Despite strong global cues, Indian markets may open flat today as indicated by Gift Nifty. Here are the top developments overnight that investors should track.
2 May 2025 | 06:30 AM IST The Indian stock market is set for a muted start on Friday, May 2, with Gift Nifty trading around 24,425, just 7 points above Nifty’s previous close. This flat setup comes despite global optimism, a Wall Street rally, and easing US-China trade tensions.
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🔑 Top 8 Market Movers Overnight
1. Gift Nifty Signals Flat Open
Gift Nifty stood at 24,425 — signaling a nearly unchanged opening for Nifty 50.
2. Wall Street Rally Continues
US indices extended their winning streak:
- Dow Jones: +83.60 pts (40,752.96)
- S&P 500: +35.08 pts (5,604.14)
- Nasdaq: +264.40 pts (17,710.74)
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Microsoft (+7.6%) and Meta (+4.2%) led gains, even as Amazon and Qualcomm saw notable declines.
3. Asian Markets in the Green
- Nikkei 225: +1.24%
- Topix: +0.67%
- Kosdaq: +0.60%
- Hang Seng Futures: Slightly negative
4. US-China Trade Talks Back On Table
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China expressed willingness to resume tariff negotiations. A positive signal for global trade sentiment, which may support emerging market equities.
5. Gold Prices Drop for the Week
- Spot Gold: $3,240.34/oz (steady)
- US Gold Futures: $3,248.80/oz (+0.8%) Gold faces its steepest weekly fall since February, down over 2%, as risk appetite improves.
6. US Manufacturing PMI Slips
ISM’s April PMI dropped to 48.7, lowest in five months, indicating continued manufacturing contraction.
7. US Jobless Claims Rise Sharply
Jobless claims hit 241,000 last week, well above the expected 224,000, raising concerns about labor market cooling.
8. US Dollar Gains Ground
The Dollar Index is poised for a third straight weekly gain (up 0.5%), with:
- USD/JPY: 145.53
- EUR/USD: $1.1290
📊 Previous Market Recap (April 30)
- Sensex: ▼46 pts at 80,242.24
- Nifty 50: ▼1.75 pts at 24,334.20
Markets saw minor losses before the Maharashtra Day holiday closure.
🧠 Expert Take
“Nifty is in a consolidation phase, facing resistance near 24,400. Stock-specific action is key as global cues and earnings data drive sentiment,” said Ajit Mishra, SVP – Research, Religare Broking.
🏁 Conclusion
Despite strong global tailwinds, Indian equities may tread cautiously today. Traders should adopt a stock-specific strategy, especially in the lead-up to US payroll data and India Inc.’s earnings season.
🏷️ Tags
Indian Stock Market Today, Gift Nifty, US-China Trade, Gold Prices, Wall Street Rally, Asian Markets, Jobless Claims, Sensex Today, Nifty 50, Global Cues