Indian Market Plunges on Global Uncertainty; Yes Bank Shares Slump 10%
Key Takeaways
- Sensex fell 634-740.51 points, Nifty declined 174-188.10 points amid global trade tensions. (2025-06-03)
- Yes Bank shares slumped 10.31% after SMBC stake acquisition clarification. (2025-06-03)
- BAT offloaded 2.5% stake in ITC for ₹12,900 crore to support buyback. (2025-06-03)
- Citigroup acquired Ola Electric shares for ₹435 crore, shares dropped 8%. (2025-06-03)
- FIIs offloaded ₹2,589 crore in Indian shares; DIIs bought ₹5,313.76 crore. (2025-06-02)
Top Stories
Indian market closes lower amid global uncertainties: Sensex, Nifty fall.
On 2025-06-03, the Indian market closed lower, with the BSE Sensex falling 634-740.51 points and the NSE Nifty declining 174-188.10 points due to weakness in IT, financials, and rate-sensitive stocks, amid global trade tensions and U.S. fiscal risks. Benchmark indices Sensex and Nifty50 closed lower, weighed down by losses in IT and financials.
Yes Bank shares slump 10.31% after SMBC stake clarification.
On 2025-06-03, Yes Bank shares slumped 10.31 per cent to ₹20.88, hitting a low of ₹20.71, after issuing a clarification pertaining to a report about Sumitomo Mitsui Banking Corporation (SMBC) stake acquisition. The bank stated it is not privy to discussions related to the matters in the article.
BAT offloads 2.5% stake in ITC for ₹12,900 crore.
On 2025-06-03, it was reported that British American Tobacco (BAT) offloaded a 2.5% stake in ITC for approximately Rs 12,900 crore via block deals, reducing its holding from 25.4% to 22.9%. BAT will use the proceeds to support its £1.1 billion share buyback programme for 2025.
Citigroup acquires Ola Electric shares for ₹435 crore.
On 2025-06-03, Citigroup acquired over 8.61 crore shares in Ola Electric for Rs 435 crore via a block deal, with Hyundai Motor Company and KIA Corporation as sellers. The block deal led to an 8% drop in Ola Electric's share price, closing at Rs 49.33, due to disappointing quarterly results, including a net loss of Rs 870 crore for the quarter ended March 2025 and a decline in revenue from operations to Rs 611 crore.
FIIs offload ₹2,589 crore in Indian shares.
On 2025-06-03, it was reported that on 2025-06-02, Foreign institutional investors (FII) offloaded Indian shares for the second straight session, selling shares worth Rs 2,589 crore ($303 million). Domestic institutional investors (DIIs) remained net buyers for the tenth consecutive session, purchasing shares worth Rs 5,313.76 crore.
Market Movers
Sensex and Nifty open lower amid global trade tensions.
On 2025-06-03, Indian benchmark indices Sensex and Nifty opened lower due to global trade tensions, offsetting optimism about a possible rate cut by the Reserve Bank of India (RBI). At around 9:32 am, the BSE Sensex was down 331 points, or 0.41%, at 81,042, while the Nifty50 slipped 42 points, or 0.16%, to trade at 24,685.
Adani Group stocks trade negatively after Iranian LPG report denial.
On 2025-06-03, it was reported that Adani Group stocks traded negatively after denying a Wall Street Journal report from 2025-06-02, which stated that US prosecutors are investigating the group for alleged links with Iranian LPG imports into India through Mundra port. Adani Ports fell 2.6% following the report.
Ola Electric tumbles 7% following a large block deal.
On 2025-06-03, Ola Electric tumbled 7 per cent following a large block deal. Shares of Ola Electric Mobility shares also ended lower after a large block deal.
RBI policy decision looms; bank and financial indices fall.
On 2025-06-03, it was reported that Nifty Bank and Financial indices fell 0.15%, while other rate-sensitive sectors such as Auto, Realty, and Consumer rose up to 0.25%, ahead of the Reserve Bank of India's (RBI) policy decision on Friday, 2025-06-06, as markets anticipate a 25-basis-point rate cut.
