The GIFT Nifty signaled a promising start despite a downturn in U.S. markets, as traders exhibited caution amid ongoing trade uncertainties. Wall Street experienced a decline, which prompted investors to reassess their positions. On Monday, the NSE Nifty 50 enjoyed a rise of 114.45 points, or 0.47%, concluding at 24,461, while the BSE Sensex increased by 295 points, or 0.37%, finishing at 80,797.
Key Global and Domestic Market Insights for May 6, 2025
Asian Market Overview
On May 6, significant Asian stock indices, such as Japan’s Nikkei 225, Hong Kong’s Hang Seng, and Korea’s Kospi, remained closed due to Greenery Day celebrations. However, Australian stocks opened the day on a steady note, suggesting a mixed outlook for the region.
U.S. Market Performance
The U.S. stock markets ended their impressive nine-day winning streak, with investors growing wary of renewed global trade uncertainties. The Dow Jones Industrial Average dropped by 98.60 points (0.24%), closing at 41,218.83. The S&P 500 fell 0.6% to end at 5,650.38, while the Nasdaq Composite decreased by 0.74%, closing at 17,844.24.
U.S. Dollar Trends
On Tuesday morning, the U.S. Dollar Index (DXY), which gauges the dollar’s strength against a basket of six foreign currencies, slipped by 0.21%, settling at 100.04. This index includes major currencies, such as the British Pound, Euro, Swedish Krona, Japanese Yen, and Swiss Franc. The Indian rupee appreciated by 0.30%, closing at 84.25 against the dollar on May 5.
Crude Oil Prices
Crude oil prices witnessed an uptick on Tuesday. WTI crude was priced at $57.90, reflecting a 1.37% increase, while Brent crude traded at $61.08, up by 1.52% in the morning session.
Investment Movements
According to provisional data from the NSE, foreign institutional investors (FII) were net buyers, acquiring shares worth Rs 497.79 crore. Meanwhile, domestic institutional investors (DII) showed a stronger appetite, net buying shares worth Rs 2,788.66 crore on May 5, 2024.
Current Gold Prices
Gold prices have slightly retreated from their all-time highs but remain robust. The price for 24-carat gold is currently Rs 95,060 per 10 grams, down 0.65% from the previous week. For those interested in 22 kt gold, the rate is Rs 87,138 per 10 grams, while 18-carat gold is priced at Rs 71,295.
This blend of market updates and key financial insights is essential for investors looking to navigate the current economic landscape effectively. Stay tuned for more updates!
