Indian stock market: The domestic equity market benchmark indices, Sensex and Nifty 50, are expected to open on a flat note on Friday, as indicated by Gift Nifty, despite upbeat global market cues.
Asian markets rallied, while the US stock market ended higher overnight, with the Dow Jones and S&P 500 posting their eighth straight session of gains.
The Indian stock market was closed on Thursday, 1 May 2025, in observance of Maharashtra Day.
On Wednesday, the Indian stock market ended with minor losses, with the Nifty 50 holding the 24,300 level.
The Sensex fell 46.14 points, or 0.06%, to close at 80,242.24, while the Nifty 50 settled 1.75 points, or 0.01%, lower at 24,334.20.
“Nifty 50 index is currently in a consolidation phase, facing resistance near the 24,400 mark. However, rotational buying in heavyweight stocks across sectors is helping to cushion the downside. Looking ahead, markets will take cues from global developments on Friday, particularly US GDP data and corporate earnings. In this context, we continue to recommend a stock-specific trading approach, with a focus on buy-side opportunities,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.
Here are key global market cues for Sensex today:
Asian Markets
Asian markets traded higher on Friday, following overnight rally on Wall Street, and after China said that it was evaluating trade talks with the US.
Japan’s Nikkei 225 gained 1.24%, while the Topix index rose 0.67%. South Korea’s Kospi index was flat and the Kosdaq added 0.60%. Hong Kong’s Hang Seng Index futures indicated a weaker open.
Gift Nifty Today
Gift Nifty was trading around 24,425 level, a premium of nearly 7 points from the Nifty futures’ previous close, indicating a flat start for the Indian stock market indices.
Wall Street
US stock market ended higher on Thursday after strong results from megacaps Microsoft and Meta eased concerns about artificial intelligence spending.
The Dow Jones Industrial Average gained 83.60 points, or 0.21%, to 40,752.96, while the S&P 500 rose 35.08 points, or 0.63%, to 5,604.14. The Nasdaq Composite closed 264.40 points, or 1.52%, higher at 17,710.74.
Microsoft share price surged 7.6%, Meta Platforms stock price rallied 4.2%, Amazon.com shares fell nearly 4% and Apple stock price rose 0.4%.
Eli Lilly shares tumbled 11.7%, McDonald’s share price declined 1.9%, and Qualcomm stock price plunged 8.9%.
US-China Trade Talks
China’s commerce ministry said the United States has repeatedly expressed its willingness to negotiate on tariffs and that Beijing’s door is open for talks, Reuters reported. The US should be prepared to take action in correcting “erroneous” practices and cancel unilateral tariffs, the commerce ministry said.
US Manufacturing PMI
US manufacturing contracted further in April. The Institute for Supply Management (ISM) said that its manufacturing PMI dropped to a five-month low of 48.7 last month from 49.0 in March. Economists polled by Reuters had forecast the PMI declining to 48.
US Jobless Claims
The number of Americans filing new applications for unemployment benefits increased more than expected last week. Initial claims for state unemployment benefits jumped 18,000 a seasonally adjusted 241,000 for the week ended April 26. Economists polled by Reuters had forecast 224,000 claims for the latest week.
Gold Prices
Gold prices were poised for their worst weekly performance in more than two months as receding trade tensions tempered safe-haven demand. Spot gold price was steady at $3,240.34 an ounce. Gold has lost more than 2% so far this week, the steepest weekly fall since late February, Reuters reported. US gold futures rose 0.8% to $3,248.80.
US Dollar
The US dollar headed for a third-straight weekly gain as signs of progress in Washington’s talks with some of its trading partner. The dollar index was little changed, poised for a 0.5% gain in a week. The greenback traded at 145.53 yen, the euro was little changed at $1.1290, near a three-week low.
(With inputs from Reuters)
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