Overview
- Sensex plunged over 700 points intraday on Monday after President Trump announced plans to double steel and aluminium tariffs to 50%, before recovering to close down 77 points while the Nifty fell 34 points
- Brent crude jumped more than 3% to $64.84 a barrel as escalating Russia-Ukraine tensions and trade concerns drove oil prices higher
- Foreign institutional investors sold equities worth Rs 6,449.74 crore on Friday, extending outflows that dampened market sentiment at the start of the week
- Despite solid domestic data led by private consumption and manufacturing, the Nifty remains range-bound with support at 24,500 and resistance near 25,100
- Market attention is fixed on the Reserve Bank of India’s June 6 meeting, where a 25 basis point rate cut is widely expected to bolster credit growth and consumption