Stock Market Today: All You Need To Know Going Into Trade On June 3 Vrathik Jain NDTV Profit

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The GIFT Nifty was down 0.17% at 24,850 as of 07:45 a.m. on Tuesday, signaling a marginally negative start to Indian markets today.

Asian shares opened cautiously on Tuesday following a rebound in major US technology stocks that lifted the S&P 500 by 0.4%, despite June historically being one of the quietest months for gains.

Meanwhile, US equity-index futures slipped 0.2%. Oil prices extended their gains early Tuesday, while gold held steady after recording its largest daily increase in four weeks.

President Trump has consistently maintained that direct talks with Chinese President Xi Jinping is the only way to resolve differences between the two countries. However, Xi has been hesitant to engage in direct phone conversations with Trump, preferring that advisers handle key negotiations. The last known conversation between Trump and Xi occurred in January, prior to the US president’s inauguration.

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Markets On The Home Turf

India’s benchmark equity indices closed lower for the second consecutive session on Monday, dragged down by shares of HDFC Bank and Reliance Industries.

The NSE Nifty 50 ended 34.1 points or 0.14% lower at 24,716.6, while the BSE Sensex closed 77.26 points or 0.09% down at 81,373.75.

Foreign portfolio investors remained net sellers of Indian equities for the second straight session, selling stocks worth Rs 2,589.47 crore, according to NSE provisional data. Domestic institutional investors stayed net buyers for the 10th straight session as they bought equities worth Rs 5,313.76 crore.

Everything That Could Influence Indian Equities Today:

Asian Markets Update

• S&P 500 futures fell 0.22%.

• Hang Seng index futures were up 0.99%.

• Futures for the Nikkei 225 on the Osaka Exchange fell 0.46%.

• Japan’s Topix index fell 0.069%.

• Australia’s S&P/ASX 200 index gained 0.71%.

• Euro Stoxx 50 futures were up 0.26%.

Commodity Check

• West Texas Intermediate crude advanced 0.74% to trade at $62.98 per barrel.

• Spot gold declined by 0.11% to $3,377.97 per ounce.

London Metal Exchange

• Copper rose 1.25%, reversing losses.

• Nickel was up 1.97%, reversing declines.

• Aluminium was up 0.90%, reversing downward trend.

• Zinc gained 2.98%, snapping downward streak.

• Lead rose 1.17%, snapping declines.

US Market Updates

US stocks rose as a rebound in big tech offset earlier declines caused by weak manufacturing, trade tensions, and geopolitical risks. Bonds fell while the dollar dropped to its lowest level since 2023.

Following the S&P 500’s strongest May performance in 35 years, the index inched higher at the start of what is typically one of the quietest months for gains.

Shares of US steel and aluminum companies surged after President Donald Trump pledged to double tariffs on those metals. Wall Street remained focused on developments in the trade war, with the US extending the exclusion of Section 301 tariffs on certain Chinese goods until August 31.

Stocks To Watch

• Maruti Suzuki India: The company’s total production in May increased by 1.4% year-over-year, reaching 1.95 lakh units compared to 1.93 lakh units in the same period last year.

• Adani Enterprises: The company clarified that the Wall Street Journal’s story alleging links between Adani entities and sanctioned Iranian LPG are ‘baseless and mischievous’. The company denied any deliberate engagement in sanctions evasion or trade involving Iranian-origin LPG.

• Man Industries: The board approved a proposal to raise up to Rs 300 crore via preferential allotment.

• Grasim Industries: The company approved raising up to Rs 1,000 crore via NCDs on a private placement basis.

• TVS Supply Chain: The company filed an appeal before the appellate tribunal challenging an order of EPFO regarding the reassessment of dues.

• Reliance Infra: The company pay Rs 92.68 crore to Dhursar solar power towards claim of tariff as per an energy purchase pact.

• United Breweries: The company will close operations at the Mangalore brewery unit.

• UCO Bank: The company appointed Sumit Khandelwal as CFO.

• ISGEC Heavy Engineering: The National Green Tribunal granted permission to resume operations at the Muzaffarnagar unit.

• Frontier Springs: The company received an order worth Rs 92.6 crore from Rail Coach Factory, Kapurthala and Modern Coach Factory, Raebareli.

• Salzer Electronics: The company formed an SPV named Effilume Private for implementing the Rs 192 crore energy efficiency project in Bengaluru on an order secured from the Bruhat Bengaluru Mahanagara Palike in May.

• Jindal Stainless: The company bought 33.64% stake in Oyster Renewable’s 282 MW SPV.

• HCLTech: The company signed a deal with UiPath to accelerate agentic automation for global enterprises and will establish an AI lab with UiPath in India.

• Sarda Energy & Minerals: Chhattisgarh Environment Conservation Board gave its consent to expand production capacity.

• Star Cement: An arm commenced commercial production of AAC blocks at the Assam manufacturing unit.

• Veritas (India): A major fire at the adjacent terminal spread to the office of the company’s subsidiaries at UAE. The fire was brought under control, and there were no casualties. The assessment and impact of fire is under process. It is to further inform that there is an appropriate insurance coverage. Rajaram Shanbhag resigned as CFO.

