Sensex Opens On A Cautious Note Amid RBI’s MPC Outcome, Global Cues, Nifty Holds Above 24,700

Stock Market Today: The domestic equity benchmark indices started on a subdued note, as investors awaited the outcome of the Reserve Bank of India (RBI’s) monetary policy committee’s (MPC) meeting, and in the backdrop of other global and domestic cues.

At 9:45 AM, the Sensex was lower by 196.55 points, or 0.24 per cent, at 81,245.49. Likewise, the Nifty 50 was down by 46.75 points, or 0.19 per cent, at 24,704.15.

In broader market, the Nifty Midcap 100 and Nifty Smallcap 100 traded slightly above in the green, while NSE 500, which represents about 92.30 per cent of the overall free float market cap of all the NSE-listed stocks, quoted in the red, down by 0.12 per cent.

On the sectoral front, Nifty IT, Nifty Auto, Nifty Pharma, Nifty Media, Nifty Private Bank, Nifty Healthcare, and Nifty Consumer Durables traded in the red. Rate sensitive sectoral indices, such as Nifty Realty, Nifty PSU Bank and Nifty FMCG quoted in the green in early trade. However, Nifty Bank and Nifty Financial Services were in the red.

The MPC later announced a reduction in the repo by 50 basis points (bps).

Sensex, Nifty: Top Gainers & Losers

From Nifty 50, Coal India, Dr Reddy’s Lab, IndusInd Bank, JSW Steel, Eternal, Tata Steel, NTPC were the top gainers, while Tata Motors, Trent, Bharat Electronics, Apollo Hospitals, Eicher Motors, HDFC Life Insurance, and ICICI Bank were the top drags.

Among Sensex's 30 stocks, IndusInd Bank, Eternal, Tata Steel, NTPC, Adani Ports, Hindustan Unilever, and PowerGrid were the biggest gainers, while Tata Motors, ICICI Bank, Bajaj Finserv, Infosys, Sun Pharma, Bharti Airtel and Axis Bank dragged the index the most.

US Market Ends Lower Amid Trump-Musk Spat, Asian Markets Trade Mixed

The US stock market key indices ended lower on June 5, 2025 amid the public spat between President Donald Trump and Tesla CEO Elon Musk. Tesla shares ended lower by 14.26 per cent, dragging the indices lower. Musk has recently increased his criticism of Trump’s major tax plan. Meanwhile, Trump claimed that Musk is upset because the Bill removes some tax breaks for buying electric vehicles.

However, news of progress in tariff negotiations between Trump and Chinese President Xi Jinping helped limit the downside, offering some relief to investors concerned about the rising trade tensions.

The Dow Jones Industrial Average slipped 108 points, or 0.25 per cent, to close at 42,319. The S&P 500 lost 31.51 points, or 0.53 per cent, ending the session at 5,939.30, while the tech-heavy Nasdaq Composite fell 162.04 points, or 0.83 per cent, to settle at 19,298.45.

Asian markets traded mixed in early trade on June 6, tracking the weakness in the US market. Investors also awaited US jobs data that may help identify the path ahead for Federal Reserve cuts.

The Hong Kong-based Hang Seng was lower by 0.21 per cent, while China’s SSE Composite remained unchanged, though slightly in the red. However, Japan’s Nikkei 225 and South Korea's Kospi were up by nearly 0.40 per cent and 1.50 per cent, respectively.