After snapping a two-day losing streak on Tuesday, Indian benchmark indices are expected to remain cautiously positive on Wednesday, June 10, with analysts pointing to improving momentum in banking and financial stocks while warning that key resistance levels must be crossed for a sustained rally.
Sensex at close on Tuesday, June 9
Created with AI. Errors are possibleA total of 2,782 stocks advanced, while 1,423 declined and 193 remained unchanged on the BSE.
Sensex gainers and losers on Tuesday, June 9
Market participants drew comfort from signs of easing tensions in West Asia, softer crude oil prices and a rebound in global equities. However, continued foreign institutional investor (FII) selling remains a key concern for investors heading into Wednesday’s trade.
Sensex Prediction for Wednesday, June 10 by Vipin Dixena
According to SEBI-registered analyst, Vipin Dixena, Sensex is showing signs of a short-term recovery after rebounding strongly from the 73,400 support zone. “The index has formed a series of higher lows and is now testing the key resistance area near 74,000, which also coincides with the declining 50 EMA. RSI has moved above 50 and is trending higher, indicating improving bullish momentum and increasing buying interest,” he said.
He believes a decisive breakout above 74,000 and the 50 EMA could trigger further upside towards 74,400–74,700, while failure to sustain above resistance may lead to another consolidation phase with support at 73,400.
“Overall bias has shifted from bearish to cautiously bullish in the near term, but confirmation of a stronger trend reversal requires a sustained move above the 50 EMA and resistance zone,” Dixena concluded.
Sensex Prediction for Wednesday, June 10 by Hitesh Tailor
“On 9th June 2026, the BSE Sensex closed at 73,918.76, gaining 394.50 points (+0.54%) amid a recovery in market sentiment and strong support from banking stocks. The index opened gap-up by around 511 points at 74,035.41, which also remained the day’s intraday high. Following the strong opening, the market witnessed profit booking during the first half of the session, dragging the Sensex to an intraday low of 73,426.18,” said Hitesh Tailor, Technical Research Analyst at Choice Broking.
However, buying interest emerged from lower levels, helping the index recover a significant portion of its losses. The benchmark gradually moved higher through the latter half of the session and eventually settled at 73,918.76, reflecting resilience despite intraday volatility, he said.
Sector-wise, PSU Banks, BANKEX, Services, Private Banks, Financial Services, Realty, Top 10 Banks, Auto, Industrials, Consumer Discretionary, Capital Goods, Commodities, Healthcare, FMCG, Metal, Energy, Telecommunication, Consumer Durables, Oil & Gas, and Hospitals witnessed buying interest and outperformed during the session.
Tailor further stated Banking and financial stocks led the recovery, providing strong support to the broader market. On the other hand, Information Technology, Focused IT, and Utilities remained under pressure and underperformed, limiting the overall upside. Broader market participation remained positive with buying visible across most major sectors.
From a technical perspective, Tailor stated the Sensex successfully defended the 73,000-73,200 support zone and witnessed a healthy rebound from intraday lows.
“The recovery after early profit booking indicates continued buying interest at lower levels and suggests that market participants remain optimistic despite recent volatility. On the upside, the 74,500–74,700 zone remains an immediate resistance area, where fresh momentum will be required for a sustained breakout,” he said.
For Wednesday’s trading, the analyst said, “The overall market bias remains cautiously positive as the index recovered strongly from intraday lows and managed to close well above the day’s low despite early profit booking. The ability to hold above key support levels indicates improving sentiment and selective accumulation at lower levels.”
He further said as long as the Sensex sustains above the 73,000–73,200 support zone, the possibility of further recovery remains intact. “However, a decisive move above 74,500–74,700 will be crucial to strengthen bullish momentum and improve the broader market outlook,” concluded Tailor.
Sectoral performance on Tuesday, June 9
The BSE MidCap Select index jumped 1.50 per cent, and the SmallCap Select index went up by 1.33 per cent.
Sectorally, PSU Bank surged 3.83 per cent, MidSmall Private Banks Quality Tilt jumped 3.06 per cent, Bankex (2.18 per cent), Services (2 per cent), Realty (1.76 per cent), Financial Services (1.60 per cent) and Top 10 Banks (1.59 per cent).
In contrast, IT, Utilities and Focused IT were the laggards.
Brent crude, the global oil benchmark, declined 1.66 per cent to USD 92.69 per barrel.
Meanwhile, Foreign Institutional Investors (FIIs) offloaded equities worth Rs 5,555.67 crore on Monday, according to exchange data.
On Monday, the Sensex tumbled 719.08 points, or 0.97 per cent, to close at 73,524.26. The Nifty settled 243.70 points, or 1.04 per cent, lower at 23,123.
(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.)
