Stock market recap, June 2 -- The Indian equity markets had a challenging start to June, with benchmark indices erasing early gains to end in the red. The Nifty 50 closed at 23,382.60, down 0.70% or 165.15 points, while the Sensex similarly slipped to 74,267.34.

Market breadth was notably weak, with an advance-decline ratio of roughly 1:2, as 1,151 stocks advanced against 2,202 declines. Sectoral performance was largely bearish. Nifty FMCG and Nifty Auto led the laggards, falling 2.30% and 1.70%, respectively. In contrast, Nifty IT stood out as a defensive outperformer, rising 2.66%.

Sentiment remained cautious amid escalating geopolitical tensions in West Asiaand concerns over a "below-normal" monsoon forecast, which has heightened fea...