Market Wrap, June 3: SENSEX falls 636 points, NIFTY50 settles below 24,550 level; Adani Ports, Adani Enterprises top losers

The Indian stock market settled lower for the third consecutive session on Tuesday, June 3, amid foreign investors withdrawing funds from Indian equities, weak global cues and renewed talks of the implementation of tariffs.

The broader market, however, ended mixed, with small-cap stocks ending positive.

Among sectors, the realty index outperformed, while Nifty Bank slipped 0.54% after touching an all-time high of the 56,161.40 level.

According to exchange data, on Monday, the foreign institutional investors (FIIs) sold equities worth ₹2,589.47 crore on a net basis, while the domestic institutional investors (DIIs) purchased ₹5,313.76 crore worth of equities.

Globally, on the first trading day of June, the US stocks ended higher on Monday as markets shrugged off mounting global trade tensions.

The Dow Jones Industrial Average ended with marginal gains, rising 35.41 points, or 0.08%, to close at 42,305.48, while the S&P 500 surged 24.25 points, or 0.41%, to end at 5,935.94 levels. The Nasdaq Composite gained 128.85 points, or 0.67%, to settle at the 19,242.61 level.

Taking cues from buoyant Wall Street gains, most of the Asian markets were trading higher on Tuesday.  

Hong Kong's Hang Seng gained 1.51% to close at the 23,512.49 level, the Shanghai Composite was ended 0.43% higher at the 3,361.98 level, while Singapore's Straits Times settled marginally lower by 0.10% at the 3,894.38 level. Meanwhile, Japan's Nikkei 225 declined 0.06% to end at the 37,446.81 level.

As many as 2,999 stocks traded on the NSE on Tuesday. Out of this, 1,696 declined, and 1,224 advanced, while 79 scrips remained unchanged.

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

A total of 60 stocks hit their 52-week highs, while 25 stocks touched their one-year lows. Besides, 103 stocks hit their upper circuit limits, and 71 touched their lower circuit bands on Tuesday.

NSE-listed firms' market capitalisation stood at ₹441.12 lakh crore at the end of the session.

The volatility index India VIX slumped 3.51% to 16.56 levels.

The NIFTY Midcap 100 index fell 0.45%, ending at 57,517.10 levels, while the NIFTY Smallcap 100 gauge rose 0.10% to close at 18,114.15 levels.

Adani Ports (-2.32%) was the top loser on the 50-share index, followed by Adani Enterprises (-1.89%), Coal India (-1.85%), Bajaj Finserv (-1.74%) and Power Grid (-1.67%).

On the flip side, Grasim (1.28%), Shriram Finance (1%), Bajaj Auto (0.65%), Mahindra & Mahindra (0.60%) and Dr Reddy’s (0.10%) were the top gainers on the index.

Except for Nifty Realty (1.2%) and Nifty Media (0.54%), all the other sectors ended with losses.

Nifty Private Bank (-1.17%), Nifty Oil and Gas (-0.77%), Nifty Consumer Durables (-0.71%), Nifty IT (-0.67%) and Nifty PSU Bank (-0.59%) were the biggest laggards.