Indian Stock Market Today: Key Overnight Cues – Gift Nifty, Wall Street Gains, US Jobs Data, Crude Prices

Markets likely to open higher on Wednesday after positive global cues; Gift Nifty indicates strong start, tech rally on Wall Street, and stable Asian markets lend support.

June 4, 2025 | Indian stock market indices — Sensex and Nifty 50 — are expected to open on a positive note on Wednesday, tracking upbeat global cues and a modest premium on Gift Nifty. This comes after a sharp sell-off on Tuesday amid concerns over overvalued equities and persistent foreign capital outflows.

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Here are 8 key global cues that could influence the Indian markets today:

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1. Gift Nifty Indicates Positive Opening

Gift Nifty was trading around 24,730, up 55 points from the Nifty futures’ previous close, hinting at a higher opening for domestic indices.

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2. Wall Street Closes Higher

US markets rallied overnight, led by strong buying in technology stocks.

• Dow Jones rose 214.16 pts (0.51%) to 42,519.64
• S&P 500 gained 34.43 pts (0.58%) to 5,970.37
• Nasdaq Composite jumped 156.34 pts (0.81%) to 19,398.96

Key performers included Nvidia (+2.9%), Broadcom (+3.2%), Pinterest (+3.8%), and Tesla (+0.46%).

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3. Asian Markets Rally

Asian equities opened higher, tracking Wall Street gains.

• Nikkei 225: +0.83%
• Topix: +0.47%
• Kospi: +1.57% (10-month high)
• Kosdaq: +1.06%
• Hang Seng: Slightly weaker in early trade

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4. US Jobs Data Shows Mixed Signals

The JOLTS report showed job openings rose by 191,000 to 7.391 million in April, beating expectations. However, layoffs also increased, signaling caution in labor markets.

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5. US Factory Orders Slump

New orders for US-made goods fell 3.7% in April, following a 3.4% rise in March. This indicates some slowdown in manufacturing demand.

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6. Japan Services PMI Slips

Japan’s service activity cooled in May. The au Jibun Bank Services PMI dropped to 51.0 from 52.4 in April, showing signs of reduced domestic demand.

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7. Dollar Softens

The US Dollar Index was steady at 99.159, while the greenback edged down against the yen (143.82, -0.09%) and the euro gained to $1.1385 (+0.13%).

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8. Crude Oil Prices Edge Lower

After two sessions of gains, oil prices dipped slightly:

• Brent: -0.17% to $65.52/barrel
• WTI: -0.20% to $63.28/barrel

Crude remains volatile due to geopolitical uncertainty and mixed demand signals.

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Tuesday Recap

Despite global positivity, Indian markets ended lower on Tuesday:

• Sensex fell 636.24 points (0.78%) to 80,737.51
• Nifty 50 declined 174.10 points (0.70%) to 24,542.50

Mehta Equities’ Prashanth Tapse attributed the fall to valuation concerns and lack of resolution in global trade and geopolitical tensions.

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Indian stock market, Sensex today, Nifty 50, Gift Nifty, US stock market, crude oil prices, US jobs data, factory orders, Asian markets, global market cues