the Strait of Hormuz by Tuesday evening, warning of severe retaliation if the deadline is not met.

The US and Iran are discussing a framework to end their five-week conflict. However, Iran has pushed back against immediate reopening of the Strait under a temporary ceasefire and has outlined its own conditions, including an end to hostilities, sanctions relief, and reconstruction.

Overnight, Wall Street ended higher. The S&P 500 rose 0.44% to 6,611.83, the Nasdaq Composite gained 0.54% to 21,996.34, and the Dow Jones Industrial Average advanced 165.21 points, or 0.36%, to 46,669.88.

Stocks in Spotlight:

The Nifty IT index jumped 2.50% to 31,403.35. The index surged 8.05% in four consecutive trading sessions.

Mphasis rose 4.21%, while Wipro gained 3.71% and Larsen and Toubro Mindtree advanced 3.42%. Tata Consultancy Services added 2.81%, HCL Technologies climbed 2.65%, and Infosys increased 2.59%. Oracle Financial Services Software moved higher by 2.55%, while Tech Mahindra rose 1.66%. Persistent Systems gained 1.24%, and Coforge advanced 1.05%.

Tata Steel added 1% after the company announced that its India crude steel production jumped 15% to 6.25 million tons in Q4 FY26, compared with 5.44 million tons in Q4 FY25.

Jubilant FoodWorks tumbled 10.54%. The company said its consolidated revenue from operations stood at Rs 2,505.8 crore in Q4 FY26, up 19.1% year-on-year (YoY). The company's standalone revenue rose 6.2% YoY to Rs 1,686 crore. Domino's India like-for-like (LFL) growth came in at 0.2%, while Domino's Turkey recorded a 9% LFL growth (post Ind AS 29).

As per reports, the standalone revenue and Domino's India's like-for-like growth were weaker than anticipated.

Dynacons Systems & Solutions rallied 3.81% after it has bagged a Rs 25 crore contract from Jammu & Kashmir Bank for the design, implementation, and support of a centralized, enterprise-wide Enterprise Resource Planning (ERP) platform.

Titagarh Rail Systems surged 8.84% after the company's subsidiary, Titagarh Naval Systems, has received an in-principle approval from Ministry of Ports, Shipping and Waterways for its brownfield expansion project at Falta, West Bengal.

Godrej Consumer Products (GCPL) advanced 2.58% after the company said its standalone business is expected to deliver double-digit underlying sales growth and high-single digit underlying volume growth in Q4 FY26.

CreditAccess Grameen jumped 4.92% after the microfinance lender reported a strong operational performance for FY26, led by healthy disbursement growth, portfolio expansion and improvement in asset quality.

Gallantt Ispat surged 10.32% after the company reported a 59% year-on-year rise in pellet production to 2,21,612 MT in Q4 FY26 as against 1,39,697 MT in Q4 FY25.

Shyam Metalics & Energy rallied 3.58% after the company announced that its stainless steel sales volume jumped 58.91% to 10,519 MT in March 2026 as compared with 6,619 MT in March 2025.

Lodha Developers rose 0.89%. The company said that it has recorded quarterly pre-sales of Rs 5,890 crore in Q4 FY26, which is higher by 23% as compared with the pre-sales of Rs 4,810 crore registered in Q4 FY25.

Kalyan Jewellers India slipped 1.46% after its consolidated revenue climbed 64% YoY in Q4 FY26, driven by strong festive and wedding demand, robust same-store sales growth (SSSG), and sharp traction in its digital platform, Candere.

Alembic Pharmaceuticals jumped 5.22% after it has received final approval from the US Food & Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Dapagliflozin tablets in 5 mg and 10 mg strengths. The approved drug is therapeutically equivalent to AstraZeneca's reference listed drug (RLD), Farxiga. Dapagliflozin is a sodium-glucose cotransporter 2 (SGLT2) inhibitor used to reduce the risk of hospitalization for heart failure in adults with type 2 diabetes and to improve glycaemic control.

Indian Railway Finance Corporation added 0.18%. The company said that it has sanctioned and fully disbursed Rs 1,000 crore term loan to Maharashtra State Power Generation Company (MAHAGENCO).

Fino Payments Bank rose 2.10% after the bank said that it has added nearly 7 lakh new accounts in Q4 FY26, taking the total customer base to 1.75 crore accounts.

Aartech Solonics jumped 7.32% after the company announced it has received a purchase order worth Rs 1.26 crore from Zero Systems (Proprietorship).