Indian benchmark indices Sensex and Nifty 50 are likely to see a gap-up opening on May 12, tracking cues from GIFT Nifty trading around 24,559 a short while ago this morning.
Track the latest updates on GIFT Nifty right here on Moneycontrol.
The Indian indices extended the losses in the second consecutive session on May 9 amid pick-up in war activity between India and Pakistan, ignoring positive global cues.
The market opened gap-down with Nifty slipping below 24,000 mark and traded in negative territory throughout the session to close near day's low. At close, the Sensex was down 880.34 points or 1.1 percent at 79,454.47, and the Nifty was down 265.80 points or 1.1 percent at 24,008.
Here is how financial markets across the globe fared overnight:
GIFT Nifty (Gains)
The GIFT Nifty is trading string at around 24,559, indicating a gap-up opening for the day.
Asian Equities (Up)
Asian markets were trading higher in the early Monday trade, as China and the US made “substantial progress” on their trade talks, spurring a risk-on mode.
US Equities (Mixed)
US stocks ended the week on a quiet note on Friday after oscillating between slight gains and declines, as investors gauged President Donald Trump's comments on Chinese tariffs ahead of weekend trade talks between the two countries.
The Dow Jones Industrial Average fell 119.07 points, or 0.29%, to 41,249.38, the S&P 500 lost 4.03 points, or 0.07%, to 5,659.91, and the Nasdaq Composite gained 0.78 points, or flat, to 17,928.92.
US Bond Yield (Up)
The yields on US 10-year Treasury and 2-year bond gained 3 basis points each in early trade on Monday.
Dollar Index (Up)
The dollar climbed in early Asian trade on Monday after weekend talks between the United States and China eased concerns of a trade war between the world's two biggest economies, while global hot spots appeared to cool.
Asian currencies (Mixed)
Asian currencies were trading mostly lower in the early Monday trade, with Japanese Yen leading the losers, followed by Indonesian Rupiah, Thai Baht, Malaysian Ringgit, Taiwan Dollar, and Singapore Dollar. However, the South Korean Won, the Philippines Peso, and the China Renminbi were trading higher.
Crude (Rises)
Oil prices rose on Monday after both sides in U.S.-China trade talks over the weekend touted their progress, which lifted market sentiment that the world's two largest crude users may be moving toward a resolution of their trade dispute.
Gold (Down)
Gold fell as its haven status was impacted by signs of progress in trade talks between the US and China, along with some relief to geopolitical tensions.
Fund Flow Action
After remaining net buyers in the previous sixteen sessions, the Foreign institutional investors (FIIs) turned net sellers on May 9 as they offloaded equities of Rs 3,798 crore. On the other hand, Domestic institutional investors (DIIs) bought equities of Rs 7,277 crore on the same day.
Hope you're all set for today's trade. We wish you a profitable day ahead.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
