NewsMarketsMarket Wrap: Nifty and Sensex Tumble as Yes Bank and Ola Electric Face Selling PressureMarket Wrap: Nifty and Sensex Tumble as Yes Bank and Ola Electric Face Selling Pressure
By ScanX News Team
Indian stock markets closed lower on Tuesday, with Nifty 50 down 0.70% at 24,542.50 and Sensex falling 0.78% to 80,737.51. Engineering Services and Aerospace & Defense sectors showed resilience, while Printing & Stationery suffered the most. Yes Bank plummeted 10.01% amid stake sale news, and Ola Electric dropped 7.58% following a block deal. Market breadth was negative with 2,441 declining stocks versus 1,923 advancing.
*this image is generated using AI for illustrative purposes only.
Market Overview
The Indian stock markets closed in the red on Tuesday, June 3, 2025, with both benchmark indices facing significant selling pressure. The Nifty 50 ended the day at 24,542.50, down 174.10 points or 0.70% from its previous close. Similarly, the BSE Sensex closed at 80,737.51, shedding 636.24 points or 0.78%.
Sectoral Performance
The market witnessed a mixed bag of sectoral performances, with some sectors showing resilience amidst the overall bearish sentiment.
Top Performing Sectors
| Sector | Average % Change |
|---|---|
| Engineering Services | 1.68% |
| Aerospace & Defense | 1.66% |
| Trading | 0.79% |
| Aviation | 0.78% |
Top Losing Sectors
| Sector | Average % Change |
|---|---|
| Printing & Stationery | -4.88% |
| Cables | -2.70% |
| Castings, Forgings & Fasteners | -2.18% |
Buzzing Stocks
Yes Bank Ltd
Yes Bank shares plummeted by 10.01% to close at ₹20.95. The steep decline came on the back of multiple large trades involving 3% of equity. The bank's board is set to consider fundraising options, while State Bank of India plans to reduce its board representation and sell its 13.19% stake as part of Sumitomo Mitsui Banking Corp 's acquisition of a 20% stake in Yes Bank .
Ola Electric Mobility Ltd
Ola Electric 's stock price fell by 7.58% to end at ₹49.61. The decline followed reports of a significant block deal where approximately 14.22 crore shares, representing 3.23% equity, were traded at ₹51.4 per share. Hyundai Motor Company is reportedly selling a portion of its stake in the company. This comes after the government's announcement of new guidelines for the Electric Vehicle Manufacturing Scheme, which had initially boosted the stock on the previous day.
Market Breadth
The overall market breadth was negative, indicating a bearish sentiment among investors.
| Category | Number of Scrips |
|---|---|
| Total | 4,364 |
| Positive | 1,923 |
| Negative | 2,441 |
Conclusion
In summary, the Indian stock markets faced downward pressure on June 3, 2025, with key indices Nifty 50 and BSE Sensex closing lower. While sectors like Engineering Services and Aerospace & Defense showed some resilience, the overall market sentiment remained bearish. Notable stocks like Yes Bank and Ola Electric faced significant selling pressure due to various corporate developments and market dynamics.
