Trade Setup for Today: Global Cues Mixed as Markets Eye Key Results
By ScanX News Team
GIFT Nifty futures down 0.13%, indicating a muted start for Indian markets. US futures slightly lower, Asian markets mixed. Commodities show strength with gold up 2.14% and crude oil rising 1.40%. USD/INR at 84.34, up 0.11%. FIIs and DIIs were net buyers. Key earnings from Mahindra & Mahindra and Indian Hotels Company to watch.
*this image is generated using AI for illustrative purposes only.
Introduction
As traders prepare for the opening bell on May 6, 2025, global markets are presenting a mixed picture, with key earnings and economic data in focus.
GIFT Nifty Update
GIFT Nifty futures were trading at 24,564.50, down 0.13% or 32.50 points from the previous close, indicating a muted start for the domestic markets.
US Markets
Overnight, Wall Street saw a slight pullback. The Dow Jones futures were down 0.10% at 41,178.00, suggesting some caution among investors ahead of important economic releases.
Asian Markets
Asian markets are showing mixed trends in early trade, as investors digest global cues and await regional economic indicators.
Commodity Trends
In the commodities space:
- Crude oil (WTI) rose 1.40% to $57.93 per barrel
- Gold futures surged 2.14% to $3,393.50 per ounce
- Silver futures jumped 2.47% to $33.28 per ounce
- Copper edged lower by 0.06% to $4.20 per pound
Currency Updates
The USD/INR pair was trading at 84.34, up 0.11% from its previous close, indicating a slight weakening of the rupee against the dollar.
FII/DII Activity
| Category | Buy (₹ Cr) | Sell (₹ Cr) | Net (₹ Cr) |
|---|---|---|---|
| FII/FPI | 9,365.89 | 8,868.10 | 497.79 |
| DII | 13,917.99 | 11,129.33 | 2,788.66 |
Foreign Institutional Investors (FIIs) were net buyers, while Domestic Institutional Investors (DIIs) showed strong buying interest, potentially supporting market sentiment.
Key Events to Watch
Several major companies are scheduled to announce their quarterly results today, including Mahindra & Mahindra , Indian Hotels Company , and CCL Products . These earnings reports could influence sector-specific movements.
Conclusion
As the markets open, traders will be closely watching global cues, commodity trends, and the slew of corporate earnings for directional cues. The mixed global sentiment and upcoming economic data releases are likely to keep volatility in check as the session progresses.
