Nifty, Sensex open flat amid global uncertainty on fiscal worries in US, Russia-Ukraine tensions

Mumbai (Maharashtra) [India], June 3 (ANI): Indian stock markets opened on a cautious but positive note on Tuesday, tracking mixed global cues amid rising concerns over tariffs, geopolitical tensions, and fiscal worries in the US economy.
The Nifty 50 index opened at 24,786.30, marking a modest gain of 69.70 points or 0.28 per cent. Similarly, the BSE Sensex began the session at 81,492.50, up by 118.75 points or 0.15 per cent.
Market experts noted that global stock markets are facing a cloud of uncertainty due to ongoing tariff tensions, renewed geopolitical concerns such as the Russia-Ukraine situation, and fiscal challenges in the United States. These factors have collectively kept investors on edge and added pressure on global equities.
Ajay Bagga, banking and market expert, told ANI, "Fiscal worries, geopolitical tensions, and tariff uncertainty are the defining trends for global markets. The US stock markets rose on Monday while the US dollar weakened. This morning, Asian stocks are mildly up. Trump is putting pressure on the US Senate to clear his Big Beautiful Bold Tax Bill. Markets and Senators are worried about the fiscal deficit issues it will lead to. Manufacturing PMIs in the US and Europe are pointing to a slowdown. But oil prices rose on geopolitical worries despite the economic overhang."
He added that these factors are making markets very difficult to predict, with policy-related news becoming the main driver.
On the broader NSE indices, Nifty Next 50 also saw a gain of 0.28 per cent, while Nifty Financial Services moved up by 0.22 per cent. The Nifty Midcap index surged by 0.4 per cent and Nifty Small Cap also registered a 0.4 per cent rise, indicating strength in the mid and small-cap segments.
Among the sectoral indices, the Nifty Realty index led the pack with a gain of 0.7 per cent. All other sectors also opened in green.
Nifty Auto rose by 0.3 per cent, Nifty IT gained 0.37 per cent, Nifty Metal moved up 0.22 per cent, and Nifty Pharma surged 0.56 per cent. The market showed broad-based marginal gains across sectors in the opening trade.
VK Vijayakumar, Chief Investment Strategist at Geojit Investments, said, "During a consolidation phase, where the market moves within a range, buy on dips is the ideal strategy. And this strategy is working well now. With a lot of uncertainty in geopolitics, tariffs, and trade, the market will continue to remain volatile. Therefore, investors may persist with the strategy of buying on dips."
In other Asian markets, most indices traded flat in the green, with the exception of Hong Kong's Hang Seng and Taiwan Weighted, which saw strong gains of around 1 per cent each. Japan's Nikkei was nearly flat with a 0.1 per cent gain.
However, South Korea's KOSPI index remained closed due to a holiday, while Singapore's Straits Times Index traded slightly in the red, down 0.1 per cent at the time of this report. (ANI)