Indian equity markets experienced volatility amid renewed global trade concerns and tariff hikes by the U.S. President Donald Trump. On June 2, 2025, the Sensex dropped by approximately 77 points to close at 81,374, while the Nifty 50 index fell by 34 points to 24,717. Earlier in the day, the Sensex tumbled as much as 762 points and the Nifty fell below 24,600, pressured by declines in IT and metal stocks following Trump's decision to double tariffs on steel and aluminum to 50%. Major metal stocks such as JSW Steel and Tata Steel, as well as Hero MotoCorp and Tata Motors, saw share price declines, with Hero MotoCorp down 2% and Tata Motors slipping 1%. The tariff hike contributed to a 2% drop in the Nifty Metal index. Despite the early losses, broader market indices outperformed, with the S&P BSE Mid-Cap and Small-Cap indices rising 0.58% and 0.36%, respectively. Among the top gainers were Adani Ports, Mahindra and Mahindra, Powergrid, Hindustan Unilever Ltd (HUL), and Bajaj Finserv. Central Depository Services Ltd. (CDSL) shares surged nearly 9% on high volumes, marking a 25% increase over the past month. Earlier market activity showed LIC's market capitalization surged by Rs 59,234 crore to Rs 6,03,120 crore, the largest gain among the top 10 firms, while State Bank of India added Rs 19,590 crore to reach Rs 7,25,036 crore. Bharti Airtel and HDFC Bank also saw increases in market valuation, whereas TCS, Bajaj Finance, ICICI Bank, Hindustan Unilever, and Infosys experienced declines. The Indian market's reaction was influenced by weak Asian markets and global cues, with the India VIX volatility index rising by up to 8%. In the U.S., the S&P 500 and NASDAQ opened lower by approximately 0.3%, reflecting broader global market jitters.