The benchmark Sensex and Nifty indices are expected to open higher on June 6 following indication from GIFT Nifty, which is sustaining gains of around 175 points (0.78 percent) as of 7:20am.
Track latest updates on GIFT Nifty right here on Moneycontrol.
Benchmark indices Nifty and Sensex rebounded on June 5 as two key allies pledged their support to form a new government with the BJP, giving investors confidence in political stability and continuity.
At close, the Sensex was up 2,303.19 points or 3.20 percent at 74,382.24, and the Nifty was up 735.80 points or 3.36 percent at 22,620.30. About 2331 shares advanced, 1,022 declined, and 76 were unchanged.
Here is how financial markets across the globe fared overnight, giving you some cues about how trade is poised for the day.
GIFT Nifty (Gain)
The GIFT Nifty is trading 175 points higher on June 6 at 7:20am, compared to the Nifty 50 close, indicating a gap-up start for the day. Nifty futures were trading at 22,670 at 07:10 am IST.
Asian Equities (Gain)
Asian markets were higher on Thursday as hopes of rate cut by the European Central Bank boosted market sentiment, while major indexes in the U.S. hit fresh highs overnight.
At 07:10 am IST, Asian indices were trading as follows:
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Nikkei | 1.20 | 2.23 | 5.74 |
| Topix | 0.71 | 0.85 | 6.2 |
| Hang Seng | 0.8 | 2.8 | 9.2 |
| Taiwan | 1.73 | 3.78 | 15.7 |
| Kospi | 1.03 | 3.4 | -4 |
The S&P 500 and Nasdaq indexes hit record closing highs on Wednesday, powered mainly by technology stocks as markets digested economic data that could support a much-expected start to the Federal Reserve's policy easing cycle.
Traders now see a nearly 69% chance of a September rate reduction, according to the CME's FedWatch tool. Expectations had hovered around 50% last week.
The Dow Jones Industrial Average rose 96.04 points, or 0.25%, to 38,807.33, the S&P 500 gained 62.69 points, or 1.18%, to 5,354.03 and the Nasdaq Composite gained 330.86 points, or 1.96%, to 17,187.91.
The S&P 500's previous record-high close was 5,321.41 on May 21, and the Nasdaq's previous record close was 17,019.88 on May 28.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Dow Jones | 0.25 | 0.21 | 3.18 |
| S&P500 | 1.18 | 1.35 | 12.48 |
| Nasdaq | 1.96 | 2.6 | 14.73 |
The US 10-year Treasury yields were trading higher by 18 basis points to 4.28 percent, while US 2 year bond yield was up 9 basis points at 4,72 percent, from their previous close.
| CURRENT PRICE | MONTH AGO | YEAR AGO | |
| US 10-Year Treasury | 4.28 | 4.67 | 3.87 |
| US 2-Year Treasury | 4.72 | 5.03 | 4.25 |
The dollar index was trading lower on Thursday at around 104.
| CURRENT PRICE | MONTH AGO | YEAR AGO | |
| DOLLAR INDEX | 104.16 | 106.22 | 101.33 |
Most of the Asian currencies were trading marginally higher against the US dollar in the early trade. At 06.50 am IST, Asian currencies were trading as follows.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Indonesian Rupiah | -0.411 | -1.6 | -5.45 |
| South Korean Won | 0.57 | -0.46 | -5.44 |
| Taiwan Dollar | 0.26 | 0.30 | -5.20 |
| Thai Baht | 0.23 | 0.64 | -6.16 |
| Japanese Yen | 0.40 | -1.10 | -9.29 |
| Philippines Peso | 0.30 | -2.37 | -5.51 |
| Singapore Dollar | 0.22 | 0.39 | -1.9 |
| Malaysian Ringgit | 0.098 | 0.98 | -2.11 |
| China Renminbi | -0.102 | -0.53 | -2 |
Gold prices were trading with a gain of 0.24 percent, while Silver prices rose nearly 1 percent in the early trade on Thursday.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Gold | 0.24 | 1.56 | 14.44 |
| Silver | 0.86 | -0.20 | 27.20 |
Oil rose in early Asian trading on Thursday on rising expectations the Federal Reserve will cut interest rates in September, and as the market rebounded from a selloff related to growing U.S. inventories and an OPEC+ plan to increase supply.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| US West Texas | 74.40 | -3.31 | 3.92 |
| Brent Crude | 78.70 | -3.6 | 2.15 |
LME commodity prices slipped in the early trade on Thursday, with Aluminium dowm 1.5 percent and Zinc down 2.4 percent.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Aluminium | -1.56 | -1.15 | 9.98 |
| Nickel | -0.09 | -7.21 | 10.15 |
| Copper | -0.20 | -1.14 | 16 |
| Zinc | -2.41 | -4 | 7.75 |
| Lead | -0.6 | -2 | 7.78 |
Foreign institutional investors (FIIs) continued their selling on second consecutive session on June 5 as they sold Indian equities worth Rs 5,656.26 crore , while domestic institutional investors turned net buyers as they purchased equities worth Rs 4,555.08 crore on same day.
| FII/DII (Rs Cr) | 5th June | MTD | YTD |
| FII Net Flows | -5,656.26 | -11,241.7 | -1,39,855 |
| DII Net Flows | 4,555.08 | 3,150.08 | 2,08,356 |
Now that you're all set for the day's trade, wish you a profitable day ahead.
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