Market trades marginally lower; financial services shares extend losses for fifth straight day
(11:37, 02 Jun 2026)
Domestic equity benchmarks traded slightly lower in mid-morning trade, with the Nifty slipping below the 23,350 mark. Financial services stocks extended their decline for a fifth consecutive trading session, weighing on overall market sentiment.

At 11:30 IST, the barometer index, the S&P BSE Sensex, slipped 73.42 points or 0.10% to 74,193.93. The Nifty 50 index lost 41.20 points or 0.18% to 23,336.75.

In the broader market, the BSE 150 MidCap Index fell 0.34% and the BSE 250 SmallCap Index shed 0.27%.

The market breadth was negative. On the BSE, 1,815 shares rose and 2,017 shares fell. A total of 221 shares were unchanged.

Buzzing Index:

The Nifty Financial Services index dropped 1.17% to 24,716.40. The index tanked 5.30% in five consecutive trading sessions.

SBI Cards & Payment Services (down 3.08%), BSE (down 2.6%), Bajaj Finserv (down 2.44%), Bajaj Finance (down 2.39%), Max Financial Services (down 2.17%), Cholamandalam Investment & Finance Company (down 2.14%), Power Finance Corporation (down 2.05%), REC (down 1.99%), Muthoot Finance (down 1.92%) and Shriram Finance (down 1.88%) declined.

On the other hand, HDFC Bank (up 0.11%) and Kotak Mahindra Bank (up 0.11%) edged higher.

Stocks in Spotlight:

Hero MotoCorp rose 0.62%. The company reported dispatches of 570,068 units in May 2026, registering a 12.28% year-on-year (YoY) increase compared with 507,701 units in May 2025.

Acme Solar Holding jumped 7.79% after the company's board approved the opening of the issue of qualified institutional placement (QIP) of equity shares with a floor price of Rs 294.13 per share

Dee Development Engineers gained 4.74% after the company said that it has secured contracts aggregating to Rs 206.55 crore from a public sector Maharatna EPC conglomerate of power sector.

Global Markets:

Asian markets traded largely lower on Tuesday, as investors weighed renewed uncertainty over U.S.-Iran peace negotiations.

U.S. President Donald Trump on Monday shrugged off the possibility that peace talks with Iran could fall apart, reportedly telling the media, I don't care if they're over, honestly.'

Trump was responding to a question about reports earlier Monday that Iranian negotiators were considering ending discussions with Washington and moving to 'completely block' the Strait of Hormuz in response to Israel's military campaign in Lebanon targeting the Iran-backed Hezbollah group.

When asked whether Iranian officials had informed him that they would no longer continue negotiations, Trump replied, No, they haven't.

Overnight on Wall Street, the S&P 500 rose even as oil prices advanced, with Nvidia leading technology higher following the launch of a new chip for PCs.

The broad market index advanced 0.26% to close at 7,599.96, while the Nasdaq Composite gained 0.42% to close at 27,086.81. The Dow Jones Industrial Average added 46.42 points, or 0.09%, and ended at 51,078.88. All three indexes reached new all-time intraday highs and closed at records.

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