US markets trade flat as investors await payrolls data; S&P 500 trades flat-to-positive, GIFT Nifty down

Global Markets Outlook

The US Markets were little changed on June 6 as investors await key economic data. The US nonfarm payrolls data for the month of May will be released this Friday. At 8:30pm IST, the S&P 500 traded flat-to-positive at 5,354 and the Nasdaq Composite was down 0.03 percent lower at 17,181. However, the Dow Jones Industrial Average traded marginally higher, up 0.11 percent at 38,850.

The GIFT Nifty declined 0.23 percent to 22,864.50 despite Indian indices ending positive earlier during the day.

Indian indices continued to rise for a second day in a row, recovering from its election day tumble. Nifty ended 0.9 percent higher at 22,821.40 and the Sensex was down 0.93 percent at 75,074.51.

The European markets jumped higher on Thursday as the European Central Bank announced its first interest rate cut since September 2019. The FTSE edged 0.48 percent higher at 8,286.94 and the Dax was up 0.40 percent at 18,649.82. CAC also surged 0.44 percent to 8,041.41.

Earlier during the day, the Asian indices also ended in green. Nikkei ended 0.55 percent higher at 38,703.51 and the Hang Seng was up 0.28 percent at 18,476.80.

DIIs net purchased Rs 3,718.38 crores in Indian equities while the FIIs/FPIs continued to sell for a third day in a row, with net sales for the day at Rs 6,867.72 crores.

Crude edged higher for a second day in a row, up 1.66 percent at $75.30. Brent also surged 1.50 percent at $79.59.