ITC shares: Down 8% YTD, up 62% over three years.
On 2025-06-03, it was reported that ITC shares are down 8% year-to-date but have gained 62% over the past three years. The company’s current market capitalisation stands at Rs 5,24,779 crore.
Kotak: Indian markets range-bound due to expensive valuations.
On 2025-06-03, Kotak Institutional Equities reported that Indian equity markets may remain range-bound due to expensive valuations and a lack of strong earnings triggers. They noted a marginal beat in Nifty 50 net profit, sluggish domestic outlook, and insiders selling holdings.
Block deals worth ₹804 crore in Aptus Value Housing.
On June 3, 2025, block deals worth Rs 804 crore occurred in Aptus Value Housing Finance in India. Buyers included Morgan Stanley (acquiring nearly 30 lakh shares for Rs 92 crore), East Bridge Capital (acquiring over 42 lakh shares for Rs 129 crore), SBI Mutual Fund (acquiring 70.66 lakh shares for Rs 217 crore), Axis Mutual Fund (acquiring 25 lakh shares for Rs 77 crore), and iRage Broking (acquiring 93.95 lakh shares for Rs 289 crore).
Peak XV trims stake in Zinka Logistics for ₹302 crore.
Peak XV trimmed its stake in Zinka Logistics in a Rs 302 crore bulk deal. Buyers included ADIA and MIT. The publish date is 2025-06-03.
ONGC shares close down around Rs 237.
On 2025-06-03, ONGC's shares closed down at Rs 237.27. ONGC's share price experienced a decrease, with the price fluctuating around Rs 237.
YES Bank, Vodafone Idea among top volume gainers.
On 2025-06-03, YES Bank, Vodafone Idea, Ola Electric Mobility Ltd., Reliance Power, Suzlon Energy, Godha Cabcon & Insul, Eternal, Aptus Value Housing, Trident Ltd, and GTL Infra emerged as top gainers in terms of trading volume.
Adani Ports, Bajaj Finserv among top Nifty losers.
On 2025-06-03, Adani Ports& Special Economic Zone Ltd., Adani Enterprises Ltd., Bajaj Finserv Ltd., Coal India Ltd. and Power Grid Corporation of India Ltd. were among the top losers of the day. In the Nifty index, Grasim Industries Ltd., Shriram Finance Ltd., Mahindra & Mahindra Ltd., Bajaj Auto Ltd., and Cipla Ltd. were among the top gainers, while Adani Ports & Special Economic Zone Ltd., Adani Enterprises Ltd., Bajaj Finserv Ltd., Coal India Ltd., and Power Grid Corporation of India Ltd. were among the top losers.
YES Bank, Aptus Value Housing among most traded on NSE.
On 2025-06-03, YES Bank, Aptus Value Housing, BSE, HDFC Bank, Eternal, CDSL, Cochin Shipyard, FACT, ICICI Bank, and RIL were among the most traded securities on the National Stock Exchange.
Nifty 50 losers: Coal India, Bajaj Finserv, Adani Ports decline.
On 2025-06-03, Coal India, Bajaj Finserv and Adani Ports stock declined close to 2 per cent. Apollo Hospitals also dropped 1.50 per cent and NTPC by 1.35 per cent.
Market watchers see strong institutional interest in ITC.
On 2025-06-03, it was reported that market watchers believe institutional interest in ITC remains strong, even as legacy shareholders like BAT unlock value. Analysts suggest this increased participation could enhance liquidity and strengthen ITC’s positioning among global funds.
Prostarm Info Systems shares close positive after premium listing.
On June 3, 2025, Prostarm Info Systems shares ended at ₹126 after premium listing and later traded at ₹123. Shares of Prostarm Info Systems Ltd closed positive after a strong debut, listing at ₹125 on the BSE and closing at ₹126.25.
Capital Infra Trust hits 52-week low amid market decline.
On 2025-06-03, Capital Infra Trust, ABM International, Osia Hyper Retail, Sakuma Exports and Noida Toll Bridge Co, among others, hit their 52-week lows on the NSE. The NSE Nifty fell 79.4 points to 24637.2, and the BSE Sensex traded 285.3 points down at 81088.45.
