Sensex ends flat after volatile trade: 5 reasons why broader markets outperformed benchmarks today

The equity benchmark indices BSE Sensex and NSE Nifty ended in the green on Thursday (June 4) after a volatile session, with broader markets outperforming the headline indices and market breadth remaining positive.

The Sensex rose 14 points to close at 74,360, while the Nifty gained 11 points to settle above the 23,400 mark at 23,417. The Nifty Bank index extended gains for the third straight session, rising 122 points to 54,308. The Midcap Index outperformed, climbing 279 points to end at 60,967.

Market breadth stayed favourable for advances, with the NSE advance-decline ratio at 3:2.

Here are the five key reasons that shaped market action on Thursday:

1. Banking stocks extended gains for a third straight session

Banking stocks remained among the top contributors to benchmark indices, with ICICI Bank and HDFC Bank supporting the Nifty. Canara Bank rose over 1%, helping the Nifty Bank index close higher for the third consecutive session.

2. Broader markets outperformed benchmark indices

The broader market continued to see stronger participation than the benchmark indices. The midcap index rose 279 points, while the NSE advance-decline ratio stood at 3:2, keeping market breadth in favour of advancing shares.

Among midcap gainers were Voltas, CG Power, GMR Airports, Tata Communications and Sterling and Wilson Renewable Energy.

3. Titan surged after outlining FY30 jewellery targets

Titan gained over 3% after the company said it aims to double jewellery revenue by FY30 and target an 11% market share. The stock also emerged as one of the top contributors to the Nifty alongside ITC.

4. Oil marketing companies gained as Brent crude slipped below $96/bbl

Downstream oil companies advanced during the session after Brent crude prices fell below $96 per barrel. In contrast, upstream oil companies traded lower amid the decline in crude prices.

5. Power, education and EV-linked stocks saw buying interest

Power equipment stocks gained after a positive brokerage note, with Hitachi Energy India rising more than 4%.

In the broader market, PhysicsWallah surged over 15% after partnering with regulated NBFCs for student financing. Hero MotoCorp rose 1% after launching two flex-fuel motorcycles compatible with E20-E85 fuel, while JBM Auto gained nearly 3% after registering 157 electric buses in May 2026. On the sectoral front, the Nifty Metal index emerged as the top losing sectoral index, with NALCO falling over 5%.

From the Sensex basket, Titan Company Ltd, Eternal Ltd, Coal India Ltd, Adani Enterprises Ltd, ITC Ltd and State Bank of India were the major gainers. Infosys Ltd, Hindalco Industries Ltd, SBI Life Insurance Company Ltd, UltraTech Cement Ltd, JSW Steel Ltd and HCL Technologies Ltd were the biggest laggards.