Domestic stock markets witnessed sharp volatility today, June 3 driven by a confluence of factors including rich valuations, the weekly expiry of index derivatives, and global uncertainty surrounding Donald Trump’s trade tariff rhetoric.
The BSE Sensex fluctuated in a dramatic 1,200-point range, hitting an intraday high of 81,774 and a low of 80,575, before closing at 80,737 — down 636 points or 0.78 per cent. The NSE Nifty50 mirrored the volatility, swinging nearly 350 points and ending the session at 24,543, a loss of 174 points or 0.7 per cent.
Market breadth was weak, with 43 of the 50 Nifty constituents ending in the red. Major drags included Adani Ports, Adani Enterprises, Coal India, Bajaj Finserv, Power Grid, Ultratech Cement, Bajaj Finance, Apollo Hospitals, IndusInd Bank, Maruti Suzuki, SBI Life, Axis Bank, NTPC, HDFC Life, TCS, Kotak Bank, and Tata Motors — all shedding between 1 to 2 per cent.
The broader markets also experienced a choppy session. While the Nifty MidCap index declined by 0.45 per cent, the Nifty SmallCap index managed to close marginally higher by 0.1 per cent, erasing morning gains.
Sectorally, financial and IT stocks were under pressure. The Nifty Private Bank index lost over 1 per cent, PSU Bank fell 0.59 per cent, IT dropped 0.67 per cent, and FMCG slid 0.49 per cent. On the other hand, the Nifty Realty index bucked the trend with a gain of over 1 per cent.
Investor sentiment remained cautious amid global economic headwinds and uncertainty over trade dynamics, contributing to the day’s wild market ride.
