The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open lower on June 2, tracking weak sentiment in global markets amid cautiousness over US-Iran peace talks uncertainty, according to livemint.com. The Gift Nifty futures were trading around 23,262, nearly 200 points below the previous close, indicating a gap-down start for the Nifty 50 index.
The decline follows a strong bearish candlestick pattern on the daily timeframe for the Nifty 50, with sellers maintaining control throughout the session, as reported by livemint.com. The cautious global environment, particularly the unresolved US-Iran conflict, has contributed to the subdued market sentiment. This has led investors to adopt a cautious stance ahead of the market open on Tuesday.
June has historically been a positive month for the Nifty 50, with the index ending higher in six of the last ten years and generating gains over 3% in the past three years, according to livemint.com. However, the current geopolitical tensions and macroeconomic factors, including a 19% monthly decline in crude oil prices, have created a different backdrop for the market. The uncertainty surrounding the US-Iran peace talks adds to the volatility, impacting investor confidence.
The Nifty 50's earnings per share for FY26 ended at ₹1,065, up 5% year-on-year, marking a second consecutive year of single-digit growth, livemint.com reported. Five companies—Bharti Airtel, JSW Steel, HDFC Bank, Infosys, and Tata Consultancy Services—accounted for 75% of the incremental year-on-year earnings growth, underscoring the concentrated nature of recent market gains.