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June 02, 2025

TLDR

📈 Market Recap: June 02, 2025

On June 2, 2025, Indian equity markets closed marginally lower, recovering from early losses. The BSE Sensex fell by 77.26 points (0.09%) to close at 81,373.75, while the NSE Nifty 50 declined by 34.10 points (0.14%) to settle at 24,716.60.

Key Drivers:

  • Global Trade Tensions: Renewed concerns over US-China trade relations and the announcement of increased US steel tariffs impacted investor sentiment.

  • Sector Performance: The IT and metal sectors faced selling pressure due to global uncertainties, while the FMCG, PSU banks, and realty sectors witnessed buying interest.

  • Investor Sentiment: Despite strong Q4 GDP growth of 7.4%, markets remained cautious amid global headwinds.

Today’s Top Stories:

  1. US Steel Tariffs Impact Indian Metal Stocks: The US plans to double steel import tariffs, leading to declines in Indian metal stocks like JSW Steel and Tata Steel. $JSWSTEEL.NSE ( ▼ 0.49% ) $TATASTEEL.NSE ( ▼ 1.09% ) $SAIL.NSE ( ▼ 0.4% ) 

  2. Yes Bank Shares Surge Ahead of Fundraising Meeting: Yes Bank shares jumped 8.1% ahead of a board meeting to consider fundraising options. $YESBANK.NSE ( ▼ 9.78% ) 

  3. Fiscal Gap on Target at 4.8 %: Meeting FY25 goal underpins credibility, keeps FY26 consolidation track intact.

  4. Adani Ports Approves $1 Billion Fundraising Plan: Adani Ports' board approved raising up to $1 billion through senior notes, boosting shares by 2.2%. $ADANIPORTS.NSE ( ▼ 2.07% ) 

  5. Diesel Exports Shift East: Multi-year highs to SE Asia lift refining margins, supporting energy majors’ shares.

MARKETS

Market Snapshot

Nifty 50 Index Heatmap

Top Gainers & Losers

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TOP STORIES

1. US Steel Tariffs Impact Indian Metal Stocks

DALL-E

  • Policy Change: US President Trump announced plans to double tariffs on imported steel from 25% to 50%, effective June 4.

  • Strategic Implication: The move is expected to pressure global steelmakers, including Indian companies.

  • Market Reaction: Shares of JSW Steel, Tata Steel, and SAIL declined following the announcement.

2. Yes Bank Shares Surge Ahead of Fundraising Meeting

DALL-E

  • Corporate Action: Yes Bank's board is set to meet on June 3 to consider fundraising options.

  • Strategic Implication: The potential capital infusion aims to strengthen the bank's financial position.

  • Market Reaction: Shares rose by 8.1% to ₹23.22, leading gains in the Nifty Midcap 100 index.

3. Fiscal Gap on Target at 4.8 %

DALL-E

  • Metrics: Final gap at ₹16.9 tn — 100.5 % of Budget estimate, in line with revised goal of 4.8 % of GDP.

  • Implications: Hitting the mark bolsters credibility ahead of FY26’s 4.4 % glide-path and supports India’s investment-grade outlook, say economists. 

  • Market take: Bond traders expect supply pressure to stay manageable; 10-year yield hovered near 6.7 % into the weekend.

4.  Adani Ports Approves $1 Billion Fundraising Plan

DALL-E

  • Fundraising Initiative: Adani Ports and Special Economic Zone Ltd. approved raising up to $1 billion through senior notes over the next six quarters.

  • Strategic Implication: The funds will support the company's expansion plans and strengthen its balance sheet.

  • Market Reaction: Shares rose by 2.2% to ₹1,464.30, making it the top gainer on the Nifty 50.

5. Diesel Exports Shift East

DALL-E

  • Data: May diesel shipments seen at 1.9 mn t — highest since 2021 — as Asian cracks outpay Europe, show ship-tracker data. 

  • Strategic angle: Indian refiners pivot cargoes eastward amid costlier West-of-Suez freight; tightens supply in Europe, buoying margins. 

  • Market reaction: Analysts cite tailwinds for Reliance & OMCs; RIL gained 0.4 % on margin optimism. 

GYAANI HOT TAKES

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