Stock market today: Gift Nifty hints at flat opening; key index levels to watch out
Nifty futures on the NSE International Exchange traded 5.70 points, or 0.02 per cent, higher at 24,948, hinting at a flat start for the domestic market on Friday.
- May 30, 2025,
- Updated May 30, 2025 8:28 AM IST
Indian benchmark indices are set to open on a flat note amid a slew of mixed global cues. A rally in US stocks was knocked down by the weakness in Asian markets. Also, traders await key economic data like GDP numbers for India for further action. End of Q4 earning season shall also weigh on the Dalal Street sentiments.
Nifty futures on the NSE International Exchange traded 5.70 points, or 0.02 per cent, higher at 24,948, hinting at a flat start for the domestic market on Friday. Stocks fell in Asia on Friday as investors digested an appeals court kept President Donald Trump's tariffs in effect. Hang Seng tanked 1.51 per cent, while Nikkei cracked 1.40 per cent. KOSPI was down half a per cent.
Investor confidence was weighed down by weak Industrial Production data, which slowed to an eight-month low of 2.7 per cent in April. Investors remain cautious ahead of key macro-economic releases — the US Q1 GDP data, followed by US April retail inflation and India’s Q4 GDP figures, said Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services.
"Looking ahead, we expect the market to remain range-bound, with sector rotation and stock-specific movements driven by the final set of Q4 results on Friday, macro-economic indicators, and developments on the US tariff front," he said.
US stocks ended higher on Thursday. The Dow Jones Industrial Average rose 117.03 points, or 0.28 per cent, to 42,215.73, the S&P 500 gained 23.62 points, or 0.40 per cent, to 5,912.17 and the Nasdaq Composite jumped 74.93 points, or 0.39 per cent, to 19,175.87.
Safe-haven gold was little changed at $3,311 per ounce. Risk-sensitive bitcoin slipped to a 10-day low of $104,714.35. Both Brent and US West Texas Intermediate crude eased 0.3 per cent early on Friday, to $63.97 and $60.75 per barrel, respectively.
The US dollar softened on Friday, heading for its fifth-straight monthly decline as traders braced for further bouts of uncertainty around trade and fiscal health, while investors awaited a pivotal inflation report later in the day. The dollar index was muted on the day. The index was set for a decline of 0.4 per cent in May, on course for its fifth month in the red.
The rebound in the Nifty reinforces the ongoing consolidation view. In the absence of any major domestic triggers, participants should continue to closely monitor global markets and the performance of banking and financial majors for cues on the next directional move, said Ajit Mishra, SVP of Research at Religare Broking.
With ample short-term trading opportunities available across sectors, the focus should remain on stock selection and gradually accumulating fundamentally strong counters during this phase."
Provisional data available with NSE suggest that FPIs turned net buyers of domestic stocks to the tune of Rs884.03 crore on Thursday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 4,286.50 crore on a net-net basis.
Nifty & Sensex outlook Nifty is into continuation of a short-term consolidation trend. The 20-day EMA has now moved up to 24618, which is expected to serve as immediate support, while the 24900-25000 band is likely to continue acting as a resistance zone for the Nifty, said Devarsh Vakil, Head of Prime Research at HDFC Securities
Shrikant Chouhan, Head Equity Research, Kotak Securities believes that 24,700/81,200 and 24,650/80,900 would act as key support zones for traders. "If the market sustains above these levels, the chances of hitting 25,000/82,200–25,100/82,600 would become brighter. Traders may prefer to exit their long positions below 24,650/80,900," he added.
Nifty Bank outlook Nifty Bank formed a Doji candle on the daily chart, indicating indecision. On the upside, it continues to face resistance near the 56,000–56,100 zone, said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates. "As long as the index remains above 54,900, its 21-DEMA, a relief rally towards 56,000 cannot be ruled out," he said.
