Synopsis : Indian stock markets remained volatile on June 5 despite the RBI maintaining interest rates and announcing measures to support the rupee. While Adani Group stocks, electric vehicle players, and media stocks rallied strongly, metal and technology counters faced heavy selling pressure.
Market Ends Lower Despite RBI Support Measures
The Indian stock market witnessed another volatile trading session on June 5, with benchmark indices ending marginally lower despite supportive measures announced by the Reserve Bank of India (RBI). Investors remained cautious amid concerns over rising inflation projections, slowing economic growth forecasts, and continued foreign institutional investor (FII) selling.
The Nifty 50 closed 0.21% lower at 23,362, while the Sensex slipped 0.13% to settle at 74,261. Broader markets also remained under pressure as both the Nifty Midcap 100 and Nifty Smallcap 100 indices ended in negative territory.
Sectoral Performance Remains Mixed
Sector-wise performance remained mixed throughout the session. Nifty Media emerged as the top-performing sector, surging 3.75%, followed by gains in Nifty Realty, Nifty PSU Bank, Nifty Pharma, and Nifty FMCG.
On the other hand, Nifty Metal and Nifty IT were among the worst-performing sectors, declining 1.58% and 1.1%, respectively, amid profit booking and weak investor sentiment.
RBI Keeps Rates Unchanged, Revises Growth and Inflation Outlook
The RBI's Monetary Policy Committee (MPC), led by Governor Sanjay Malhotra, kept the repo rate unchanged at 5.25% for the third consecutive policy meeting while retaining its neutral policy stance.
The central bank also raised its FY27 inflation forecast to 5.1% from 4.6% and lowered GDP growth projections to 6.6% from 6.9%. Additionally, the RBI announced measures aimed at attracting dollar inflows and reducing pressure on the rupee.
Zee Entertainment Leads Gainers List
Among individual stocks, Zee Entertainment emerged as the biggest gainer among Nifty 500 constituents, rallying 7.9% to ₹112.6 per share.
Jyoti CNC Automation and Himadri Speciality Chemical also posted impressive gains of 6.5% each, supported by strong buying interest.
EV Stocks Continue Their Winning Momentum
Electric vehicle manufacturers remained in focus, with OLA Electric gaining 3.9% and Ather Energy advancing 5%.
The rally reflected continued investor optimism surrounding India's growing EV ecosystem and long-term growth prospects within the sector.
Adani Group Stocks Rally on Block Deal Activity
Adani Group stocks witnessed sharp buying interest following multiple block deals.
Adani Green Energy surged 7%, while Adani Energy Solutions, Adani Total Gas, Adani Enterprises, and Adani Ports & SEZ closed with gains of more than 2%, making the group one of the standout performers of the session.
New-Age Tech and Healthcare Stocks Attract Buyers
The new-age technology segment also saw selective buying, with Groww, CarTrade Tech, and Urban Company rising between 2% and 3%.
Healthcare and pharmaceutical counters remained resilient as investors sought defensive plays. Fortis Healthcare, Gland Pharma, Torrent Pharmaceuticals, and Ipca Laboratories gained between 2% and 3%.
Financial Stocks Provide Stability
Several financial and banking stocks ended higher despite the broader market weakness.
YES Bank, REC, NBCC (India), Canara Bank, Hindustan Unilever, and Home First Finance advanced over 2%, helping limit losses in benchmark indices.
Wockhardt Tops Losers List
On the downside, pharmaceutical major Wockhardt emerged as the biggest loser, tumbling 7.3% and erasing a portion of its recent gains.
Metal and Technology Stocks Face Selling Pressure
Metal stocks remained under pressure throughout the session. Hindustan Zinc, National Aluminium, Vedanta, and Hindalco Industries witnessed notable declines.
Technology and industrial names such as Netweb Technologies, HFCL, Tejas Networks, Redington, Wipro, IFCI, and Anant Raj also featured among the day's major losers, each falling more than 3%.
Weekly Performance Remains Weak
For the week, both benchmark indices extended their losing streak to a second consecutive week.
The Nifty 50 declined 0.8%, while the Sensex also closed lower as investors remained cautious amid global uncertainties, elevated crude oil prices, and persistent foreign fund outflows.
Despite these challenges, strong participation from domestic institutional investors helped absorb a significant portion of overseas selling and prevented a deeper market correction.
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