Global Markets Outlook
GIFT NIFTY Live Today: US Markets Trade in Green, S&P 500 Gains 0.80%; GIFT Nifty up. On May 24, the US markets gained ground for the second day in a row, the day after Nvidia’s impressive results caused the benchmarks to reach all-time highs.
The Nasdaq Composite jumped more than a percent to 16,921.09 at 8:45 p.m. Indian Standard Time. The S&P 500 was up 0.80 percent at 5,309.46. After losing the previous day, the Dow Jones Industrial Average gained 0.33 percent to close at 39,195.43.
“American consumers have tempered inflation expectations in late May, which bodes well for prospects of Federal Reserve’s rate cuts,” according to a Bloomberg article. This occurs in the wake of the Federal Reserve’s meeting minutes, which were made public earlier this week and which reaffirmed the “higher for longer” thesis and expressed concerns about inflation.
Following earlier in the day’s record all-time highs for the key Indian indices, the GIFT Nifty was up 0.16 percent at 23,075.50.
Indian indices rallied for the second day in a row, with the Nifty crossing the 23,000 mark to reach a new high of 23,026.40 during intraday trade. The index, however, ended flat-to-negative at 22,957.10. The Sensex also set a new high of 75,636.50 while it ended 0.01 percent lower at 75,410.39.
Major Indices
| Name | LTP | Change | Change% |
|---|---|---|---|
| GIFT Nifty | 23,031.00 | -8.50 | -0.04 |
| Dow Jones CFD | 39,069.59 | 4.33 | 0.01 |
| Nasdaq CFD | 16,920.79 | 184.76 | 1.10 |
| S&P 500 CFD | 5,304.72 | 36.88 | 0.70 |
| Hang Seng | 18,608.94 | -259.77 | -1.38 |
| Nikkei 225 | 38,646.11 | -457.11 | -1.17 |
| KOSPI | 2,687.60 | -34.21 | -1.26 |
Indian Indices
The stock indices data for May 24, 2024, at 4:10 PM:
| Name | LTP | Change | Change% |
|---|---|---|---|
| SENSEX | 75410.39 | -7.65 | -0.01 |
| NIFTY 50 | 22957.10 | -10.55 | -0.05 |
| NIFTY BANK | 48971.65 | 203.05 | 0.42 |
| NIFTY IT | 33824.30 | -218.55 | -0.64 |
| India VIX | 21.71 | 0.33 | 1.54 |
| NIFTY Midcap 100 | 52424.45 | 5.90 | 0.01 |
| NIFTY Smallcap 100 | 16883.00 | -28.90 | -0.17 |
- LTP: Last Traded Price
- Change: Absolute change in points
- Change%: Percentage change
Commodities
The provided data:
| Name | LTP | Change | Change% |
|---|---|---|---|
| Gold USD CFD | 2,337.68 | 7.22 | 0.31 |
| Crude USD CFD | 83.72 | -0.04 | -0.05 |
| Brent Crude USD CFD | 89.29 | 0.18 | 0.21 |
| GOLD MCX | 71,279.00 | -298.00 | -0.42 |
| CRUDE MCX | 6,469.00 | -2.00 | -0.03 |
| COPPER MCX | 883.90 | 0.85 | 0.10 |
| NATURAL GAS MCX | 212.80 | -10.70 | -4.79 |
Currencies
| Name | Price | Change | Change% |
|---|---|---|---|
| Dollar Index CFD | 104.75 | -0.31 | -0.30 |
| USDINR | 83.10 | -0.18 | -0.22 |
| EURINR | 90.08 | 0.07 | 0.08 |
| GBPINR | 105.82 | 0.05 | 0.05 |
| USDJPY | 156.99 | 0.06 | 0.04 |
| EURUSD | 1.08 | 0.00 | 0.30 |
| GBPUSD | 1.27 | – | 0.00 |
ADR
| Company | Close Price ($) | Chg | Change% |
|---|---|---|---|
| Axis Bank ADR | 71.60 | 0.80 | 1.13 |
| Dr Reddy ADR | 69.53 | -0.08 | -0.11 |
| HDFC Bank ADR | 58.00 | 1.23 | 2.17 |
| ICICI Bank ADR | 27.32 | 0.23 | 0.85 |
| Infosys ADR | 17.36 | -0.04 | -0.23 |
| TATA MOTOR ADR | 25.14 | 0.00 | 0.00 |
| Wipro ADR | 5.45 | -0.01 | -0.18 |
Weak global cues caused the European indices to trade in a muddled manner. The CAC slightly decreased by 0.04 percent to 8,099.48, while the FTSE dipped by 0.19 percent to 8,323.73. The DAX, at 18,698.78, was up 0.04 percent, but only slightly.
The Asian indices had negative trading earlier in the day due to impending US inflationary pressures. The Hang Seng fell 1.38 percent to 18,608.94, while the Nikkei fell 1.17 percent to 38,646.11.
While FIIs and FPIs net sold Rs 944.83 crores, DIIs net bought Rs 2,320.32 crores.
To close the week on a good note, crude recovered from the losses of the previous day and traded 0.82 percent higher at $77.50. Additionally, Brent increased by 0.66 percent to $81.90.
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