Sensex Prediction for Friday by experts: Index may open cautiously positive amid RBI MPC meet outcome on June 5 – Key levels to watch – Markets

Sensex top gainers and losers on Thursday, June 4

Sensex Prediction for Friday, June 5 by experts

According to Vipin Dixena, SEBI-registered analyst, the Sensex is showing signs of a gradual recovery after bouncing from the crucial 74,000-74,100 support zone, with prices now approaching the key 74,600 resistance area and the declining 50 EMA.

He further said, the formation of higher lows over the last few sessions indicates improving short-term sentiment, while RSI has moved above 50, reflecting strengthening momentum.

“However, the index is still trading below a falling 50 EMA, suggesting the broader trend remains cautious. A decisive breakout above 74,600 can trigger further upside toward 75,000–75,200, whereas rejection near resistance may push the index back toward 74,100,” he added.

Echoing a similar view, Hitesh Tailor, Technical Research Analyst at Choice Broking, said the market continues to attract buying interest near the 73,500-73,800 support zone, highlighting strong demand at lower levels.

“On 4th June 2026, the BSE Sensex closed at 74,360.01, marginally higher by 13.84 points (+0.02%). The index opened gap-down by around 410 points at 73,935.83 and touched an intraday low of 73,807.30 during the initial trade. Buying interest emerged from lower levels, helping the index recover sharply and touch an intraday high of 74,544.24 in the first half. However, the market witnessed intermittent bouts of selling pressure during the session before buyers once again stepped in at lower levels. The Sensex eventually settled at 74,360.01, near the upper end of the day’s trading range, indicating resilience despite volatility,” he said.

Sector-wise, Consumer Durables, Capital Goods, Telecommunication, Industrials, Consumer Discretionary, Hospitals, Oil & Gas, Energy, Power, Realty, and Auto witnessed buying interest and outperformed during the session.

BANKEX, Financial Services, Private Banks, PSU Banks, and Top 10 Banks also ended with modest gains, supporting the broader market. On the other hand, Metal, Commodities, Information Technology, Focused IT, and Utilities remained under pressure and underperformed. “Overall, sectoral participation remained mixed, with strength in consumption and industrial-linked sectors offsetting weakness in metals and technology,” Tailor added.

From a technical perspective, Tailor said the Sensex once again attracted buying interest near the 73,500–73,800 support zone, highlighting the importance of this area in the short term.

“The index managed to recover from intraday lows and closed near the day’s high, reflecting sustained buying at lower levels. On the upside, the 75,000–75,200 zone continues to act as an immediate resistance area, where stronger momentum will be required for a meaningful breakout,” the analyst stated.

For Friday’s trade, he said the overall market bias remains neutral to cautiously positive as repeated buying interest near support levels indicates that bulls are defending lower zones effectively.

“The recovery from intraday lows and closing near the day’s high reflects improving sentiment; however, the index continues to trade below the key resistance zone of 75,000–75,200,” he said.

Tailor further captained, “A sustained move above this hurdle may strengthen bullish momentum, while failure to do so could keep the market range-bound with stock-specific action dominating in the near term.”

Sectoral indices performance on Thursday, June 4

The BSE SmallCap Select index jumped 1.02 per cent, and the MidCap Select index climbed 0.40 per cent.

Among indices, Consumer Durables climbed 1.94 per cent, Capital Goods (1.01 per cent), Telecommunication (0.82 per cent), Consumer Discretionary (0.72 per cent), Oil & Gas (0.57 per cent) and Power (0.41 per cent).

Metal declined 0.85 per cent, Commodities (0.49 per cent), IT (0.48 per cent), MidSmall Private Banks Quality Tilt (0.44 per cent) and Focused IT (0.02 per cent).

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 5,616.56 crore on Wednesday, according to exchange data.

Brent crude, the global oil benchmark, declined 1.68 per cent to USD 96.17 per barrel.

On Wednesday, the Sensex dropped 303.67 points, or 0.41 per cent, to settle at 74,346.17. The Nifty declined 77.95 points, or 0.33 per cent, to end at 23,405.60.

(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.)