The benchmark Sensex and Nifty indices are expected to open on a negative note on May 30, following GIFT Nifty trends indicating a loss of 54.50 points for the broader index.
The Indian equity market continued their losing streak for the fourth consecutive session on May 29 with Nifty at 22,700 amid selling seen in the oil & gas, IT, realty, and banking names.
At close, the Sensex was down 667.55 points or 0.89 percent at 74,502.90, and the Nifty was down 183.50 points or 0.80 percent at 22,704.70.
Here is how financial markets across the globe fared overnight, giving you some cues about how trade is poised for today.
GIFT Nifty (Falls)
The GIFT Nifty is trading 54.50 points lower on May 30 compared to the Nifty 50 close, indicating a weak start for the day. Nifty futures were trading at 22,667.50 at 06:50 AM IST.
Asian Equities (Down)
Asian markets extended losses on Thursday, tracking Wall Street’s moves ahead of a slew of economic data from the region on Friday.
Japan’s Nikkei fell more than 2%, while the broader Topix dropped 1.4% in early trading. South Korea’s Kospi shed nearly 1%.
At 07:00 AM IST, Asian indices were trading as follows:
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Nikkei | -2.08 | -1.65 | 1.15 |
| Topix | -1.41 | -1.41 | 2.46 |
| Hang Seng | Unchanged | 4 | 8.53 |
| Taiwan | -1 | -5.5 | 13 |
| Kospi | -0.97 | -1.12 | -6.10 |
US stocks fell on Wednesday amid further gains in Treasury yields and concern over the timing and scale of possible interest rate cuts from the Federal Reserve.
The Dow fell more than 1% and hit its lowest level in nearly a month. All of the S&P 500 sectors ended lower as well, with rate-sensitive utilities among sectors with the biggest declines.
| INDICES | CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) |
| Dow Jones | - 1 | 1.54 | 2.16 |
| S&P500 | - 0.74 | 4.48 | 10.6 |
| Nasdaq | -0.58 | 8 | 12 |
The US bond yields were trading with marginal gains in the early trade.
| CURRENT PRICE | MONTH AGO | YEAR AGO | |
| US 10-Year Treasury | 4.61 | 4.67 | 3.87 |
| US 2-Year Treasury | 4.97 | 5.03 | 4.25 |
The dollar soared to a two-week high against its major peers on Thursday, as a rout in Treasuries improved the currency's allure due to both higher U.S. yields and demand for safe haven assets.
| CURRENT PRICE | MONTH AGO | YEAR AGO | |
| Dollar Index | 105.15 | 106.22 | 101.33 |
Asian currencies were trading lower against the US dollar in today's trade. Over the year, Japanese Yen fell more than 10 percent. At 07.00 IST, Asian currencies were trading as follows.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Indonesian Rupiah | -0.433 | 0.588 | -4.7 |
| South Korean Won | -0.67 | 0.581 | 6.4 |
| Taiwan Dollar | -0.27 | 0.54 | -5.6 |
| Thai Baht | -0.14 | 0.85 | -7 |
| Japanese Yen | 0.14 | 0.24 | -10.4 |
| Philippines Peso | -0.21 | -1.38 | -5.4 |
| Singapore Dollar | Unchanged | 0.98 | -2.35 |
| Malaysian Ringgit | -0.21 | 1.23 | -2.55 |
| China Renminbi | -0.065 | -0.27 | -2 |
Gold and silver prices were trading marginally higher in the early trade.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Gold | 0.10 | 2.17 | 13.23 |
| Silver | 0.11 | 21.73 | 34.56 |
Oil prices were down on Thursday as the markets wait on the latest U.S. crude oil stockpiles data while resilient U.S. economic activity pointed to borrowing costs staying higher for longer in a potential blow to demand.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| US West Texas | 79.17 | -3.3 | 10.5 |
| Brent Crude | 83.52 | -5 | 8.41 |
Mixed performance was seen on the LME commodity front, Aluminium prices rose 1.4 percent, while Lead prices down 1 percent.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Aluminium | 1.39 | 6.80 | 16 |
| Nickel | 0.10 | 6.51 | 23.41 |
| Copper | -0.43 | 4.66 | 22.17 |
| Lead | -1 | 4.62 | 12.13 |
| Zinc | 0.10 | 6 | 16.74 |
On May 29, the Foreign institutional investors sold Indian equities worth Rs 5,841.84 crore, while domestic institutional investors bought equities worth Rs 5,233.79 crore on the same day.
| FII/DII (Rs in Cr) | 29th May | MTD | YTD |
| FII Net Flows | -5,841.84 | -45,355.4 | -1,27,176 |
| DII Net Flows | 5,233.79 | 50,192.3 | 1,99,659 |
Now you're all set for the market day! Happy trading!
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