Flat Opening Expected on Dalal Street After Overnight Profit Booking on Wall Street; BSE to Announce Q4 Today
Pre-Market Update: On Tuesday, May 6, the Indian markets are expected to open on a cautious note, as indicated by Gift Nifty. As of 07:40 am, Gift Nifty hovered near the 24,562 mark, showing a premium of about 1 point over the previous close of Nifty futures.
The muted opening of the Indian markets can be attributed to the profit booking witnessed on Wall Street overnight. The S&P 500 and the Dow Jones declined in Monday’s trade, snapping their 9-day winning streak, while the Nasdaq also ended lower.
Looking ahead, the Indian market will seek fresh catalysts to sustain its upward momentum—primarily in the form of corporate earnings and institutional flows.
Godrej Consumer Products, Bank of Baroda, CG Power and Industrial Solutions, BSE Limited, Hindustan Petroleum Corporation, and Polycab India will announce their Q4 earnings today.
Talking about institutional inflows, it has been strong in recent times.
On May 05, Foreign Institutional Investors (FIIs) were net buyers, purchasing ₹497.79 crore worth of shares. Domestic Institutional Investors (DIIs) purchased shares worth ₹2,788.66 crore during the same period.
FIIs remain net buyers for the last thirteen trading sessions, infusing optimism in the Indian stock market, while DIIs are following the same trend since the last six trading sessions.
On Monday, the Indian stock market closed on a positive note, with the Nifty 50 index finishing above the 24,400 mark. The Sensex advanced by 294.85 points (0.37%) to end at 80,796.84, while the Nifty 50 rose by 114.45 points (0.47%) to settle at 24,461.15.
Asian markets remained largely unchanged as several regional exchanges were shut due to public holidays.
U.S. markets closed in the red on Monday as investors reacted to President Donald Trump’s recent tariff announcement and all eyes will now turn to the biggest event of this week: FOMC May meeting which concludes this Wednesday, May 7, 2025.
The Dow Jones Industrial Average slipped by 98.60 points (0.24%) to end at 41,218.83. The S&P 500 dropped 36.29 points (0.64%) to settle at 5,650.38, while the Nasdaq Composite declined 133.49 points (0.74%) to close at 17,844.24.
Berkshire Hathaway's Class B shares tumbled 5.1% following the news that Warren Buffett will step down as CEO.
Gold climbed to its highest level in a week, driven by growing investor demand for safe-haven assets amid uncertainty surrounding U.S. President Trump's proposed tariffs. Spot gold hovered around $3,330.16, showing little change.
Oil prices found some stability following a sharp drop to four-year lows in the previous session. Brent crude gained 1% to trade at $60.83 per barrel, and US West Texas Intermediate (WTI) advanced 0.98% to $57.69. Both benchmarks had previously closed at levels not seen since February 2021.
Disclaimer: The article is for informational purposes only and not investment advice.
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