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Benchmark indices Sensex and Nifty are expected to start Monday, June 2, 2025, on a muted note
Sensex Today (Source: Freepik)
Sensex Today: Indian benchmark indices — BSE Sensex and NSE Nifty — opened in the red on Monday, dragged down by a slew of global and domestic concerns. Investor sentiment was dented by US President Donald Trump’s newly announced tariffs on steel imports, a surge in domestic Covid-19 cases, selling by foreign institutional investors (FIIs), escalating Russia-Ukraine tensions, and caution ahead of the Reserve Bank of India’s (RBI) monetary policy decision.
In early trade, the Sensex dropped 581 points, or 0.71%, to 80,870, while the Nifty slipped 165 points, or 0.67%, to 24,586.
Top Drags and Gainers
HDFC Bank, L&T, Tata Steel, HCL Tech, Reliance Industries, Bajaj Finance, Infosys, Tech Mahindra, Bharti Airtel, Kotak Bank, Axis Bank, and Tata Motors were among the top laggards, with declines of up to 1.7%.
On the flip side, HUL, Adani Ports, IndusInd Bank, Nestle India, and SBI helped limit broader market losses.
Broader Market and Sectoral Trends
The broader market saw a mild decline, with the Nifty MidCap and SmallCap indices down 0.3% each. The India VIX, which measures market volatility, spiked 8% in early deals, reflecting heightened investor nervousness.
Among sectors, the Nifty IT index led the fall with a 1% drop, followed by the Nifty Metal index down 0.9%. Bucking the trend, the Nifty PSU Bank index gained 1.16% in early trade.
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
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