So market took a bit of tumble today on June 3,2026 . Was looking at numbers and main reason seems to be heavy selling pressure in IT sector.
Nifty settled at 23,405.60,which is down by 77.95 points or 0.33% . And Sensex also closed lower at 74,346.17,a drop of 303.67 points or 0.41% . Not a great day overall .
And main villain for today's story was IT sector only . The Nifty IT index fell over 5% which is a huge drop and it dragged down the whole market with it.
But thankfully,there was some recovery from day's lows . This was mostly because of gains in public sector and financial stocks,which helped to balance things out a little bit .
And honestly,this is where things get tricky for traders.
Analysts are now saying that 23,500 mark is very crucial for Nifty's future movement . If it stays above this,sentiment might improve and we could see recovery towards 23,600 and 23,800 levels . On other side,support is seen between 23,300 and 23,350.
Few things standing out from today's session:
- IT sector struggles badly with Nifty IT index falling over 5%.
- Strong PSU bank performance helped to limit the overall losses .
- Rupee also under pressure for second day,which is not helping ah.
Looking at individual stocks,the top gainers were Apollo Hospitals Enterprise,Tata Motors Passenger Vehicles,InterGlobe Aviation,and Max Healthcare Institute . And the big laggards were obviously from IT pack like Tata Consultancy Services,Tech Mahindra,and HCLTech.
Broader markets also showed cautious mood . Nifty MidCap index ended 0.42% lower and Nifty SmallCap index was down by 0.11% . So selling was pretty much everywhere.
Everyone is just watching IT sector rn . Its weakness is really affecting the entire market sentiment. If these stocks don't find some stability,not sure what will happen next… feels like we are in for some choppy sessions ahead.