• Awfis Space Solutions: The company has been sanctioned with a loan facility of Rs 80 crore, which includes an overdraft limit of Rs 30 crore to fund capital expenditures for existing centres, establish new centers, and for reimbursement of eligible expenditures. The company plans to utilise the facility as per future business requirements.

• Britannia Industries: A strike at the Jhagadia plant in Gujarat has been called off.

• Punjab & Sind Bank: The Ministry of Finance extended the tenure of Swarup Kumar Saha as MD and CEO.

New Listing

• Prostarm Info Systems: The company’s shares will debut on the stock exchange on Tuesday at an issue price of Rs 105 apiece. The Rs 168-crore IPO was subscribed 97.2 times on its third and final day. Bids were led by institutional investors (1.93 times), retail investors (6.46 times) and non-institutional investors (20.21 times).

Brokerage Radar

Investec On Varroc Engineering

• Retain ‘buy’ rating with a target price of Rs 715, implying potential upside of 39.7%.

• Earnings before interest, taxes, depreciation and amortisation for the quarter ended March came in 5% ahead of estimates, led by a beat on margins.

• Ebitda margin improved, adjusted for higher sales due to new order wins worth Rs 60.5 billion.

• Execution of new order wins is expected to drive outperformance.

• Target multiple increased to 20 times from 15 times, supported by resolution of the Omnia joint venture dispute, deleveraging of the balance sheet, and a strong order book.

Investec On Yatra Online

• Maintain ‘buy’ rating with a target price of Rs 155, implying upside of 48.9%.

• The corporate business, which now accounts for 65% of gross booking value, is set to further increase.

• Yatra reported a 38% year-on-year increase in corporate bookings in financial year 2025.

• A higher proportion of hotels within the mix supports a high-margin business model.

• The company gave revenue growth guidance of 20% along with 30% growth in earnings before interest, taxes, depreciation and amortisation.

• Estimates a 36% earnings per share compound annual growth rate from the financial years 2025 to 2028.

Citi On Infosys

• Maintain ‘neutral’ rating with a target price of Rs 1,525.

• Infosys expects its margin range for the financial year 2026 to be similar to the current levels, with medium-term margin expansion anticipated.

• Valuations stand at approximately 22 times one-year forward consensus earnings per share.

• Clients are exhibiting caution and a “wait and watch” approach amid economic uncertainties.

• Citi highlights that widespread adoption of artificial intelligence faces challenges such as data readiness, governance, and employee training.

• Despite these challenges, Citi continues to prefer Infosys and HCL Technologies over other large-cap IT companies.

Read all brokerage calls for Tuesday here.

Block Deals

• Niva Bupa Health Insurance: M Pallonji and Co bought 1.35 crore shares (0.74%) at Rs 83.95 apiece.

• AU Small Finance Bank: Leapfrog Rural Inclusion (India) sold 9.01 lakh shares (0.12%) at Rs 693 apiece, while Tata AIG General Insurance bought 9.01 lakh shares (0.12%) at Rs 693 apiece.

Bulk Deals

• Niva Bupa Health Insurance: Krishnan Ramachandran sold 1 crore shares (0.54%) at Rs 82 apiece, while Fettle Tone LLP sold 9.14 crore shares (5%) at Rs 82.11 apiece, DSP Mutual Fund bought 4.96 crore shares (2.71%) at Rs 82 apiece, SBI Mutual Fund bought 1.51 crore shares at Rs 82 apiece.

Insider Trades

• Som Distilleries & Breweries: Promoter Deepak Arora bought 20,000 shares on June 2.

• Kilburn Engineering: Promoter Firstview Trading bought 30,000 shares on May 30.

• Geojit Financial Services: Promoter BNP Paribas sold 6.56 lakh shares between May 28 and 30.

• Star Health and Allied Insurance Company: Promoter Setu Aif Trust bought 12.65 lakh shares on May 27 and 30.

• Aarti Pharmalabs: Promoter Orchid Family Trust sold 20,000 shares, Promoter Tulip Family Trust sold 40,000 shares, Promoter Orchid Family Trust sold 20,000 shares.

• Sai Silks (Kalamandir): Promoter SSKL Family Trust bought 1.5 lakh shares.

Trading Tweaks

• Price Band change from 20% to 10%: Apollo Micro Systems, IFB Agro Industries.

• Price Band change from 5% to 2%: Nagarjuna Fertilizers and Chemicals, Shanti Overseas (India).

• Ex- Dividend: Larsen and Tourbo, Nuvama Wealth Management.

F&O Cues

• Nifty June Futures down by 0.25% to 24,809 at a premium of 93 points.

• Nifty June futures open interest down by 2.66%.

• Nifty Options June 6 Expiry: Maximum Call open interest at 26,000 and Maximum Put open interest at 24,000.

• Securities in ban period: Manappuram Finance.

Currency/Bond Update

• The rupee closed 19 paise stronger at 85.39 against US Dollar.

• The yield on the benchmark 10-year government bond closed two basis points lower at 6.26%

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