Market Wrap, June 2: Headline indices see impressive recovery from day's low; NIFTY50 ends at 24,716.60, SENSEX sheds 77 pts

The Indian equity benchmark indices settled lower but recovered from the day's low on Monday, June 2, amid support from the broader market and banking stocks.

Investors remained worried as US President Donald Trump doubled tariffs on imported steel and aluminium.

Meanwhile, the broader market outperformed the main equity indices while the market breadth was in favour of positives at the end of the session.

Globally, most of the Asian stocks ended lower on Monday following US-China trade tensions. Only South Korea’s Kospi settled with gains, rising marginally 0.05%, ending at the 2,698.97 level.

The Nikkei 225 tumbled 1.32% to the 37,470.67 level, while Hong Kong's Hang Seng fell 0.57% to the 23,157.97 level.

The US stocks closed mixed last week as Trump slammed China before sounding upbeat about reaching a trade deal.

The Dow Jones Industrial Average gained 54.34 points, or 0.13%, to 42,270.07. The S&P 500 declined 0.48 points, or 0.01%, at 5,911.69, and the Nasdaq Composite slipped 62.11 points, or 0.32%, to close at 19,113.77.

As many as 3,014 stocks traded on the NSE on Monday. Out of this, 1,529 advanced, and 1,402 declined, while 83 scrips remained unchanged.

This, however, indicates that the market breadth favoured positives.

A total of 68 stocks hit their 52-week highs, while 38 stocks touched their one-year lows. Besides, 109 stocks hit their upper circuit limits, and 103 touched their lower circuit bands on Monday.

NSE-listed firms' market capitalisation stood at ₹443.28 lakh crore at the end of the session.

The volatility index India VIX surged 6.71% to end at 17.61 levels.

The broader market outperformed the main equity indices as Nifty Midcap 100 gained 0.62% at the 57,775.55 level, while Nifty Smallcap 100 closed 1.19% higher at the 18,095.55 level.

Hero MotoCorp (-2.05%) was the top loser on the index, followed by HDFC Life Insurance (-1.53%), JSW Steel (-1.48%), Tech Mahindra (-1.45%) and Bajaj Auto (-1.24%).

On the other hand, Adani Ports (2.20%) led the pack of gainers on the 50-share index. Mahindra & Mahindra (1.59%), Eternal (1.10%), Power Grid (1.05%) and Tata Consumer Products (0.91%) were the other winners.

Nifty IT and Nifty Metal were the biggest losers, slumping 0.70% each. Nifty Consumer Durables (-0.48%), Nifty Pharma (-0.22%) and Nifty Oil and Gas (-0.21%) were the other sectoral losers.

However, Nifty Realty (2.31%) and Nifty PSU Bank (2.15%) were the top contributors.