Coal India Ltd, Bajaj Finance among top losers on NSE.
On 2025-06-03, Coal India Ltd, Bajaj Finance, Apollo Hospital, L&T and SBI Life were among the top losers on NSE.
SBI Securities highlights consistent dividend payouts.
On 2025-06-03, SBI Securities data highlighted companies with consistent dividend payouts over the past three years (FY22, FY23, and FY24). Dividend yields were calculated using closing prices as of 2025-05-30.
Dividend yields reported for Shri Dinesh Mills, IOC, others.
On 2025-06-03, dividend yields were reported for multiple companies based on SBI Securities data. These included Shri Dinesh Mills (FY24: 9.1%), Indian Oil Corporation (FY24: 8.5%), Chennai Petroleum Corporation (FY24: 8.1%), IL&FS Investment (FY24: 7.4%), Oriental Carbon & Chemicals (FY24: 7.0%), Vedanta (FY24: 6.8%), Coal India (FY24: 6.4%), Castrol India (FY24: 6.0%), and PTL Enterprises (FY24: 5.3%).
JSW Steel closes at Rs 973.8 with minor dip.
On 2025-06-03, JSW Steel wrapped up the trading day at a price of Rs 973.8, with a minor dip of 0.52%. JSW Steel's share price experienced a decrease, with the price fluctuating around Rs 973-977.
HDFC Bank shares slightly down, trading around Rs 1924-1930.
On 2025-06-03, HDFC Bank's shares were valued at Rs 1924.60, a slight decrease of 0.39%. HDFC Bank was trading at Rs 1930.5, a marginal decline of 0.09%, with a 5-day simple moving average of Rs 1930.54.
Sector Spotlight
Q4FY25: Private banks' net profit declines 6% YoY.
In Q4FY25, India’s banking sector showed mixed performance; private banks' net profit declined by 6% YoY. ICICI Bank's PAT grew by 18% YoY, and NII climbed by 11%, while HDFC Bank’s bottom line increased by 7% YoY, and NII saw a 10% uptick. Axis Bank, SBI, and Kotak Bank reported a fall in PAT between 0.17% and 14%.
Q4FY25: Dhanlaxmi Bank leads with 776% YoY PAT rise.
In Q4FY25, Dhanlaxmi Bank led with a 776% YoY rise in PAT, Bandhan Bank reported 482% PAT growth, PSB, BoI, and PNB delivered strong earnings growth, and AU Small Finance Bank stood out with a 36% PAT rise and a robust 57% NII growth.
Realty sector surges; Sobha, Brigade, Prestige, Phoenix Mills gain.
On 2025-06-03, shares of Sobha, Brigade Enterprises, Prestige Estates and Phoenix Mills closed higher between 2-6% amid a surge in the realty sector.
BNP Paribas expects concurrent earnings growth for banks in FY26.
Brokerage BNP Paribas India expects reasonable credit growth to translate into concurrent earnings growth momentum for banks in FY26. Rakesh Vyas sees RBI's measures to enhance system liquidity to support continued credit growth in FY26, and the banking sector is likely to achieve double-digit earnings growth in FY26.
Analyst Insights
Trendlyne: ITC target price Rs 501, 'Strong Buy' rating.
On 2025-06-03, it was reported that according to Trendlyne, the average target price for ITC is Rs 501, implying a potential upside of nearly 19% from current levels. Among the 37 analysts tracking the stock, the consensus rating is ‘Strong Buy’.
Wright Research: Cautiously optimistic, focus on industrials, consumption.
On 2025-06-03, Sonam Srivastava of Wright Research shared a cautiously optimistic market outlook, noting strength in small and mid-cap stocks and recommending a focus on industrials, capital goods, and consumption sectors. She advised investors to gradually build positions in high-quality stocks, diversify, and consider a core-satellite approach, highlighting sectors with strong domestic drivers and naming L&T, BEL, HAL, Coromandel, Avanti Feeds, ICICI Bank and Kotak Mahindra Bank as strong stock picks.
