Global Market Previews: Key Economic Indicators to Watch in Today's Trading Sessions

Indian Equity Markets Expected to Open Lower on June 2

The Indian equity benchmark indices, the BSE Sensex and Nifty 50, are likely to see a negative start on June 2, tracking positive signals from the GIFT Nifty, which was trading lower around 23,305 in early trade.

The BSE Sensex ended lower for the fourth consecutive session on June 1, closing at 74,267.34, a decline of 508.40 points or 0.68 percent. The Nifty 50 also ended lower, down 165.15 points or 0.70 percent at 23,382.60. The weak opening for the Indian equity markets is indicated by the GIFT Nifty, which is trading lower at around 23,305.

Global Markets

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In other markets, Asian stocks made a cautious start to trading on Tuesday, amid uncertainty over whether the ceasefire in the Middle East conflict capped the lift to sentiment from renewed optimism around AI. In contrast, Wall Street stocks posted modest gains on Monday, with the Dow Jones Industrial Average rising 46.42 points, or 0.09%, to 51,078.88. The S&P 500 gained 19.90 points, or 0.26%, to 7,599.96, and the Nasdaq Composite gained 114.19 points, or 0.42%, to 27,086.81.

Currency and Bond Markets

The U.S. dollar steadied on Tuesday, with markets taking a wait-and-see approach to Middle East peace talks. The yield on the U.S. 10-year Treasury bond was down 4 basis points at 4.455%, while the yield on 2-year Treasuries was down 10 basis points at 4.03%. Asian currencies traded in a mixed manner against the US dollar, with the Indonesian Rupiah emerging as the strongest performer, appreciating 0.427%.

Crude and Gold Markets

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Oil prices held on to most of the previous session's sharp gains in early trade on Tuesday, on uncertainty over the status of ceasefire talks between the United States and Iran and the potential reopening of the Strait of Hormuz. Gold prices were steady on Tuesday, as investors parsed a partial ceasefire between Hezbollah and Israel and awaited further details on U.S.-Iran negotiations.

Fund Flow Action

Foreign Institutional Investors (FIIs) remained net sellers for the fourth consecutive trading session on June 1, offloading equities worth more than ₹3,900 crore. Meanwhile, Domestic Institutional Investors (DIIs) continued to provide strong support to the market, extending their buying streak to the tenth straight session, purchasing equities worth over ₹5,100 crore during the day.