First Tick: Top 10 data points from overnight markets

Market Today

The benchmark Sensex and Nifty indices are expected to open on a negative note on May 24, following GIFT Nifty trends indicating a loss of 53.50 points for the broader index.

On May 23, benchmark indices touched fresh record highs with Nifty closing shy of the coveted 23,000 mark amid buying across the sectors barring metal and pharma, ignoring hawkish Fed minutes. At close, the Sensex was up 1,196.98 points or 1.61 percent at 75,418.04, and the Nifty was up 369.90 points or 1.64 percent at 22,967.70.

The GIFT Nifty is trading 53.50 points lower compared to the Nifty 50 close on May 23, indicating a negative start for the day. Nifty futures were trading at 22,961 at 07:10 AM IST.

Asian markets fell on Friday as Wall Street continued to extend losses, despite a post-earnings rally from tech darling Nvidia

Japan’s core inflation — which strips out fresh food and energy — eased to 2.2% from 2.6% in March, in line with expectations. Headline inflation slowed to 2.5%, down from March’s 2.7% figure.

Overnight, US stocks ended sharply lower as enthusiasm over Nvidia's quarterly results faded and robust economic data fueled concerns over tighter-for-longer monetary policy. U.S. Treasury yields turned higher after the data.

All three major U.S. stock indexes gathered downward momentum in afternoon trading, ending the session deep in red territory.

The blue-chip Dow suffered the worst of it, closing down 1.5%..

The Dow Jones Industrial Average fell 605.78 points, or 1.53%, to 39,065.26, the S&P 500 lost 39.17 points, or 0.74%, to 5,267.84 and the Nasdaq Composite dropped 65.51 points, or 0.39%, to 16,736.03.

The US 10-year Treasury yields were trading lower from their previous close.

The dollar headed for its largest weekly rise in a month and a half on Friday, helped by surprisingly strong U.S. economic indicators and a hawkish tone in Federal Reserve minutes.

Asian currencies were trading flat to negative against the US dollar with South Korean won down 0.5 percent.

Over the past month, Philippine peso and Japanese yen down 1 percent each, while Malaysian ringgit, Thai Baht and  Indonesian rupiah gained 1 percent each. At 07.15 AM IST, Asian currencies were trading as follows:

Gold prices remained unchanged, while Silver prices were trading with marginal losses in the early trade.

Oil prices were steady early in the session on Friday as players took stock of the U.S. Federal Reserve's latest comments on interest rates amid sticky inflation, while firming seasonal U.S. fuel demand lent support.

The LME commodity prices fell in the early trade on Friday with Nickel down 1.4 percent and Aluminium down 0.5 percent.

Foreign institutional investors turned buyers on May 23 as they bought Indian equities worth Rs 4,670.95 crore, while domestic institutional investors bought Rs 146.51 crore worth of equities during the same period.

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

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