First Tick: Top 10 data points from overnight markets

Global Markets Outlook

The benchmark Sensex and Nifty indices are expected to open gap-up on May 31, following GIFT Nifty trends indicating a gain of 210 points for the broader index.

Bears tightened their control on the Dalal Street on May 30 as the benchmark indices extended the selling for fifth straight session with Nifty finishing May F&O expiry below 22,500.

At close, the Sensex was down 617.30 points or 0.83 percent at 73,885.60, and the Nifty was down 216 points or 0.95 percent at 22,488.70.

The GIFT Nifty is trading 210 points higher on May 31 compared to the Nifty 50 close, indicating a gap-up opening for the day. Nifty futures were trading at 22699 at 07:05 AM IST.

Asian markets were trading higher on Friday as investors parsed data from major economies across the region.

Japan’s industrial output figures showed a surprise 0.1% fall in April from the previous month, smaller than a Reuters poll forecast for a 0.9% rise.

South Korea’s industrial production index rose 2.2% month-on-month in April on a seasonally adjusted basis, beating a Reuters poll expectation of a 1.1% rise.

At 07:00 AM IST, Asian indices were trading as follows:

US stocks ended lower on Thursday, with the Nasdaq falling more than 1% and technology shares leading declines after a disappointing Salesforce forecast.

Investors also digested data showing the economy had grown slower than previously expected in the first quarter. A separate report showed weekly jobless claims rose more than expected.

The US 10-year Treasury yields were down by 17 basis points to 4.53%, while US 2 year bond yield was down 13 bps to 4.91% after a downward revision to U.S. GDP for the first quarter.

The dollar was licking wounds against peer currencies on Friday after a downward revision to U.S. GDP for the first quarter suggested room for rate cuts this year, while investors braced for inflation data.

Most of the Asian currencies were trading marginally in the green against the US dollar in today's trade. Over the month, except Philippines Peso, all other currencies have given positive return. At 07.00 IST, Asian currencies were trading as follows.

Gold prices were trading higher, while silver prices were trading marginally lower in the early trade.

Oil prices fell early on Friday as investors responded to comments from U.S. Fed officials who said it was too soon to start considering rate cuts, and following a surprise build in U.S. gasoline stocks that weighed on the market.

LME commodity prices were trading in the red in the early, with Copper down 3 percent and Aluminium and Nickel down 2 percent each. However, month-on-month basis, all the commodities have given positive return.

The Foreign institutional investors (FIIs) extended their selling for the second day as they sold Indian equities worth Rs 3050.15 crore on May 30, while domestic institutional investors provided support as they bought equities worth Rs 3,432.92 crore on the same day.

Now you're all set for the market day! Happy trading!