Market Overview: May 18

Market Overview: May 18

Indian Markets Outlook The benchmark Sensex and Nifty indices are poised to open slightly in the green today, influenced by GIFT Nifty trends, which showed a 46-point gain overnight. On May 17, the Indian markets climbed for the second straight session, with the Nifty closing above 22,450 and broader markets also seeing gains. The BSE MidCap hit a new record high, while the BSE SmallCap was just 100 points shy of its all-time peak. At close, the Sensex stood at 73,916 points, up 0.34%, and the Nifty at 22,464 points, up 0.27%. The BSE MidCap surged by 1.2%, and the SmallCap index ended 1.4% higher.

Global Market Highlights

GIFT Nifty GIFT Nifty ended 46 points higher. Nifty futures on NSEIX closed at 22,551, up 0.2% at 2:45 AM IST.

Asian Markets Asian markets were closed today.

US Equities US markets closed mixed. The Dow Jones gained 0.3%, and the S&P 500 rose by 0.1%, while the tech-heavy NASDAQ Composite ended slightly in the red. For the week, the Dow was up 1.2%, the S&P 500 climbed 1.5%, and the Nasdaq rose 2.1%.

US Bond Yields US 10-year Treasury yields increased by four basis points to 4.42% on May 17, while the US 2-year bond yield rose by three basis points to 4.82%.

Dollar Index The dollar index, measuring the US currency’s strength against major currencies, was trading at 104.07, down 0.03% from its previous close.

Gold Gold prices saw a second straight weekly gain, supported by China’s stimulus measures and hopes for US interest rate cuts. Spot gold rose by 1.6% to $2,415. Silver surged by 6.5% to $31.49 per troy ounce.

Crude Oil Brent crude futures were up 0.85% to $83.98 a barrel, while US West Texas Intermediate crude futures rose 0.87% to $80.06 a barrel.

LME Commodities LME commodity prices rose across the board due to positive economic data from China. Aluminium increased by 1%, Nickel by 6.48%, Copper by 2.34%, Lead decreased slightly by 0.46%, and Zinc was up by 2.4%.

FII & DII Flow Foreign institutional investors bought Indian equities worth Rs 1,616 crore on May 17, while domestic institutional investors purchased Rs 1,556 crore worth of shares.

Prepare for the trading day ahead with these key market insights. Happy trading!