US President Donald Trump announced on Tuesday a 10-percentage-point reduction in tariffs on a range of agricultural and industrial equipment, lowering duties from 25% to 15% until next year-end. Under the changes, tariffs on agricultural machinery such as combines, harvesters and other farm equipment will fall to 15% from the current 25%. The Republican administration said the reduction is intended to ease costs for producers while supporting investment in America’s agricultural sector.
US cuts tariffs on Agri and Farm equipments from 25% to 15% – Daily Market Update 2nd June 2026
Overview and Outlook
Global Stock Market Today
- US equity markets settled on a flat to positive note.
- European equity markets ended lower in range 0.4% to 0.68%.
- Asian equity markets are trading mix.
- GIFT Nifty is down by 150 points, Nifty futures is likely to open around 23280 levels.
The benchmark Nifty index ended lower at 23383 spot levels after a cut of 165 points from its previous closing values.
Performance on the broader front was mix. Small cap index fell in line with the benchmark, down 0.88%. On the other hand, Mid cap index underperformed the benchmark, down 1.45%.
Majority of sectoral indices, tracked at NSE, ended in red. Among them, FMCG index was the worst performer, down 2.30% followed by Auto, PSU Banks and Realty index down in range 1.5% to 2% each. On the flip side, Nifty IT was the top performer, rose 2.66% followed by Media that gained 1.37%.
Technically, Nifty index is gradually drifting toward the lower band of its consolidation zone having immediate support at 23250–23000 and resistance at 24000–24200 spot zone. Going forward, we expect the index to find a halt near the lower band of this congestion zone (23250–23000). Consequently, we advise traders to maintain a “sell on rise” trading approach as long as the index trades below 23750 on a closing basis. A decisive break on either side of this range will trigger the next short-term directional move.
Derivatives Overview & Outlook
Yesterday, all index futures moved southward on short buildup as Nifty, Banknifty, Finnifty and MidcpNifty futures added 4.1%, 3.7%, 49.4% and 4.1% of open interest respectively.
All F&O sectors, barring Metals and Technology, settled on a negative note. Amongst them, Auto, Finance, Infrastructure and Power stocks witnessed maximum addition of short positions whereas some long buildup was seen among Metals stocks.
On option front, call writing along with some put addition was seen at multiple OTM strikes. Maximum positions are at 24000 CE and 23000 PE followed by 23200 PE.
Institutional Trading Activity
Yesterday, FIIs further sold stocks worth Rs 3912 Cr in the cash segment, sold index futures worth Rs 3407 Cr also sold stocks futures worth Rs 533 Cr. DIIs were net buyers in the cash segment to the tune of Rs 5109 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 23600-23700; Supports 23350-23200
Banknifty – Resistances 54200-54600; Supports 53700-53500
Finnifty – Resistances 25250-25400; Supports 25000- 24900
F&O stocks in ban today: SAIL & AMBER
Disclosure
Globe Capital Market Limited (“GCML”) is a Stock Broker registered with BSE, NSE, MCX, NCDEX, and MSEI in all the major segments viz. Capital, F & O and CDS segments. GCML is also a Depository Participant and registered with both the Depositories viz. CDSL and NSDL. Further, GCML is a SEBI registered Portfolio Manager and Research Analyst. GCML includes subsidiaries, group and associate companies, promoters, directors, employees and affiliates. AY Securities and Commodities Limited, Globe Derivatives and Securities Limited & Globe Fincap Limited are subsidiaries of GCML. AtoZ Finstock Private Limited, A to Z Consultants Private Limited, A to Z Venture Capital Limited, M. Agarwal Stock Brokers Private Limited, A M Share Brokers Private Limited, Shri Adinath Advertising Company Pvt. Ltd., Orient Landbase Private Limited, Bolt Synthetic Private Limited, Price ponder Private Limited and Lakshya Impex Private Limited are the associates of GCML.
