The GIFT Nifty is hinting at a cautious yet positive start, trading at 24,414 in the early hours, as investors prepare for a day filled with earnings reports and market updates. Let’s take a look at the global actions at this hour
Indian stock markets saw a muted end to the trading session on April 30, as both key indices closed marginally lower. The Sensex dropped by 46 points, settling at 80,242, while the Nifty inched down by just 2 points to close at 24,334.
Key global and domestic cues to know on May 2, 2025
India-Pak tension after Pahalgam attack
As the country marks the tenth day since the tragic Pahalgam terror attack, which left 26 people dead, including several tourists, India is stepping up its response to the devastation. While the initial measures such as downgrading diplomatic relations, suspending the Indus Waters Treaty, and expelling Pakistani military officials have already been taken, the government is now considering further steps. Prime Minister Modi, who convened multiple high-level cabinet meetings on Wednesday, has granted the Indian Armed Forces full operational freedom to counter any future threats.
Asian markets
Asian markets kicked off the day on a mixed footing. Japan led the gains, with the Nikkei 225 rising nearly 1% and the broader Topix also trading in the green. Meanwhile, Australia’s ASX 200 slipped slightly in early trade, and South Korea’s Kospi was down 0.5%, with the smaller Kosdaq staying flat.
US market
Wall Street wrapped up a higher with all three major indices in the green on May 1. The Nasdaq led the rally, jumping 1.52% to 17,710.74 and wiping out all its losses since April 2. The S&P 500 followed with a 0.63% gain, closing at 5,604.14. Meanwhile, the Dow Jones edged up 83.60 points to settle at 40,752.96.
US dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was down 0.03% at 100.24 Friday morning. The index evaluates the strength or weakness of the US dollar in comparison to major currencies. The basket contains currencies such as the British Pound, Euro, Swedish Krona, Japanese Yen, Swiss Franc, etc. The rupee appreciated 0.90% to close at 84.49 to the dollar on April 30.
Crude oil
Crude oil prices ticked higher in early Friday trade, with both global benchmarks posting modest gains. West Texas Intermediate (WTI) rose 0.54% to $59.58 per barrel, while Brent crude was up 0.55%, trading at $62.47.
FII, DII
Foreign investors continued their buying spree on Wednesday, April 30, making it the eleventh consecutive day of inflows into Indian equities. They picked up stocks worth Rs 50 crore. This marks a shift to net buying for April, after foreign institutional investors (FIIs) had offloaded nearly Rs 35,000 crore in previous months. Domestic institutional investors (DIIs) also joined the bullish trend, purchasing shares worth Rs 1,792 crore, according to provisional data.
Gold rate today
Gold prices fell to a two-week low on Thursday, May 1. As per Goodreturns, 10 grams of 24-carat gold rate today is Rs 95,720, while 22-carat gold costs Rs 87,740. For those preferring 18-carat gold, the price is Rs 71,790 for the same weight.