Nifty Poised for Strong Start: US Trade Court Blocks Trump’s Tariffs; IIP Growth Slows in India, Bajaj Auto in Focus Ahead of Q4 Results
On Thursday, May 29, Indian equity benchmarks are likely to open strong. As of 7:32 am, the GIFT Nifty was trading near the 24,843 mark, up by 88 points from the previous close.
Despite the negative close in the last trading session, U.S. futures surged earlier on Thursday. Asian markets moved upward, and the U.S. futures surged after the trade court halted the implementation of tariffs proposed by President Donald Trump.
Volatility is likely to be the hallmark in the stock market today on the eve of the monthly F&O expiry.
India's industrial output, as reflected by the Index of Industrial Production (IIP), registered a growth of 2.7% in April 2025, marking a slowdown compared to the 5.2% expansion seen in April 2024. This moderation was primarily driven by weaker performance in the manufacturing, mining, and electricity sectors. Meanwhile, the National Statistics Office (NSO) revised the IIP growth for March 2025 upward to 3.9%, from its previous estimate of 3% announced last month.
With a strong start, the domestic market is likely to witness stock-specific action as Q4 earnings unfold. Several prominent Indian companies are set to announce their fourth-quarter results on Thursday.
Bajaj Auto, Mazagon Dock Shipbuilders, Samvardhana Motherson International, Suzlon Energy, Alkem Laboratories, Prestige Estates Projects, SJVN, Ipca Laboratories, NBCC (India), Jubilant Agri and Consumer Products, Ola Electric Mobility, Wockhardt and Amara Raja Energy & Mobility are scheduled to announce their Q4 earnings today.
On May 28, Foreign Institutional Investors (FIIs) were net buyers, having bought equities worth ₹4,662.92 crore. Domestic Institutional Investors (DIIs), on the other hand, bought shares totalling ₹7,911.99 crore during the same session
On May 28, Indian equity markets continued their downward trend, with the Nifty 50 falling by 69.05 points (0.28%) to end at 24,757.15, while the Sensex declined by 239.31 points (0.29%) to settle at 81,312.32. Despite global markets trading on a positive note, domestic indices remained under pressure, mainly due to a sell-off in ITC.
Asian stock markets higher on Thursday after a U.S. trade court halted the implementation of President Donald Trump's proposed "Liberation Day" tariffs.
U.S. markets closed in the red on Wednesday as investors weighed the latest Federal Reserve meeting minutes. The Dow Jones Industrial Average slipped by 244.95 points (0.58%) to settle at 42,098.70. The S&P 500 lost 32.99 points (0.56%) to end at 5,888.55, while the Nasdaq Composite declined by 98.23 points (0.51%), finishing the day at 19,100.94. Despite the cautious mood, U.S. stock futures showed a rebound early Thursday.
A U.S. trade court has halted the implementation of tariffs proposed by President Donald Trump, determining that he exceeded his legal powers. The Court of International Trade, based in Manhattan, ruled that the authority to regulate international trade lies solely with Congress as per the U.S. Constitution. The court emphasised that this authority cannot be bypassed by invoking presidential emergency powers intended to protect the national economy.
The US dollar saw a strong surge after a court decision halted President Donald Trump's proposed Liberation Day import tariffs. The dollar index, which tracks the value of the US currency against a basket of six major global currencies, climbed past the 100 mark for the first time in a week, last trading at 100.40.
Crude oil prices moved higher following a US court ruling that halted the implementation of Trump-era tariffs. Brent crude futures increased by 1.20% to $65.68 per barrel, and US WTI crude advanced 1.29% to reach $62.64 per barrel.
Gold prices declined to their lowest level since May 20, influenced by a stronger US dollar and improved market risk appetite. Spot gold slipped by 0.5% to $3,262.99 per ounce, while US gold futures were down 1.1%, settling at $3,259.50.
Disclaimer: The article is for informational purposes only and not investment advice.
For android only