Gift Nifty hints at a strong opening as Asian markets rally and US court blocks Trump’s tariffs; Nvidia’s Q1 results add to optimism.
May 29, 2025: The Indian stock market is expected to open higher on Thursday, buoyed by strong global cues after a US federal court blocked President Donald Trump’s proposed tariffs. The upbeat sentiment was further supported by Nvidia’s robust Q1 results.
Also Read: A Gesture of Respect: Radico Khaitan Shelves ‘Trikal’ to Honour India’s Soul
Gift Nifty and Asian Markets
Gift Nifty was trading around 24,813, about 50 points above its previous close, indicating a positive start. Asian markets were also in the green: Japan’s Nikkei 225 jumped 1.18%, the Topix rose 0.79%, and South Korea’s Kospi climbed 0.78%.
US Markets and Trump Tariff Block
Wall Street closed lower on Wednesday, but futures rebounded strongly. The Dow Jones futures rose 1.15%, S&P 500 futures gained 1.44%, and Nasdaq 100 futures surged 1.76% after a US trade court blocked Trump’s sweeping tariffs. The court said only Congress can regulate foreign commerce, curbing presidential emergency powers.
Also Read: India Overtakes Japan to Become World’s Fourth Largest Economy: NITI Aayog
Indian Markets and Outlook
On Wednesday, Indian indices ended lower for the second day in a row, with the Sensex down 239.31 points at 81,312.32 and the Nifty 50 down 73.75 points at 24,752.45. Analysts expect a positive start today, aided by global optimism and fresh cues from the US Federal Reserve meeting minutes.
Nvidia Q1 Results and Global Impact
Nvidia’s Q1 revenue hit $44.1 billion, up 12% from the previous quarter and 69% year-on-year. Shares surged 5% after the closing bell, overshadowing a 0.51% drop during the session.
Also Read: BIG BREAKING! Elon Musk Steps Down from Trump’s Government As Rift With Trump Deepens
Dollar and Commodities
The US dollar rallied, pushing gold prices down to a one-week low of $3,262.99 an ounce. Meanwhile, crude oil prices rose over 1% as optimism returned to markets.
IIP Data and Domestic Outlook
India’s industrial production growth slowed to 2.7% in April 2025 from 5.2% in April 2024, as per the NSO. Despite the dip, global factors are expected to drive the Indian markets higher today.
Conclusion
With global markets upbeat and Gift Nifty indicating gains, Indian equities are poised for a strong session. Traders, however, remain cautious as monthly F&O expiry and US interest rate signals loom.
Tags:
Indian stock market, Gift Nifty, Trump tariffs, Nvidia Q1 results, Sensex, Nifty 50, Asian markets, US Federal Reserve, IIP data, global markets, gold prices, crude oil