Stock Market Today: Key Triggers And Stocks To Watch On June 2

Indian equities are set to begin the June 2 session on a subdued note, with GIFT Nifty trading 0.61% lower at 23,279.5 in early trade, indicating weakness after the benchmark indices posted sharp losses in the previous session.

The Nifty 50 closed below the 23,400 mark for the first time since May 13, while the Sensex ended more than 500 points lower. During Friday’s session, the Nifty swung from an intraday high of 23,733.70 to a low of 23,382.60 before settling in the red. The Sensex also erased gains and finished near 74,267 after falling nearly 1,100 points from its day’s peak.

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Global Markets

U.S. markets ended higher despite a rise in crude oil prices. The S&P 500 gained 0.26% to close at 7,599.96, while the Nasdaq Composite advanced 0.42% to 27,086.81. The Dow Jones Industrial Average added 0.09% to finish at 51,078.88.

Asian markets, however, opened lower as investors assessed developments surrounding U.S.-Iran tensions. Japan’s Nikkei 225 declined 0.52%, while the broader Topix index fell 0.98%. South Korea’s Kospi slipped 0.32%, and the Kosdaq dropped 2.5% in early trade.

Commodities In Focus

Crude oil remained firm after recording its strongest daily gain in nearly a month. Brent crude traded below $95 per barrel, while West Texas Intermediate hovered near $92 per barrel amid concerns over potential disruptions to energy supplies from the Middle East.

Gold prices remained under pressure and were quoted near $4,490 per ounce, according to Bloomberg data.

Stocks In News

NMDC reported iron ore production of 5.31 million tonnes in May, up from 4.43 million tonnes a year earlier, while sales declined to 4.04 million tonnes. Coal India offered 257.42 lakh tonnes of coal and coal products during May and allocated 84.20 lakh tonnes through the SWMA e-auction route.

Maruti Suzuki's total production rose 17.4% year-on-year to 2.3 lakh units, while Force Motors reported a 15.4% decline in total sales to 2,614 units.

Wipro's subsidiary will acquire an additional 20% stake in Aggne Global for $28.5 million. Ola Electric opened its qualified institutional placement issue with a floor price of ₹37.74 per share.

NHPC will launch its offer-for-sale on June 2 for non-retail investors and June 3 for retail investors. The government plans to divest up to 3% equity, with an option to sell an additional 3%, at a floor price of ₹71 per share. Anant Raj signed an agreement with the Haryana government to invest ₹25,000 crore in data centre and cloud infrastructure projects. Meanwhile, ACME Solar Holdings commissioned a 33.3 MW battery energy storage project in Jodhpur.

F&O Cues

Nifty June futures traded at 23,459.90, down 1.22%, indicating a premium of 77 points over the spot index. The highest call open interest was seen at the 24,000 strike, while the highest put open interest stood at 23,000. Amber Enterprises and Kaynes Technology remained under the F&O ban list for the session.

Market participants will track global developments, crude oil movements and company-specific announcements for directional cues during the day.