Trade Setup: Global Cues and Commodity Trends to Shape Today's Session
By ScanX News Team
Indian markets are poised for a positive opening with GIFT Nifty up 0.53% at 24,355.00. US markets closed higher, while Asian markets show mixed trends. Crude oil prices rose 0.80% to $59.56/barrel, while gold dipped 0.97%. The USD/INR pair is at 84.32, up 0.08%. FIIs were net buyers (₹3,794.52 crore) on May 6, while DIIs were net sellers (₹1,397.68 crore). Key earnings reports from Polycab India, Godrej Consumer Products, and HPCL are expected to influence sector-specific movements.
*this image is generated using AI for illustrative purposes only.
Market Overview
As traders prepare for the opening bell on May 7, 2025, global cues and commodity trends are set to influence market sentiment. The GIFT Nifty indicates a positive start, while mixed signals from international markets provide a nuanced backdrop for the day's trading.
GIFT Nifty Update
The GIFT Nifty is trading at 24,355.00, up 0.53% or 128.50 points from the previous close. This suggests a likely positive opening for the broader market.
US Markets
Overnight, Wall Street saw gains with the Dow Futures closing 0.51% higher at 41,038.00. This positive sentiment in the US markets could provide some support to domestic equities.
Asian Markets
Asian markets are showing mixed trends, with investors closely watching regional developments and global economic indicators.
Commodity Trends
Crude oil prices have seen an uptick, with WTI crude trading at $59.56 per barrel, up 0.80%. Gold futures are trading lower at $3,389.50 per ounce, down 0.97%. The movements in these key commodities could impact related sectors.
| Commodity | Price (USD) | Change (%) |
|---|---|---|
| Crude Oil | 59.56 | +0.80 |
| Gold | 3,389.50 | -0.97 |
| Silver | 33.15 | -0.69 |
| Natural Gas | 3.55 | +2.54 |
Currency Updates
The USD/INR pair is trading at 84.32, showing a slight increase of 0.08%. This minor fluctuation in the currency market will be on traders' radar.
FII/DII Activity
Foreign Institutional Investors (FIIs) were net buyers on May 6, 2025, purchasing shares worth ₹3,794.52 crore. Domestic Institutional Investors (DIIs) were net sellers, offloading shares worth ₹1,397.68 crore. This divergence in institutional activity could influence market dynamics.
| Investor Type | Buy (₹ Cr) | Sell (₹ Cr) | Net (₹ Cr) |
|---|---|---|---|
| FII | 13,471.35 | 9,676.83 | +3,794.52 |
| DII | 10,963.04 | 12,360.72 | -1,397.68 |
Key Events to Watch
Several companies are scheduled to announce their quarterly results today, including Polycab India, Godrej Consumer Products, and Hindustan Petroleum Corporation. These earnings reports could drive sector-specific movements.
As the market opens, traders will be weighing these various factors to gauge the overall sentiment and potential trading opportunities for the day.
