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EQUITY
Post Session: Quick Review
Jun-03-2025

Indian equity benchmarks ended near the day’s low points on Tuesday, with both Sensex and Nifty closing over half percent losses ahead of the release of the HSBC Services PMI data scheduled for June 4. After a flat-to-positive start, soon markets turned negative, amid global uncertainty around Donald Trump's trade tariffs. In afternoon session, markets slipped into deep red and remained lower till end of the day, as traders stayed on the sidelines ahead of the Reserve Bank's Monetary Policy Committee (MPC) meeting, scheduled to begin on June 4, 2025.

Some of the important factors in today’s trade:

Trump's proposed 50% tariff hike may hit $5 billion engineering exports: Some cautiousness came as the Engineering Export Promotion Council of India said that US President Donald Trump's proposed 50 per cent tariff on steel and aluminium imports could severely impact India's engineering goods' shipments. 

FIIs offloads equities worth Rs 2,589.47 crore: Traders were cautious amid exchange data which showed Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,589.47 crore on Monday.  

Indian economy to be close to $30 trillion by 2047: Traders overlooked the G20 Sherpa Amitabh Kant said that India's economy, which is currently $4 trillion in size, is expected to be close to $30 trillion by 2047 and the country also has the advantage of younger demographics.   

Global front: European markets were trading mostly in red as trade tensions persisted, and investors looked ahead to the European Central Bank's policy meeting later in the week. Asian markets ended mostly in green even after China's manufacturing activity contracted for the first time in eight months in May as the rise in US trade tariff damped export orders.

The BSE Sensex ended at 80737.51, down by 636.24 points or 0.78% after trading in a range of 80575.09 and 81774.23. There was only stock advancing against 29 stocks declining on the index. (Provisional)

The broader indices ended in red; the BSE Mid cap index was down by 0.52%, while Small cap index down by 0.07%. (Provisional)

The few gaining sectoral indices on the BSE were Realty up by 1.24%, Basic Materials up by 0.17%, while Power down by 1.50%, Utilities down by 1.42%, Oil & Gas down by 0.95%, Bankex down by 0.89% and Energy down by 0.88% were the top losing indices on BSE. (Provisional)

The top gainers on the Sensex were Mahindra & Mahindra up by 0.50%. On the flip side, Adani Ports and Special Economic Zone down by 2.42%, Bajaj Finserv down by 1.74%, Bajaj Finance down by 1.69%, Power Grid Corp down by 1.62% and Eternal down by 1.53% were the top losers. (Provisional)

Meanwhile, the Commerce Minister Piyush Goyal has said that India and the US desire to give preferential market access to each other's businesses and teams of both the countries are working together on the proposed bilateral trade agreement. Talking about an announcement of Trump to double tariffs on steel and aluminium to 50 per cent, the minister said that the two countries will continue to work together to resolve all these issues bilaterally. 

Talking about India's free trade pact with four-European nation bloc EFTA, Goyal said $100 billion FDI (foreign direct investment) commitment under the agreement does not include money coming into stock market through FIIs. He said ‘this is solid FDI coming into the country...This $100 billion of FDI comes with technologies... It will (also) catalyse nearly $500 billion of investments roughly. With this investment, the whole ecosystem gets created, hotels come up, infrastructure comes up, power and water is utilised. The whole ecosystem will add much more to the economy. So it's a massive investments that we are looking coming through this EFTA agreement’.

The implementation process of this pact is progressing fast and is expected to come into force before the end of this year. The two sides signed the Trade and Economic Partnership Agreement (TEPA) on March 10, 2024. Under the pact, India has received an investment commitment of $100 billion in 15 years from the grouping while allowing several products such as Swiss watches, chocolates and cut and polished diamonds at lower or zero duties.

The CNX Nifty ended at 24542.50, down by 174.10 points or 0.70% after trading in a range of 24502.15 and 24845.10. There were 7 stocks advancing against 43 stocks declining on the index. (Provisional)

The top gainers on Nifty were Grasim Industries up by 1.12%, Shriram Finance up by 0.89%, Mahindra & Mahindra up by 0.68%, Bajaj Auto up by 0.58% and Cipla up by 0.20%. On the flip side, Adani Ports and Special Economic Zone down by 2.43%, Adani Enterprises down by 1.90%, Bajaj Finserv down by 1.83%, Coal India down by 1.71% and Power Grid Corp down by 1.64% were the top losers. (Provisional) 

European markets were trading mostly in red; UK’s FTSE 100 decreased 3.81 points or 0.04% to 8,770.45 and France’s CAC fell 21.09 points or 0.27% to 7,716.11, while Germany’s DAX gained 44.58 points or 0.19% to 23,975.25.

Asian markets ended mixed on Tuesday amid the White House flagging imminent trade talks with China and calling for best-offer proposals from trade partners to fast-track trade negotiations. China's Shanghai Composite index rose as weak PMI data as well as looming trade risks spurred stimulus hopes. Hong Kong's Hang Seng index rallied, led by tech stocks with Tencent and Alibaba rising around 1 percent. Japanese markets gave up early gains to end flat with negative bias ahead of a fifth round of ministerial-level talks in the U.S. to be held this week. Meanwhile, South Korea market was closed for its presidential election.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,361.98

14.49

0.43

Hang Seng

23,512.49

354.52

1.51

Jakarta Composite

7,044.82

-20.25

-0.29

KLSE Composite

1,503.25

-5.10

-0.34

Nikkei 225

37,446.81

-23.86

-0.06

Straits Times

3,894.38

3.79

0.10

KOSPI Composite

--

--

--

Taiwan Weighted

21,126.93

124.22

0.59
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