First Tick: Top 10 data points from overnight markets

As of now, traders should wait on sidelines for the volatility to settle down, advised experts.

The benchmark Sensex and Nifty indices are expected to open higher on June 5, following GIFT Nifty trends indicating a gain of 95.5 points (0.44 percent) for the broader index.

The Dalal Street witnessed a bloodbath on vote counting day on June 4, as market participants remained concerned after the BJP-led NDA received a clear mandate but not returning with a much stronger majority as expected in exit polls.

The Nifty50 index registered the biggest single-day fall since March 23, 2020 (during Covid lockdown crash).

At close, the Sensex was down 4,389.73 points or 5.74 percent at 72,079.05, and the Nifty was down 1,379.40 points or 5.93 percent at 21,884.50.

GIFT Nifty (Gain)

The GIFT Nifty is trading 95 .5 points higher on June 5 compared to the Nifty 50 close, indicating a positive start for the day. Nifty futures were trading at 22,042.50 at 06:50 am IST.

Asian markets were trading mixed on Wednesday as investors assessed India’s election results after Prime Minister Narendra Modi’s Bharatiya Janata Party fell short of an outright majority in the lower house of parliament.

At 06:50 am IST, Asian indices were trading as follows:

US stocks ended a shade higher on Tuesday following softer-than-expected labor market data that reaffirmed expectations of an interest rate cut by the Federal Reserve.

Data on Tuesday showed that U.S. job openings fell to their lowest level in more than three years in April, signaling an easing in labor market tightness that supported a Fed rate cut this year. The U.S. Treasury yields slipped following the report.

The Dow Jones Industrial Average rose 140.26 points, or 0.36%, to 38,711.29, the S&P 500 gained 7.94 points, or 0.15%, to 5,291.34 and the Nasdaq Composite gained 28.38 points, or 0.17%, to 16,857.05.

The US 10-year Treasury yields rose 22 basis points to 4.33 percent, while US 2 year bond yield was up 13 basis points.

The dollar steadied on Wednesday as traders pared back on riskier bets in emerging markets while waiting on an interest rate decision in Canada and on U.S. services data.

The Asian currencies were trading mostly higher against the US dollar in today's trade. At 06.50 am IST, Asian currencies were trading as follows.

Gold and Silver prices were trading flat in the early trade on Wednesday.

Oil prices extended losses slightly from the previous session in early Asian trading on Wednesday after an industry report showed builds in U.S. crude and fuel stockpiles, adding to concerns around demand growth.

Brent crude futures fell 14 cents, or 0.2%, to $77.38 a barrel. U.S. West Texas Intermediate crude futures fell 18 cents, or 0.3%, to $73.07 a barrel.

LME commodity prices were trading lower in the early trade on Wednesday, with Nickel, Copper and Lead down 2 percent and each.

A huge selling was seen from Foreign institutional investors (FIIs) on June 4 as they sold Indian equities worth Rs 12,436.22 crore , while domestic institutional investors also sold equities worth Rs 3,218.98 crore on same day.

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

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