Asian markets higher, Gift Nifty premium, weaker dollar boost gold prices, and US PMI data signals caution ahead of RBI policy decision.
June-3, 2025: The Indian stock market is poised for a positive start on Tuesday, tracking gains in global equities and optimism over trade talks. Asian markets rose overnight, and the Gift Nifty is indicating a premium of nearly 40 points from the previous close of Nifty futures, pointing to a firm opening for the domestic benchmarks.
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On Monday, the Indian markets ended the volatile session with minor losses. The Sensex fell 77 points to 81,373, while the Nifty 50 lost 34 points to close at 24,716.
“Despite weak global cues, India’s strong domestic outlook and possible RBI repo rate cuts could limit the downside,” said Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services.
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Global Market Highlights
- Asian Markets: Nikkei 225 gained 0.36% while the Topix remained flat. Hong Kong’s Hang Seng index futures hinted at a muted start. South Korean markets were shut for elections.
- US Markets: Wall Street closed higher on Monday as trade optimism lifted sentiment. The Dow gained 35 points, S&P 500 rose 24 points, and the Nasdaq added 128 points. Meta gained 3.6%, while Tesla fell 1.1%.
- US PMI: US manufacturing PMI dropped to 48.5 in May, indicating contraction for the third straight month.
- US Dollar: The dollar slipped to a six-week low, trading at 142.71 yen and steady against the euro at $1.1446.
- Gold Prices: Spot gold rose 0.1% to $3,381.13 per ounce, reaching a near four-week high on safe-haven demand.
- Crude Oil Prices: Brent crude climbed 0.8% to $65.15, while WTI rose 0.91% to $63.09, following a nearly 3% surge in the previous session.
Investors are also watching domestic cues, including RBI’s upcoming MPC meeting and key macroeconomic data releases.
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Indian stock market, Sensex, Nifty 50, Gift Nifty, Asian markets, US PMI, gold prices, crude oil prices, global market cues, RBI policy, USD-INR, trade optimism, market outlook, stock market opening