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The Hindu
Stock markets tumble in early trade; Sensex tanks 700 points
Indian benchmark indices opened sharply lower in early trade on June 3, 2026, as global energy prices rose and geopolitical tensions surfaced. The Sensex slid 699.74 points to 73,959.48, while the Nifty dropped 177.40 points to 23,302.50, with IT stocks among the laggards as profit-taking followed recent gains. Brent crude hovered near $97 per barrel, underscoring an energy shock that continues to weigh on sentiment. Foreign institutional investors reportedly offloaded over ₹8,000 crore the previous day, reinforcing a cautious mood. Analysts cautioned that mixed macro signals—rising oil, uncertain US–Iran negotiations, and tariff discussions—added to risk-off dynamics. In regional markets, the S&P 500 closed at a record, Japan’s Nikkei rose to lifetime highs, and Korea/Taiwan semis remained buoyant, illustrating divergent regional drivers. The day’s headlines highlight the interplay between commodity prices, geopolitics, and capital flows shaping early trading in Indian equities.
MonitorConfidence: MediumShort term horizonGeopolitical risk: High
Published 3 Jun 2026, 05:35 UTC3 min read
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Summary
TL;DR
- Sensex down 699.74 points to 73,959.48 in early trade
- Nifty falls 177.40 points to 23,302.50
- TCS, Infosys, Tech Mahindra among top laggards
- Brent crude near $97 per barrel
- FIIs offloaded ₹8,362.92 crore
- USTR proposes 12.5% duties on 54 countries over forced labour
- S&P 500 closes at a record; Nikkei hits lifetime highs
Interesting facts
- Bull run in semiconductor leaders South Korea and Taiwan persists amid earnings optimism
- Asian markets show mixed movements: Nikkei up, Hang Seng down