The benchmark Sensex and Nifty indices are expected to trade higher on June 4, following GIFT Nifty trends indicating a gain of 110.5 points (0.47 percent) for the broader index.
Indian equity markets surged more than 3 percent on June 3, clocking the biggest single-day gain in three years, as Dalal Street cheered the outcome of most of the exit poll, predicting a significant win for the BJP-led NDA for the third time in a row.
At close, the Sensex was up 2,507.47 points or 3.39 percent at 76,468.78, and the Nifty was up 733.20 points or 3.25 percent at 23,263.90.
Here is how financial markets across the globe fared overnight, giving you some cues about how trade is poised for today.
GIFT Nifty (Gain)
The GIFT Nifty is trading 110 .5 points higher on June 4 compared to the Nifty 50 close, indicating a gap-up opening for the day. Nifty futures were trading at 23,577.50 at 06:50 am IST.
Asian Equities (Down)
Asian markets opened lower Tuesday after kicking off June on solid ground, with investors now awaiting the final results of India’s general elections.
At 06:50 am IST, Asian indices were trading as follows:
| INDICES | CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) |
| Nikkei | -.066 | 0.52 | 4.16 |
| Topix | -0.41 | 0.51 | 6.15 |
| Hang Seng | -0.37 | 1 | 7.37 |
| Taiwan | -0.29 | 1.45 | 13.2 |
| Kospi | -0.57 | 1.51 | -5.5 |
S&P 500 and the Nasdaq edged higher in a choppy session on Monday amid soft manufacturing sector data and as a glitch on the NYSE briefly caused trading halts in dozens of equities.
| INDICES | CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) |
| Dow Jones | -0.30 | -0.68 | 2.26 |
| S&P500 | 0.11 | -0.28 | 10.68 |
| Nasdaq | 0.56 | 0.18 | 12 |
The US 10-year Treasury yields gained 40 basis points to 4.40 percent, while US 2 year bond yield was up 26 basis points.
| CURRENT PRICE | MONTH AGO | YEAR AGO | |
| US 10-Year Treasury | 4.40 | 4.67 | 3.87 |
| US 2-Year Treasury | 4.82 | 5.03 | 4.25 |
The dollar languished at its lowest since April against the euro and sterling on Tuesday as signs of a softening U.S. economy boosted the case for earlier Federal Reserve interest rate cuts.
| CURRENT PRICE | MONTH AGO | YEAR AGO | |
| DOLLAR INDEX | 104.05 | 106.22 | 101.33 |
The Asian currencies were trading mixed against the US dollar in today's trade. At 06.50 am IST, Asian currencies were trading as follows.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Indonesian Rupiah | 0.142 | -0.90 | -5.12 |
| South Korean Won | 0.243 | -0.997 | -6 |
| Taiwan Dollar | 0.18 | 0.022 | -5.5 |
| Thai Baht | -0.115 | 0.270 | -6.5 |
| Japanese Yen | -0.23 | -1.7 | -9.8 |
| Philippines Peso | 0.121 | -2.3 | -5.5 |
| Singapore Dollar | -0.022 | 0.37 | -1.92 |
| Malaysian Ringgit | 0.299 | 0.99 | -2 |
| China Renminbi | -0.018 | -0.47 | -2 |
Gold and Silver prices were trading marginally lower in the early trade on Tuesday.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Gold | -0.11 | 0.90 | 13.82 |
| Silver | -0.26 | 0.80 | 29 |
Oil prices eased in early trade on Tuesday, extending their losses from the previous session when prices fell to their lowest in four months, as investors worried about supply ticking up later in the year.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| US West Texas | -0.44 | - 4 | 3.11 |
| Brent Crude | -0.41 | -4.3 | 1.27 |
LME commodity prices were trading mixed in the early trade on Tuesday, with Nickel was down 1.5 percent and Zinc down nearly 1 percent, while Copper prices were up 1.3 percent.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Aluminium | 0.34 | 0.34 | 11.64 |
| Nickel | -1.46 | -1.46 | 17 |
| Copper | 1.3 | 1.03 | 18.5 |
| Zinc | -0.89 | -0.89 | 10.7 |
| Lead | 0.66 | 0.66 | 10.6 |
The Foreign institutional investors (FIIs) extended their buying on June 3 as they bought Indian equities worth Rs 6,850.76 crore , while domestic institutional investors also bought equities worth Rs 1,913.98 crore on same day.
| FII/DII (Rs In Cr) | 3rd June | May 2024 | YTD |
| FII Net Flows | 6,850.76 | -46,792 | -1<21,762 |
| DII Net Flows | 1,913.98 | 55,739.4 | 2,07,120 |
Now you're all set for the market day! Happy trading!
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!
