Top Gainers & Losers on June 5: Adani Green, Ather Energy, OLA, CarTrade Tech, YES Bank Lead the Pack

Indian Stock Market Remains Volatile Despite RBI Measures

The Indian stock market continued to experience volatility on Friday, 5 June, despite the Reserve Bank of India (RBI) announcing measures to ease pressure on the rupee and keep interest rates unchanged for the third straight meeting. The RBI's decision, in line with expectations, was made by the Monetary Policy Committee (MPC) led by Governor Sanjay Malhotra.

The Nifty 50 recovered from its day's low but still ended the trade with a 0.21% cut at 23,362, while the Sensex closed 0.13% lower at 74,261. The broader market also mirrored the weak trend, as both the Nifty Midcap 100 and Nifty Smallcap 100 indices ended in the red.

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Sectoral performance was mixed, with Nifty Media leading the gainers' list by rallying 3.75%. It was followed by Nifty Realty, Nifty PSU Bank, Nifty Pharma, and Nifty FMCG, all of which closed with gains between 0.24% and 0.46%. On the flip side, Nifty Metal and Nifty IT were among the top laggards, falling 1.58% and 1.10%, respectively.

In terms of weekly performance, the Nifty 50 lost 0.8% of its value, extending its losing streak to a second straight week, while the Sensex also closed lower for the second consecutive week. Despite sustained selling by Foreign Portfolio Investors (FPIs), the losses remained contained as domestic institutional investors absorbed most of the overseas outflows.

The RBI raised its inflation projection for the ongoing financial year to 5.1% from 4.6% and trimmed its GDP growth expectation to 6.6% from 6.9%. The Reserve Bank of India also announced steps to attract dollar inflows and ease pressure on the rupee from rising crude oil prices triggered by the Middle East war and record foreign outflows.

Zee Entertainment emerged as the top performer among Nifty 500 stocks, rallying 7.9% to ₹112.6 apiece. Jyoti CNC Automation and Himadri Speciality also posted strong gains of 6.5% each. Major electric two-wheeler stocks, including OLA Electric and Ather Energy, ended with solid gains of 3.9% and 5%, respectively.

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Adani Group stocks witnessed sharp buying interest amid multiple block deals, led by Adani Green Energy, which surged 7% to ₹1,522. Other group stocks, including Adani Energy Solutions, Adani Total Gas, Adani Enterprises, and Adani Ports & SEZ, also closed with gains of over 2%. Meanwhile, select new-age tech stocks such as Groww, CarTrade Tech, and Urban Company gained 3%, 2.8%, and 2%, respectively.

Among hospital and pharma stocks, Fortis Healthcare, Gland Pharma, Torrent Pharmaceuticals, and Ipca Laboratories advanced between 2% and 3%. Keeping its winning run intact for the second straight session, Schneider Electric jumped another 6% to ₹1,172 apiece. Other stocks including YES Bank, REC, NBCC (India), Hindustan Unilever, Canara Bank, and Home First Finance also ended with gains of over 2%.