At 09:25 IST, the barometer index, the S&P BSE Sensex, declined 187.96 points or 0.23% to 81,185.79. The Nifty 50 index fell 53.50 points or 0.24% to 24,657.55.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.25% and the S&P BSE Small-Cap index added 0.53%.

The market breadth was strong. On the BSE, 2,019 shares rose and 993 shares fell. A total of 156 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth 2,589.47 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 5,313.76 crore in the Indian equity market on 2 June 2025, provisional data showed.

Numbers to Track:

The yield on India's 10-year benchmark federal paper remained unchanged at 6.223

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 85.5250, compared with its close of 85.3950 during the previous trading session.

MCX Gold futures for 5 August 2025 settlement shed 0.23% to Rs 97,724.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.22% to 98.90.

The United States 10-year bond yield fell 0.31% to 4.434.

In the commodities market, Brent crude for August 2025 settlement rose 32 cents or 0.50% to $64.95 a barrel.

Stocks in Spotlight:

Maruti Suzuki India shed 0.40%. The company's total production in May increased by 1.4% to 1.95 lakh units compared with 1.93 lakh units in the same period last year.

Man Industries (India) declined 1.66%. The company announced that its board has approved a proposal to raise up to Rs 300 crore through preferential allotment of convertible warrants and equity shares to promoter group entity and non-promoters respectively.

Grasim Industries rose 0.05%. The company's finance committee of the board of directors has approved raising of non-convertible debentures (NCDs) of upto Rs 1,000 crore on a private placement basis.

Global Markets:

US Dow Jones futures were down 151 points, signaling a weak start for Wall Street.

Most Asian stocks advanced on Tuesday, tracking overnight gains across all three major U.S. stock indices, despite ongoing global trade tensions. South Korean markets remained closed due to polling day.

China responded to U.S. allegations of violating a temporary trade agreement, stating that the United States had failed to uphold its side of the deal. The exchange highlights increasing strain in trade negotiations between the two countries.

Separately, the European Union criticized U.S. President Donald Trump's proposal to raise steel tariffs to 50%, arguing that the move could disrupt ongoing EU-U.S. trade discussions. An EU spokesperson reportedly indicated that the bloc is prepared to implement countermeasures if necessary.

China's Caixin/S&P Global manufacturing purchasing managers' index (PMI) declined to 48.3 in May from 50.4 in April, marking its first drop below the 50-point threshold, indicating contraction, since September of the previous year.

In the U.S., stock indices closed higher on Monday, supported by gains in technology stocks and a surge in the energy sector following a rise in oil prices. Domestic steel and aluminum stocks also climbed on expectations of benefits from potential tariff increases. The S&P 500 rose 0.41%, the Nasdaq Composite gained 0.67%, and the Dow Jones Industrial Average edged up 0.08%.

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