The GIFT Nifty is indicating a positive opening, buoyed by a robust performance in US markets. Recent data on non-farm payrolls exceeded expectations, alleviating recession fears and contributing to a surge on Wall Street.
On the previous trading day, the NSE Nifty 50 managed a slight gain, finishing up by 12.5 points, or 0.05%, at 24,347. Meanwhile, the BSE Sensex climbed 260 points, translating to a 0.32% increase, closing at 80,502.
Global and Domestic Market Insights
Asian Markets Overview
On May 5, 2025, major Asian stock markets, including Japan’s Nikkei 225, Hong Kong’s Hang Seng, and Korea’s Kospi, remained closed in observance of Vesak Day. This holiday honors the significant events in the life of Gautama Buddha.
Performance of US Markets
The US stock markets continued their upward trajectory, driven by favorable non-farm payroll reports. The Dow Jones Industrial Average surged by 564.47 points, or 1.39%, closing at 41,317.43. The S&P 500 and Nasdaq Composite also saw gains, up 1.47% to finish at 5,686.67, and 1.51%, closing at 17,977.73, respectively.
Currency and Commodity Updates
US Dollar Status
The US Dollar Index (DXY), which tracks the dollar’s performance against six major currencies, fell by 0.13%, settling at 99.73. This index reflects the dollar’s relative strength compared to currencies such as the British Pound, Euro, and Japanese Yen. On May 2, the Indian rupee fell by 0.04%, ending at 84.53 per dollar.
Crude Oil Price Movements
Crude oil prices experienced a dip on Monday. WTI crude was trading at $56.07, down 3.77%, while Brent crude prices fell to $59.17, a 3.47% decline.
Investment Trends: FII and DII Data
Foreign institutional investors (FII) were active buyers, purchasing shares worth Rs 2,769.81 crore. Conversely, domestic institutional investors (DII) were net sellers, offloading shares valued at Rs 3,290.49 crore on May 2, 2024, as per preliminary data from the NSE.
Gold Price Update
Gold prices have retreated from their record highs. Currently, the rate for 24-carat gold is Rs 93,000 per 10 grams, reflecting a 3.45% decrease over the past month. The price for 22-carat gold stands at Rs 85,250, while 18-carat gold is priced at Rs 69,750.
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