FINAL TRADE: Sensex gains 119 pts, Nifty settles at 18,534; Tata Steel up 2%, Infosys slips 1.5%

Stock market today, June 2: The benchmark indices traded in a narrow range on Friday, June 2, and ended with around 0.20 per cent gains. At close, the S&P BSE Sensex stood at 62,547.11, up 119 points, or 0.19 per cent while the NSE's Nifty settled 46 points, or 0.25 per cent higher at 18,534.10.

"Overall, we continue to maintain our positive outlook on the index for a target of 18,800 from a short-term perspective. In terms of levels, 18,460–18,420 shall act as the crucial support zone, while the hurdle zone is placed at 18,600–18,660," said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas. 

Nifty MidCap 100 and SmallCap 100 both ended around half a per cent higher, whereas Nifty MidCap 100 saw a record close. On the sectoral front, Nifty Bank closed 0.34 per cent higher at 43,937.85. 

Many sectoral indices traded actively during the session. For instance, the Nifty Metal index ended 1.22 per cent higher at 5,956 levels. The metal stocks rose on improved global prices. Among individual stocks, Hindalco climbed over 3 per cent followed by Tata Steel, which was up 2 per cent.

Besides, Apollo Hospitals gained another 3 per cent on Friday. Among auto stocks, Hero MotoCorp continued its positive run and is now less than 2 per cent away from its 52-week high level. Other auto stocks, too, rose in trade in reaction to the May sales numbers. Mahindra & Mahindra (M&M), Maruti Suzuki, and TVS Motors were up 2 per cent each.

Pharma stocks also experienced some buying; Dr Reddy’s Laboratories, Sun Pharma, and Laurus Labs were up over 1 per cent each. New-age stocks saw healthy gains on Friday and were up 4 per cent to 8 per cent.

In the Nifty50 basket, Bajaj Auto, Britannia, Tata Motors, and Apollo Hospitals hit 52-week highs. M&M Financial Services gained more than 1 per cent to hit a 52-week high after a strong May business update. Conversely, Infosys slipped 1.5 per cent.

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