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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:

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

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.

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.

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.

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%).

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.

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

Business Desk