Indian stock markets are likely to open lower today, May 7, 2025, as indicated by GIFT Nifty.
GIFT Nifty Signals Negative Start: GIFT Nifty on the NSE IX traded lower by 108.50 points, or 0.44 per cent, at 24,306, signaling a negative start for Dalal Street on Wednesday. GIFT Nifty, an early indicator of India's equity benchmarks, is indicating a potential opening in the green for the Indian market, rebounding from the lows of Tuesday. The Gift Nifty was trading around 22,665 level, a premium of nearly 401 points from the Nifty futures' previous close, indicating a gap-up start for the Indian stock market indices.
Market Performance Yesterday: Indian equity benchmarks ended on a negative note on Tuesday, weighed down by broad-based selling across sectors. The BSE Sensex declined by 155.77 points, or 0.19 per cent, to close at 80,641.07, while the NSE Nifty50 dropped 81.55 points, or 0.33 per cent, to end at 24,379.60.
Global Market Cues: U.S. stocks were lower for a second straight session on Tuesday. The Dow was down 0.95%, the S&P 500 dipped 0.77%, and the Nasdaq fell 0.87%. Asian shares presented a mixed picture. Equity futures pointed to gains in Hong Kong, with small declines in Tokyo and Sydney.
Key Factors Influencing the Market: * US Trade Deal Progress: Progress on the US trade deal could provide near-term support to the markets. * Geopolitical Concerns: Ongoing geopolitical concerns are likely to keep investor sentiment cautious in the near term. * Earnings Season: The ongoing earnings season is another factor influencing investor sentiment. * India VIX: India VIX, a measure of market fear, rose 3% to settle at 19.00 levels.
FII and DII Activity: Foreign portfolio investors net bought shares worth Rs 3,794 crore on Tuesday. Domestic Institutional Investors (DIIs), meanwhile, were net sellers at Rs 1,398 crore.
Technical View: From a technical perspective, Nifty had confirmed a structural breakout last week by surpassing the February–March swing highs in the 23800–23900 range. This breakout zone, which earlier acted as resistance, has now turned into a strong support area.
