Trade Setup for Today: Key Things to Know Before the Opening Bell
GIFT Nifty futures at 23,649.50 indicate a weak opening, down 61.50 points. US markets closed mixed with Dow gaining 0.32% while NASDAQ fell 0.51%. Asian markets show divergent trends with Nikkei down 0.46% but Hang Seng up 0.38%. Crude oil declined 1.56% to $102.75, while gold remained flat. Positive institutional flows continue with FIIs net buying ₹2,813.69 crores and DIIs ₹2,682.12 crores. JSW Steel in focus with major block deals worth ₹3,780 crores. USD/INR stable at 96.34.
*this image is generated using AI for illustrative purposes only.
Global markets are showing mixed signals as traders gear up for another trading session. While Asian markets displayed resilience, commodity prices are experiencing varied movements, and institutional activity continues to shape market sentiment.
GIFT Nifty Update
SGX Nifty futures are trading at 23,649.50, down 61.50 points or 0.26% from the previous close of 23,711.00. This suggests a cautious start to the session, with the index opening in negative territory.
| Metric | Value |
|---|---|
| Current Price | 23,649.50 |
| Change | -61.50 |
| Change % | -0.26% |
| Previous Close | 23,711.00 |
| Day High | 23,732.50 |
| Day Low | 23,632.50 |
US Markets
US markets closed on a mixed note with the Dow Jones showing resilience while tech stocks faced pressure. The Dow Jones Industrial Average gained 159.95 points (0.32%) to close at 49,707.13, demonstrating strength in traditional industrial stocks. However, the NASDAQ Composite declined 134.51 points (0.51%) to 26,111.64, reflecting weakness in technology shares. The E-Mini S&P 500 futures are currently trading at 7,408.00, down 17.75 points (0.24%).
Asian Markets
Asian markets are showing mixed performance in early trading. The Nikkei 225 declined 278.61 points (0.46%) to 60,537.34, while the Hang Seng Index managed to gain 98.22 points (0.38%) to 25,773.41. The FTSE 100 posted strong gains of 128.38 points (1.26%) to 10,323.75.
Commodity Trends
| Commodity | Price (USD) | Change | Change % |
|---|---|---|---|
| Crude Oil | 102.75 | -1.63 | -1.56% |
| Gold Futures | 4,559.90 | +1.90 | +0.04% |
| Silver Futures | 77.20 | -0.25 | -0.32% |
| Natural Gas | 3.02 | 0.00 | 0.00% |
| Copper | 6.27 | -0.05 | -0.73% |
| Platinum | 1,978.00 | +0.60 | +0.03% |
| Palladium | 1,410.00 | -11.00 | -0.77% |
Crude oil prices are under pressure, declining 1.56% to $102.75 per barrel. Gold futures are marginally higher at $4,559.90, while silver futures are down 0.32%. Natural gas remains flat at $3.02.
Currency Updates
The USD/INR pair is holding steady at 96.34, showing no change from the previous session. The EUR/USD is trading at 1.16, down 0.10%.
FII/DII Activity
| Date | FII/FPI Buy (₹ Cr) | FII/FPI Sell (₹ Cr) | FII/FPI Net (₹ Cr) | DII Buy (₹ Cr) | DII Sell (₹ Cr) | DII Net (₹ Cr) |
|---|---|---|---|---|---|---|
| May 18, 2026 | 17,222.18 | 14,408.49 | 2,813.69 | 16,844.94 | 14,162.82 | 2,682.12 |
Both Foreign Institutional Investors and Domestic Institutional Investors were net buyers, with FIIs investing ₹2,813.69 crores and DIIs contributing ₹2,682.12 crores net.
Block Deals
| Company | Seller | Buyer | Shares | Price (₹) |
|---|---|---|---|---|
| JSW Steel | JSW Energy Limited | GQG Partners Emerging Markets Equity Fund | 1,50,00,000 | 1,260.00 |
| JSW Steel | - | SBI Mutual Fund | 1,00,00,000 | 1,260.00 |
Latest Update for JSW Steel
JSW Steel has been in focus following significant block deals and recent developments:
- Citi maintains Sell rating with target price of ₹1,165.00, while Goldman Sachs holds Buy rating at ₹1,500.00, and Morgan Stanley stays Overweight at ₹1,330.00
- The company reported strong Q4 results with consolidated net profit before exceptional items at ₹46.60 billion versus ₹20.00 billion year-on-year
- Revenue increased to ₹512.00 billion with EBITDA margin expanding to 16.87%
- The Board approved amalgamation of BMM Ispat Limited with a share exchange ratio of 1:18
- April crude steel production stood at 21.18 lakh tonnes, down 1% year-on-year
Key Global Events
Markets are closely watching commodity price movements, particularly crude oil's decline, which may impact energy sector stocks. The mixed performance in US markets, with traditional sectors outperforming technology, suggests a rotation in investor preferences.
Conclusion
With GIFT Nifty indicating a slightly negative opening and mixed global cues, traders should remain cautious. The positive institutional flows from both FIIs and DIIs provide some support, while the significant block deals in JSW Steel highlight continued corporate activity. Commodity price movements, particularly the decline in crude oil, will be key factors to watch during the session.
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