Overview

• President Trump’s decision to double steel and aluminium tariffs to 50% from June 4 prompted a 700-plus-point slide in the Sensex and pushed the Nifty below 24,600 on June 3.
• Foreign institutional investors sold a net Rs 2,853.83 crore of Indian equities on Tuesday, while domestic funds purchased Rs 5,907.97 crore.
• Brent and WTI prices softened after OPEC+ upheld modest July output increases and broader geopolitical tensions kept supply risks elevated.
• US equity futures hovered near record highs as markets anticipated Trump–Xi trade talks and turned attention to this week’s RBI policy meeting.
• Analysts caution that Indian markets may remain choppy until the RBI decision clarifies the central bank’s stance on potential rate cuts.