First Tick: Here are the top global cues for today’s trade

Market Today

Indian benchmark indices Sensex and Nifty 50 are likely to see a flat to positive start on May 6, tracking cues from GIFT Nifty trading around 24,585.50 a short while ago this morning.

Track the latest updates on GIFT Nifty right here on Moneycontrol.

Benchmark indices ended at their highest closing level for 2025 on May 5, buoyed by recent foreign institutional inflows and an improved sentiment driven by declining crude oil prices.

At the close, the Sensex settled at 80797, rising 0.4 percent or 295 points, while the Nifty 50 climbed 0.47 percent or 114.45 points to 24461. BSE Midcap gained 1.45 percent while BSE Smallcap advanced 1.23 percent.

The GIFT Nifty is trading higher at around 24,585.50, indicating a flat to positive opening for the day.

Most of the Asian markets shut amid holidays, with the Taiwan Weighted up 0.5 percent.

The S&P 500 fell to snap its longest streak of gains in 20 years on Monday as investors assessed U.S. President Donald Trump's latest tariff announcement ahead of the Federal Reserve's monetary policy decision later this week.

The Dow Jones Industrial Average fell 98.60 points, or 0.24%, to 41,218.83, the S&P 500 lost 36.29 points, or 0.64%, to 5,650.38, and the Nasdaq Composite lost 133.49 points, or 0.74%, to 17,844.24.

The US 10-year Treasury yield was up 3 basis points at 4.34 percent, and the US 2-year bond yield was up marginally at 3.83 percent in the early trade on Tuesday.

The dollar gained in early Asian trade after a two-day slide as investors across Asia stayed focused on exacerbated currency appreciations from Taiwan to Malaysia

All the Asian currencies were trading lower in the early Tuesday trade, with the South Korean Won leading the losers, followed bythe  Malaysian Ringgit, Singapore Dollar, China Renminbi, and  Japanese Yen.

Oil steadied on Tuesday after hitting four-year lows in the previous session, which was driven by an OPEC+ decision to accelerate output increases, stoking fears of oversupply at a time when U.S. tariffs have spurred concerns about demand.

Gold steadied — following a surge of almost 3% on Monday — as investors focused on a weaker dollar, with prospects for potential US trade deals reverberating through currency markets, including in Asia.

The Foreign institutional investors (FIIs) extended buying on May 5 as they bought equities of Rs 497 crore, while Domestic institutional investors (DIIs) also bought equities of Rs 2788 crore.

Hope you're all set for today's trade. We wish you a profitable day ahead.