NewsMarketsTrade Setup for Today: Global Cues, Commodities, and Key Events to Watch on May 2, 2025Trade Setup for Today: Global Cues, Commodities, and Key Events to Watch on May 2, 2025
By ScanX News Team
Indian markets are poised for a gap-up opening with GIFT Nifty up 0.29%. Wall Street's overnight rally, mixed Asian markets, and rising commodity prices set the tone. The rupee shows marginal strength against the USD. FIIs and DIIs were net buyers in the previous session. Key earnings announcements, including Adani Enterprises and Adani Ports & SEZ, will be in focus.
*this image is generated using AI for illustrative purposes only.
As traders prepare for the opening bell on May 2, 2025, a mix of global and domestic factors are set to influence market sentiment. Let's dive into the key trends and events shaping today's session.
GIFT Nifty Update
The GIFT Nifty futures trading on the NSE IX are indicating a positive start, with the index up 0.29% or 71.00 points at 24,437.50. This suggests a likely gap-up opening for the domestic indices.
US Markets
Overnight, Wall Street witnessed a robust rally. The Dow Jones Industrial Average futures are up 0.84% or 342.70 points at 41,095.50, while the S&P 500 E-mini futures gained 0.62% to reach 5,658.25.
Asian Markets
Asian markets are showing mixed trends in early trade, with investors closely watching global cues and corporate earnings.
Commodity Trends
| Commodity | Price | Change |
|---|---|---|
| Gold futures | $3,255.50/oz | +1.03% |
| WTI Crude | $59.78/barrel | +0.91% |
| Natural Gas | $3.46/MMBtu | -0.46% |
Currency Updates
The US Dollar Index is showing slight weakness against major currencies. The USD/INR pair is trading at 84.49, down 0.08%, indicating a marginal strengthening of the rupee.
FII/DII Activity
| Investor Type | Net Activity |
|---|---|
| FIIs | +₹50.57 crore |
| DIIs | +₹1,792.15 crore |
Foreign Institutional Investors (FIIs) were net buyers on April 30, 2025, purchasing shares worth ₹50.57 crore. Domestic Institutional Investors (DIIs) also remained bullish, with net buying of ₹1,792.15 crore.
Key Corporate Actions
Several companies are scheduled to announce their quarterly results today, including:
- Adani Enterprises
- Adani Ports & SEZ
- Home First Finance
- SIS
Investors will be closely watching these announcements for cues on corporate performance and economic health.
Conclusion
As the markets open, traders will be balancing these various factors, from global market trends to domestic corporate actions, to navigate the day's trading session.
