AMN
– After a volatile trading session, domestic equity markets ended slightly lower on Monday but managed to recover significantly from the day’s lows. The BSE Sensex closed at 81,374, down 77 points or 0.09%, after rebounding 719 points from its intraday low of 80,654. Similarly, the NSE Nifty50 settled at 24,717, slipping 34 points or 0.14%, recovering from a low of 24,526.
The session began on a weak note, weighed down by global uncertainties, including U.S. President Donald Trump’s decision to double tariffs on steel imports to 50%, effective June 4. Geopolitical tensions between Russia and Ukraine, a rise in India’s COVID-19 cases, volatile foreign institutional investment (FII) flows, and caution ahead of the Reserve Bank of India’s monetary policy announcement also dampened investor sentiment.
However, selective buying in frontline stocks helped trim losses. Shares of Adani Ports, Mahindra & Mahindra, Zomato, PowerGrid, Hindustan Unilever, Bajaj Finserv, ITC, ICICI Bank, Asian Paints, and Nestle India gained between 0.4% and 2%, providing support to the benchmarks.
In the broader markets, the mood was more upbeat. The Nifty MidCap and Nifty SmallCap indices rose 0.62% and 1.1%, respectively, outperforming the benchmarks.
On the sectoral front, Nifty IT and Nifty Metal were the biggest laggards, each declining 0.7% amid concerns over the U.S. tariff hike. In contrast, Nifty Realty and Nifty PSU Bank indices led the gains, each rising over 2%.
