Indian benchmark indices Sensex and Nifty 50 are likely to see a positive start on June 2, tracking cues from GIFT Nifty trading around 24,881 a short while ago this morning.
Track the latest updates on GIFT Nifty right here on Moneycontrol.
Indian benchmark indices kicked off the June derivatives series on a subdued note on May 30, as optimism over strong foreign portfolio investor (FPI) inflows and domestic growth prospects was overshadowed by caution ahead of GDP data and mixed global cues. Investor sentiment also weakened after a US federal appeals court reinstated steep tariffs on foreign imports, reversing a lower court decision.
At close, the Sensex was down 182.01 points or 0.22 percent at 81,451.01, and the Nifty was down 82.90 points or 0.33 percent at 24,750.70. About 1,751 shares advanced, 2,087 shares declined, and 114 shares unchanged.
Here is how financial markets across the globe fared overnight:GIFT Nifty (Up)
The GIFT Nifty is trading higher at around 24,881, indicating a positive start for the day.
Asian Equities (Mixed)
Asian share markets made a wary start to the week on Monday as investors navigated the shifting sands of White House tariff policy, while awaiting key U.S. jobs data and a widely expected cut in European interest rates.
US Equities (Mixed)
The S&P 500 ended a volatile session little changed on Friday as U.S. President Donald Trump slammed China before sounding upbeat about reaching a trade deal, but the benchmark index tallied its biggest monthly increase since November 2023.
The Nasdaq also registered its biggest monthly percentage gain since November 2023.
The Dow Jones Industrial Average rose 54.34 points, or 0.13%, to 42,270.07. The S&P 500 lost 0.48 points, or 0.01%, at 5,911.69 and the Nasdaq Composite fell 62.11 points, or 0.32%, to 19,113.77.
The S&P 500 also finished Friday with a weekly gain that lifted it less than 4% from its February all-time high. The benchmark index rose about 6.2% in May, while the Nasdaq surged 9.6% for the month.
US Bond Yield (Flat)
The yields on the US 10-year Treasury and 2-year Treasury were trading marginally higher in the early trade on Monday.
Dollar Index (Down)
The dollar extends a decline against its Group-of-10 peers amid concern higher US tariffs will backfire on the world’s largest economy.
Asian currencies (Mixed)
Asian currencies were trading mixed in the early Monday trade with South Korean Won leading the gainers, followed by Japanese Yen, Thai Baht, Singapore Dollar.
Crude (Gains)
Oil prices rebounded more than USD 2 a barrel on Monday after OPEC+ decided to increase output in July by the same amount as it did in each of the prior two months, in line with market expectations.
Gold (Up)
Gold retraced some of the heavy losses it incurred earlier this week, after bond yields sank on weak US economic data that raised bets on further Federal Reserve interest-rate cuts.
Fund Flow Action
The Foreign institutional investors (FIIs) snapped five-day gaining streak as they sold equities worth Rs 6,449.74 crore on May 31, while Domestic institutional investors (DIIs) extended their buying on ninth day as they purchased equities of Rs 9,095.91 crore on the same day.
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