Indian Stock Markets Fall: Sensex tanks on US-Iran Tensions, Crude Oil, FII Outflows - Rediff.com Business

• India has fallen to seventh place in global market capitalization rankings after being surpassed by South Korea. • The shift is driven by a surge in South Korean chipmakers like Samsung Electronics and SK Hynix, with the KOSPI rising 107% and Taiwan's SE Weighted index advancing 59%.

• The European Central Bank (ECB) reports that the euro's international usage has reached 20%, reflecting a steady increase in its global footprint. • Despite this growth, the U.S. dollar remains the dominant global currency, with dollar-denominated assets still accounting for 42% of global reserves.

• India has emerged as a global wealth powerhouse, with liquid financial assets now estimated at more than $2.7 trillion. • This capital is being strategically deployed by a diverse range of investors, including digital investors and family offices, across equity markets and private enterprises.

• BP is exploring the sale of a portion of its UK North Sea assets as part of a broader strategic portfolio restructuring. • The company aims to accelerate this process to reduce its overall debt and sharpen its focus on core oil and gas activities.

• Marvell Technology shares surged 32%, marking the company's best single-day stock performance to date. • The rally follows a prediction by Nvidia CEO Jensen Huang, who suggested Marvell has the potential to become the next trillion-dollar company.

• Japan's Nikkei index reached a record high as Asia-Pacific markets generally opened higher, despite ongoing volatility in oil prices and the closure of the Strait of Hormuz. • Australia's S&P/ASX 200 rose 0.36% following a report that GDP grew 2.5% year-on-year for the first quarter, slightly missing the 2.6% forecast by economists.

• US stock markets have reached record highs in 2026, driven primarily by continued optimism surrounding artificial intelligence technologies. • South Korea has surpassed India to become the world's sixth-largest stock market, fueled by the market capitalization of semiconductor giants Samsung Electronics and SK Hynix.

• The BSE SENSEX dropped over 400 points and the NIFTY50 opened at 23,229 as Indian equity markets experienced a gap down opening. • The decline was driven by cautious investor sentiment resulting from mixed global market cues and negative indicators from Nifty futures.

• Asian stocks opened with cautious trading on Tuesday, June 2, as geopolitical anxiety in the Middle East offset positive sentiment surrounding artificial intelligence. • Market volatility was evident in the MSCI Asia-Pacific index (excluding Japan), which fluctuated between gains and losses and initially dipped 0.5%.

• Indian benchmark indices, the Sensex and Nifty, declined on Monday with the Sensex dropping over 500 points and the Nifty falling 0.7%. • The downturn was driven by rising crude oil prices, geopolitical tensions in West Asia, and uncertainty surrounding Iran-US relations, despite strong performance from IT stocks like Infosys and TCS.

• Indian benchmark indices closed higher following a volatile session, with the Sensex gaining 382 points and the Nifty closing above 23,480. • Market sentiment was primarily lifted by late buying in heavyweight IT stocks, though investors remain cautious.