Stock markets on June 3: Here are key things that changed for markets overnight

The Indian equity benchmarks are set to open higher as indicated by NIFTY Futures traded at Gift City in Ahmedabad. NIFTY Futures at Gift City also known as Gift NIFTY Futures rose 0.32% or 80 points to 24,850 amid stable cues from other Asian markets. In Monday's session, the Indian equity benchmarks ended marginally lower with SENSEX declining 77 points to close at 81,374 and NIFTY50 index fell 34 points to settle at 24,717.

Asian markets

Most of the Asian markets were trading higher after US markets moved closer to their record highs in the previous session. Japan's Nikkei rose 0.21%, Australia's S&P/ASX 200 index rose 0.35%, China's Shanghai Composite advanced 0.33%, Hong Kong's Hang Seng climbed 1.37% and South Korea's KOSPI gained 0.10%.

US markets

US stock indexes drifted closer to their records on Monday, coming off their stellar May, which was Wall Street’s best month since 2023.

The S&P 500 rose 0.4% after erasing an early loss from the morning. The Dow Jones Industrial Average added 35 points, or 0.1%, and the Nasdaq composite climbed 0.7%.

Indexes had been down close to 1% in the morning following some discouraging updates on U.S. manufacturing. President Donald Trump has been warning that U.S. businesses and households could feel some pain as he tries to use tariffs to bring more manufacturing jobs back to the country, and their on-and-off rollout has created lots of uncertainty, according to news agency AP.

Stocks to watch

The company, in its exchange filing, said that Mphasis continues to be a service provider in the FedEx ecosystem. "Other aspects of the article are purely speculative," it added.

Oil prices rose in early Asia trade on Tuesday on concerns about supply, with Iran set to reject a US nuclear deal proposal that would be key to easing sanctions on the major oil producer and with production in Canada hit by wildfires.

Both contracts, WTI and Brent, gained nearly 3% on Monday after OPEC+ agreed to keep output increases in July at 411,000 barrels per day, which was less than some in the market had feared, Reuters reported.

Torrent will use the liquefied natural gas (LNG) to generate electricity at its 2,730-megawatt gas-based power plants as well as meet city gas demand, it said in a statement.

In a regulatory filing on Monday, Godrej Properties said it will develop the 14-acre land parcel in Kharadi-Wagholi, Pune.

The approval is for the generic version of Victoza®, indicated for the treatment of insufficiently controlled Type 2 Diabetes Mellitus in adults, adolescents and children aged 10 years and above, as an adjunct to diet and exercise.

IPO market update

Scoda Tubes IPO allotment status was finalised on Monday, June 2. The bid finalisation details will be available on the websites of the BSE, the National Stock Exchange (NSE), and the registrar, MUFG Intime India.

The initial share sale received bids for 63,71,18,900 shares as against 1,18,46,169 equity shares on offer, leading to 53.78 times total subscription.

Non-institutional investors' portion attracted 113.03 times subscription, while the category for qualified institutional buyers (QIBs) was booked 69.51 times. The part set aside for retail investors got 19.40 times the subscription.

Stock market debut today

Shares of integrated power solutions provider Prostarm Info Systems, logistics company Blue Water Logistics and pharmaceutical products maker Astonea Labs will hit the secondary market on Tuesday, June 3.

FII/DII activity

Foreign institutional investors (FIIs) sold shares worth ₹2,589 crore on Monday while domestic institutional investors bought shares worth ₹5,314 crore.

In the futures and options segment, FIIs sold index options worth ₹947 crore while they bought index options worth ₹30,117.92 crore.

Trade setup for June 3

The week started on a negative note for NIFTY50, continuing the jitters from Donald Trump’s threat to double tariffs on the import of steel and aluminium to 50% and FIIs sell-off on the last trading day of May 2025. NIFY50 witnessed high volatility during the day but managed to bounce back sharply and recoup the losses from early trade. Consequently, NIFTY50 closed with a minor loss of 0.1% after a sharp intraday bounce.

The index took support near its multiple support area of 24,500 and witnessed a sharp bounce. Thus, NIFTY50 has formed a bullish hammer candlestick on June 02, indicating buyers' dominance. On the daily chart, the support is placed at 24,500 and on the upside 24,900, a prior swing high acts as a resistance.

NIFTY50, SENSEX F&O set up

On the options data front, the index continued to face heavy resistance at the 82,000 levels due to the highest open interest on the call side. On the downside, the 81,000 puts hold the highest open interest, indicating strong support for the current weekly expiry.