Trade Setup: Global Cues Mixed as Markets Eye Key Results
By ScanX News Team
GIFT Nifty indicates a flat to slightly negative opening as global markets present a mixed picture. US futures are trading lower, while Asian markets show mixed trends. Crude oil prices have dropped significantly, with WTI down 3.77%. Gold continues its bullish run, up 0.80%. The rupee shows slight strength against the dollar. FIIs and DIIs were net buyers on May 2. Key earnings reports, including Mahindra & Mahindra and Indian Hotels Company, are expected to influence market sentiment.
*this image is generated using AI for illustrative purposes only.
Introduction
As traders prepare for the opening bell, global markets present a mixed picture, setting a cautious tone for the day ahead. Key earnings reports and economic data releases are poised to influence market sentiment.
GIFT Nifty Update
GIFT Nifty futures were trading at 24,520.00, down 0.08% or 19.50 points from the previous close, indicating a flat to slightly negative start for the domestic indices.
US Markets
Overnight, US markets closed lower, with the Dow Jones futures currently down 0.65% at 41,047.50. The S&P 500 E-mini futures are also trading 0.70% lower at 5,669.00, reflecting some risk-off sentiment in the world's largest economy.
Asian Markets
Asian markets are showing mixed trends in early trade, as investors digest global cues and await key economic indicators from the region.
Commodity Trends
In the commodities space, crude oil prices have seen a significant drop, with WTI crude trading at $56.09 per barrel, down 3.77%. Brent crude prices are likely following a similar trend. Gold continues its bullish run, with futures up 0.80% at $3,269.40 per ounce. Silver futures are trading slightly lower at $32.19 per ounce, down 0.21%.
Currency Updates
The USD/INR pair was last seen at 84.36, showing a slight strengthening of the rupee against the dollar. The EUR/USD pair is trading at 1.1340, up 0.32%.
FII/DII Activity
Foreign Institutional Investors (FIIs) were net buyers on May 2, 2025, purchasing shares worth ₹2,769.81 crore. Domestic Institutional Investors (DIIs) also remained positive, with net buying of ₹3,290.49 crore.
Key Global Events
Investors will be closely watching several quarterly results scheduled for today, including major companies like Mahindra & Mahindra, Indian Hotels Company, and DCM Shriram. These results could provide insights into various sectors of the economy and influence market direction.
Conclusion
As the market opens, traders will be navigating a landscape of mixed global cues, significant commodity price movements, and a slew of corporate earnings. The flat GIFT Nifty indication suggests a cautious start, with individual stock movements likely to be driven by company-specific news and broader economic factors.
