Sensex Prediction for Thursday, June 4 by experts: Following a volatile trading session marked by sharp intraday swings, the key benchmark BSE Sensex is expected to witness a cautious-to-positive start on Thursday, June 4, as investors assess uncertainty related to US–Iran negotiations, a fresh spike in crude oil prices and persistent foreign fund outflows.
The 30-share BSE Sensex today, June 3, dropped 303.67 points, or 0.41 per cent, to settle at 74,346.17. During the day, it tanked 1,157.24 points, or 1.55 per cent, to 73,492.60. The 50-share NSE Nifty declined 77.95 points, or 0.33 per cent to end at 23,405.60.
Created with AI. Errors are possibleSensex gainers and losers on Wednesday, June 3
Sensex Prediction for Thursday, June 4 by experts
Market experts believe the robust recovery from lower levels indicates that buyers are actively defending key support thresholds, providing a critical ground for Thursday. However, the analysts emphasise that the index must cross major overhead hurdles to sustain the newfound momentum.
Sensex Prediction for Thursday, June 4 by Vipin Dixena
According to SEBI-registered analyst, Vipin Dixena, Sensex is showing signs of stabilization after a sharp decline, with the index rebounding from the crucial 73,560 support zone and attempting to reclaim the 74,600 resistance area.
“Despite the recovery, price continues to trade below the 50 EMA, indicating that the broader short-term trend remains weak. RSI has moved back above 50 from oversold levels, suggesting improving momentum and short-covering activity,” the analyst noted.
A sustained move above 74,600 can strengthen the recovery and open upside toward 75,000–75,200, while failure to hold above 74,000 may revive selling pressure toward 73,560, the expert added.
Sensex Prediction for Thursday, June 4 by Hitesh Tailor
Sector-wise, Telecommunication, Healthcare, PSU Banks, Private Banks, BANKEX, Top 10 Banks, and Hospitals witnessed buying interest and outperformed during the session.
On the other hand, Information Technology, Focused IT, FMCG, Realty, Consumer Durables, Commodities, Metal, Oil & Gas, and Utilities remained under pressure and ended lower. The sharp decline in IT stocks weighed on the broader market sentiment, while banking stocks provided some support and helped the market recover from intraday lows.
From a technical perspective, Tailor noted the Sensex witnessed a sharp intraday decline but managed to recover strongly from the crucial 73,300–73,500 support zone, indicating buying interest at lower levels.
“The index continues to face resistance near the 74,800–75,000 zone, where selling pressure has emerged repeatedly in recent sessions,” he said, adding that a decisive move above this resistance area could improve short-term sentiment, while sustained trading below it may keep the index range-bound.
“The overall market bias remains neutral to cautiously positive as the strong recovery from intraday lows suggests that buyers are still active near key support levels. However, the inability to sustain above higher levels and continued resistance around the 74,800–75,000 zone indicates that traders remain cautious,” he said.
Going forward, Tailor said sustained strength above support could lead to stock-specific buying opportunities, while a break below the 73,300–73,500 zone may trigger renewed selling pressure.
Sectoral performance on Wednesday, June 3
The BSE MidCap Select index declined 0.73 per cent and SmallCap Select index dipped 0.15 per cent. Among indices, Focused IT tanked 5.24 per cent, IT (5.01 per cent), Realty (1.52 per cent), FMCG (0.92 per cent), Consumer Durables (0.53 per cent) and Utilities (0.35 per cent).
Telecommunication jumped 2.04 per cent, PSU Bank (1.75 per cent), Bankex (0.91 per cent), Hospitals (0.90 per cent), Top 10 Banks (0.80 per cent), Private Banks Index (0.70 per cent) and MidSmall Private Banks Quality Tilt (0.63 per cent).
A total of 2,400 stocks declined, while 1,812 advanced and 174 remained unchanged on the BSE.
Brent crude, the global oil benchmark, jumped 3 per cent to USD 98.92 per barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 8,362.92 crore on Tuesday, according to exchange data.
Meanwhile, the US Trade Representative has proposed slapping 12.5 per cent additional duties on 54 countries, including India, for failing to prohibit the import of goods produced with forced labour.
The action follows investigations launched against 60 countries over what the USTR described as their failure to impose and effectively enforce bans on imports made with forced labour.
“The failure of our most important trading partners to address the importation of goods made with forced labour is unacceptable. This creates a dynamic where American workers are forced to compete globally on an unlevel playing field,” US Trade Representative Ambassador Jamieson Greer said in a statement.
On Tuesday, the Sensex climbed 382.50 points, or 0.52 per cent, to settle at 74,649.84. The Nifty rose by 100.95 points, or 0.43 per cent, to end at 23,483.55.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
