Stock Market LIVE: GIFT Nifty hints at higher open; Asia rises; China PMI at 48.3
Stock Market LIVE on Tuesday, June 3, 2025: Benchmark indices Sensex and Nifty may be influenced today by a mix of upbeat global cues, institutional activity, and lingering concerns over US President Donald Trump's tariff plans and US-China trade tensions.
Also Read: Flawed to say domestic flows alone inflate India's valuations: Ridham Desai Global cues
That said, around 6:35 AM, GIFT Nifty futures were trading 54 points higher at 24,880, indicating a higher start.
Asia-Pacific markets edged higher on Tuesday, tracking overnight gains on Wall Street, even as global trade tensions showed signs of worsening.
In a fresh escalation, China rebuffed US accusations of violating a temporary trade agreement, instead placing the blame on Washington for failing to honour its commitments. The exchange suggests a further breakdown in trade negotiations between the world's two largest economies.
Adding to the tensions, the European Union (EU) criticised Trump's plan to double steel tariffs to 50 per cent, warning the move would 'undermine' ongoing talks between Brussels and Washington. An EU spokesperson said the bloc was 'prepared to impose countermeasures' in response.
Last checked, Nikkei was up 0.43 per cent, while Topix and Kospi were flat with a positive bias.
AX200 was up 0.67 per cent. Meanwhile, Australia recorded a Current Account Deficit (CAD) of 14.7 billion Australian dollars in the first quarter of 2025. In China, the Caixin Manufacturing PMI for May dropped to 48.30, from 50.40 in April of 2025.
South Korean markets were closed for polling day.
On Monday, the S&P 500 rose 0.41 per cent, the Nasdaq Composite climbed 0.67 per cent, and the Dow Jones added 0.08 per cent.
FII, DII
Also Read: Foreign brokerages stay cautious on India stock market; check strategy here
On the institutional activity front, foreign institutional investors (FIIs) net sold shares worth ₹2,589.47 crore. Similarly, domestic institutional investors (DIIs) bought shares worth ₹5,313.76 crore on June 2.
IPO today
Nikita Papers IPO (SME), Prostarm Info IPO (SME), Blue Water IPO (SME), and Astonea Labs IPO (SME) will list on the bourses, while 3B Films IPO (SME) will see its last day of subscription.
Commodity corner
Gold prices jumped more than 2 per cent on Monday, reaching their highest level in over three weeks, as a weaker US dollar combined with rising geopolitical tensions and economic uncertainty spurred demand for safe-haven assets.
Spot gold climbed 2.5 per cent to $3,372.13 an ounce, after hitting its highest mark since May 8 earlier in the day. US gold futures also gained 2.5 per cent, settling at $3,397.20 an ounce.
Crude oil prices advanced sharply Monday, with US futures climbing nearly 3 per cent after OPEC+ reaffirmed its commitment to a steady production increase, easing concerns of a larger-than-expected supply boost.
WTI crude rose 2.85 per cent, to settle at $62.52 a barrel, while global benchmark Brent crude gained 2.95 per cent, to close at $64.63.
Supporting prices further, the US rig count continued to decline throughout May, falling to its lowest level since 2021.
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