Geojit Investments suggests 'buy on dips' amid market volatility.
On 2025-06-03, Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments, suggested a "buy on dips" strategy due to market volatility from geopolitical and trade uncertainties, anticipating the MPC to cut the policy rate by 25 bp on 2025-06-08. Devarsh Vakil, Head of Prime Research, HDFC Securities, noted short-term resistance for Nifty near 24900, with crucial support at yesterday’s low of 24526.
Mirae Asset Sharekhan suggests buying Hudco, Indian Hotels.
On 2025-06-03, Mirae Asset Sharekhan suggested buying Hudco, trading between Rs 246 and Rs 250, with a target of Rs 280, and Indian Hotels, priced between Rs 780 and Rs 790, targeting Rs 835.
Motilal Oswal initiates 'buy' on Go Fashion, 31% upside.
On 2025-06-03, Motilal Oswal initiated coverage on Go Fashion with a ‘buy’ rating and set a target price of ₹1,127, indicating a 31% upside potential. Motilal Oswal referred to Go Fashion, the company behind the ‘Go Colors’ brand, as a trailblazer and market leader in the women’s bottom wear segment, commanding an 8% share of the organized market.
HDFC Securities: High Wave pattern indicates market volatility.
Nagaraj Shetti, Technical Research Analyst at HDFC Securities, believes the pattern on 2025-06-02 could be considered as a High Wave, which reflects high volatility in the market at swing highs, according to a report published on 2025-06-03.
Company Beat
Vodafone Idea seeks solution to AGR issue with government.
On 2025-06-03, Vodafone Idea (VIL) said it is engaged with the Centre to find a solution to the AGR issue, with CEO Akshaya Moondra stating he sees no reason why the government should be constrained in any way to offer relief.
HCL Tech partners with UiPath for Agentic Automation.
On 2025-06-03, HCL Tech announced a strategic partnership with UiPath to accelerate Agentic Automation for global enterprises.
Frontier Springs bags ₹93 crore order from Rail coach factories.
On 2025-06-03, Frontier Springs bagged an order worth Rs 93 crore from Rail coach factory, Kapurthala and Modern coach factory, Raebareli.
Ola Electric's FY24 net loss: ₹2,276 crore.
In FY24, Ola Electric posted a net loss of Rs 2,276 crore, with operating revenue declining to Rs 4,514 crore.
IPO Buzz
Sebi approves IPOs for HDB Financial, Vikram Solar, others.
On 2025-06-03, it was published that six companies, including HDB Financial Services and Vikram Solar, have received approval from Sebi to raise funds through IPOs. HDB Financial Services plans to raise funds through a fresh issue and offer-for-sale, while Vikram Solar's IPO includes a fresh issue and an offer-for-sale by promoters.
Nikita Papers lists at 14% discount on NSE SME exchange.
On June 3, 2025, Nikita Papers' shares listed on the NSE SME exchange at Rs 90, a 14% discount from the IPO price of Rs 104. The IPO featured 64.94 lakh fresh shares and saw lukewarm demand.
Rupee Watch
Indian rupee falls 16 paise to 85.55 against US dollar.
On 2025-06-03, the Indian rupee fell 16 paise to 85.55 against the US dollar in early trade. The dollar index rose 0.21% to 98.91 level.
Top Performers
Nifty 50 gainers: Grasim Industries leads with 1.29% increase.
On 2025-06-03, Grasim Industries led the gainers of Nifty 50 with a 1.29 per cent increase to ₹2,556.60. Mahindra & Mahindra, Shriram Finance, Bajaj Auto and Reliance Industries also saw gains.
Deepak Fertilisers hits fresh 52-week high.
On 2025-06-03, Deepak Fertilisers, AXISCADES Engg Tech, Authum Investment, Radico Khaitan and Shree Vasu Logistics stocks hit their fresh 52-week highs.
Eternal, M&M, Hindalco among top gainers on NSE.
On 2025-06-03, Eternal, M&M, Hindalco, HDFC Bank and Shriram Finance were among the top gainers on the NSE in the Nifty 50 index.