Last Updated:
Benchmark indices Sensex and Nifty are expected to start Monday, June 2, 2025, on a muted note
Sensex Today (Source: Freepik)
Sensex Today: Domestic stock markets staged a sharp intraday rebound to end Monday’s session only mildly lower. The BSE Sensex closed at 81,374, down by 77 points or 0.09%, after recovering 719 points from its intraday low of 80,654. The NSE Nifty50 settled at 24,717, shedding 34 points or 0.14%, but well off the day’s low of 24,526.
Early in the session, sentiment was dampened by US President Donald Trump’s announcement of fresh tariffs on steel imports, raising the rate to 50% from 25% effective June 4. Renewed tensions between Russia and Ukraine, India’s rising Covid-19 cases, FII volatility, and nervousness ahead of the Reserve Bank of India’s monetary policy meeting also weighed on the market.
However, buying interest in select stocks including Adani Ports, M&M, Eternal (Zomato), PowerGrid, HUL, Bajaj Finserv, ITC, ICICI Bank, Asian Paints, and Nestle India helped the benchmarks recoup most of their losses. These stocks gained between 0.4% and 2%.
Broader markets outperformed, with the Nifty MidCap and Nifty SmallCap indices rising 0.62% and 1.1%, respectively.
Sectorally, the Nifty IT and Nifty Metal indices were the worst performers, each down 0.7% on Trump’s tariff threats. In contrast, the Nifty Realty and Nifty PSU Bank indices rallied over 2% each.
Global Cues
Asian markets opened mixed after US President Donald Trump announced a steep hike in steel import tariffs. Addressing steelworkers in Pennsylvania late Friday, Trump said tariffs on steel imports would double to 50% starting Wednesday, aiming to bolster the US steel industry. He confirmed the June 4 implementation date via a Truth Social post.
Following the news, Japan’s Nikkei index declined 1.21%, while the Topix slipped 0.83%. Australia’s ASX200 dipped 0.1%. However, South Korea’s Kospi bucked the trend and was up 0.3%.
Markets in China, Malaysia, and New Zealand were closed for public holidays.
Meanwhile, US stock futures edged lower ahead of the June kickoff. Futures on the S&P 500 and Nasdaq-100 were down 0.3%, while Dow Jones futures dropped 0.3%.
On Friday, Wall Street ended mixed. The S&P 500 closed marginally lower, down 0.01%, while the Nasdaq shed 0.32%. The Dow Jones Industrial Average gained 0.13%.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
- First Published:
Source link
[ad_3]