This report has been prepared by GCML and published in accordance with the provisions of Regulation 19 of the Securities and Exchange Board of India (Research Analysts) Regulations, 2014, for use by the recipient as information only and is not for general circulation or public distribution. This report is not to be altered, transmitted, reproduced, copied, redistributed, uploaded, published or made available to others, in any form, in whole or in part, for any purpose without prior written permission from GCML. The projections and the forecasts described in this report are based on estimates and assumptions and are inherently subject to significant uncertainties and contingencies. Projections and forecasts are necessarily speculative in nature, and it can be expected that one or more of the estimates on which the projections are forecasts were based may not materialize or may vary significantly from actual results and such variations will likely increase over the period of time. This report should not be construed as an offer to sell or the solicitation of an offer to buy, purchase or subscribe to any securities, and neither this report nor anything contained therein shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. It does not constitute a personal recommendation or take into account the particular investment objective, financial situation or needs of any individual in particular. The research analysts of GCML have adhered to the code of conduct under Regulation 24 (2) of the Securities and Exchange Board of India (Research Analysts) Regulations, 2014. The recipients of this report must make their own investment decisions, based on their own investment objectives, financial situation or needs and other factors. The recipients should consider and independently evaluate whether it is suitable for its/ his/ her/their particular circumstances and if necessary, seek professional / financial advice as there is substantial risk of loss. GCML does not take any responsibility thereof.
Any such recipient shall be responsible for conducting his/her/its/their own investigation and analysis of the information contained or referred to in this report and of evaluating the merits and risks involved in securities forming the subject matter of this report. The price and value of the investment referred to in this report and income from them may go up as well as down, and investors may realize profit/loss on their investments. Past performance is not a guide for future performance. Actual results may differ materially from those set forth in the projection GC does not take any responsibility thereof. This report has been prepared by GCML based on the information available in the public domain and other public sources believed to be reliable. Though utmost care has been taken to ensure its accuracy and completeness, no representation or warranty, express or implied is made by GCML that such information is accurate or complete and/or is independently verified. The contents of this report represent the assumptions and projections of GCML and GCML does not guarantee the accuracy or reliability of any projection, assurances or advice made herein. Nothing in this report constitutes investment, legal, accounting and/or tax advice or a representation that any investment or strategy is suitable or appropriate to recipients’ specific circumstances.
Since GCML or its associates are engaged in various financial activities, they might have financial interest or beneficial ownership in various companies including subject company/companies mentioned in the report. GCML or its associates have not received any compensation for investment banking or merchant banking from the subject company in the past 12 months. GCML or its associates might have received any compensation including brokerage services and for products or services other than investment banking or merchant banking from the subject company in the past 12 months. It is confirmed that GCML or research analyst or its associates have not managed or co-managed public offering of securities for the subject company in the past 12 months. Research analyst or GCML or its relatives’/associates’ have no material conflict of interest at the time of publication of this report. Neither research analyst nor GCML are engaged in market making activity for the subject company. It is confirmed that research analysts do not serve as an officer, director or employee of the subject company. It is also confirmed that research analyst have not received any compensation from the subject company in the past 12 months.
The views contained in this document are those of the analyst, and the company may or may not subscribe to all the views expressed within. This information is subject to change, as per applicable law, without any prior notice. GCML reserves the right to make modifications and alternations to this statement, as may be required, from time to time.
Research analyst or GCML or its relatives’/associates’ do not have actual/beneficial ownership of 1% or more in securities of the subject company, at the end of the month immediately preceding the date of publication of the document. Registration granted by SEBI, membership of BASL (in case of IAs) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
Our research analysts may use AI tools to collect, summarize, and present data in order to increase productivity and enhance the clarity and readability of our reports. However, all reports are subject to human review prior to finalization and distribution to end users.
Our published research reports are the property of GCML and its associate and subsidiary companies. These reports may not be copied, reproduced, distributed or otherwise used by any other brokerage or individual firm without the prior written permission of GCML or its associate/subsidiary companies.