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.
Here is how financial markets across the globe fared overnight, giving you some cues about how trade is poised for today.
GIFT Nifty (Negative)
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 Equities (Fall)
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.
| INDICES | CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) |
| Nikkei | -1.45 | 0.67 | 3.53 |
| Topix | -0.66 | 0.11 | 4 |
| Hang Seng | -0.7 | 5.5 | 10 |
| Taiwan | -0.86 | 5.8 | 13.4 |
| Kospi | -1 | 0.78 | -4.2 |
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.
| INDICES | CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) |
| Dow Jones | -1.53 | 3.11 | 3.7 |
| S&P500 | -0.7 | 4.42 | 10.5 |
| Nasdaq | -0.39 | 6.7 | 11.6 |
The US 10-year Treasury yields were trading lower from their previous close.
| CURRENT PRICE (%) | MONTH AGO (%) | YEAR AGO (%) | |
| US 10-Year Treasury | -0.31 | 1.44 | 0.9 |
| US 2-Year Treasury | -0.35 | 1.17 | -0.63 |
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.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Dollar Index | Unchanged | 1.05 | 3.72 |
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:
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| South Korean won | -0.52 | 0.011 | -5.71 |
| Taiwan dollar | -0.12 | 0.82 | -5.25 |
| Thai Baht | -0.08 | 1.11 | -6.52 |
| Japanese yen | -0.04 | -1 | -10.17 |
| Philippines peso | -0.20 | -1.21 | -5 |
| Singapore dollar | -0.007 | 0.75 | -2.3 |
| Malaysian ringgit | -0.25 | 1.3 | -2.58 |
| China Renminbi | -0.044 | 0.015 | 2 |
| Indonesian rupiah | 0.025 | 1.5 | -3.7 |
Gold prices remained unchanged, while Silver prices were trading with marginal losses in the early trade.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| GOLD | -0.08 | 1.78 | 12.8 |
| SILVER | -0.24 | 14.4 | 26.3 |
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.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| US West Texas | -0.03 | -6.2 | 7.27 |
| Brent Crude | 0.01 | -7.4 | 5.62 |
The LME commodity prices fell in the early trade on Friday with Nickel down 1.4 percent and Aluminium down 0.5 percent.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Aluminium | -0.57 | 1.16 | 9.96 |
| Nickel | -1.38 | 4.4 | 21 |
| Copper | -0.01 | 4.27 | 21.71 |
| Lead | -0.35 | 4.01 | 11.5 |
| Zinc | Unchanged | 4.67 | 15.2 |
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.
| FII/DII (Rs In Cr) | 23rd MAY | MTD | YTD |
| FII Net Flows | 4,670.95 | -38,093.1 | -115243.05 |
| DII Net Flows | 146.51 | 38630.41 | 188096.51 |
Now you're all set for the market day! Happy trading!
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