Bajaj Broking expects the index to extend the last 4 weeks' consolidation in the broad range of 56,000-53,500. A move above 56,000 levels will signal acceleration of the up move towards 56,700 levels in the coming sessions. Immediate support is placed at 54,800 levels while the short-term support is seen at 54,000-53,500 being the confluence of key retracement and 50 days EMA, it said.
Indian benchmark indices are set to open on a flat note amid a slew of mixed global cues. A rally in US stocks was knocked down by the weakness in Asian markets. Also, traders await key economic data like GDP numbers for India for further action. End of Q4 earning season shall also weigh on the Dalal Street sentiments.
Nifty futures on the NSE International Exchange traded 5.70 points, or 0.02 per cent, higher at 24,948, hinting at a flat start for the domestic market on Friday. Stocks fell in Asia on Friday as investors digested an appeals court kept President Donald Trump's tariffs in effect. Hang Seng tanked 1.51 per cent, while Nikkei cracked 1.40 per cent. KOSPI was down half a per cent.
Investor confidence was weighed down by weak Industrial Production data, which slowed to an eight-month low of 2.7 per cent in April. Investors remain cautious ahead of key macro-economic releases — the US Q1 GDP data, followed by US April retail inflation and India’s Q4 GDP figures, said Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services.
"Looking ahead, we expect the market to remain range-bound, with sector rotation and stock-specific movements driven by the final set of Q4 results on Friday, macro-economic indicators, and developments on the US tariff front," he said.
US stocks ended higher on Thursday. The Dow Jones Industrial Average rose 117.03 points, or 0.28 per cent, to 42,215.73, the S&P 500 gained 23.62 points, or 0.40 per cent, to 5,912.17 and the Nasdaq Composite jumped 74.93 points, or 0.39 per cent, to 19,175.87.
Safe-haven gold was little changed at $3,311 per ounce. Risk-sensitive bitcoin slipped to a 10-day low of $104,714.35. Both Brent and US West Texas Intermediate crude eased 0.3 per cent early on Friday, to $63.97 and $60.75 per barrel, respectively.
The US dollar softened on Friday, heading for its fifth-straight monthly decline as traders braced for further bouts of uncertainty around trade and fiscal health, while investors awaited a pivotal inflation report later in the day. The dollar index was muted on the day. The index was set for a decline of 0.4 per cent in May, on course for its fifth month in the red.
The rebound in the Nifty reinforces the ongoing consolidation view. In the absence of any major domestic triggers, participants should continue to closely monitor global markets and the performance of banking and financial majors for cues on the next directional move, said Ajit Mishra, SVP of Research at Religare Broking.
With ample short-term trading opportunities available across sectors, the focus should remain on stock selection and gradually accumulating fundamentally strong counters during this phase."
Provisional data available with NSE suggest that FPIs turned net buyers of domestic stocks to the tune of Rs884.03 crore on Thursday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 4,286.50 crore on a net-net basis.
Nifty & Sensex outlook Nifty is into continuation of a short-term consolidation trend. The 20-day EMA has now moved up to 24618, which is expected to serve as immediate support, while the 24900-25000 band is likely to continue acting as a resistance zone for the Nifty, said Devarsh Vakil, Head of Prime Research at HDFC Securities
Shrikant Chouhan, Head Equity Research, Kotak Securities believes that 24,700/81,200 and 24,650/80,900 would act as key support zones for traders. "If the market sustains above these levels, the chances of hitting 25,000/82,200–25,100/82,600 would become brighter. Traders may prefer to exit their long positions below 24,650/80,900," he added.
Nifty Bank outlook Nifty Bank formed a Doji candle on the daily chart, indicating indecision. On the upside, it continues to face resistance near the 56,000–56,100 zone, said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates. "As long as the index remains above 54,900, its 21-DEMA, a relief rally towards 56,000 cannot be ruled out," he said.
Bajaj Broking expects the index to extend the last 4 weeks' consolidation in the broad range of 56,000-53,500. A move above 56,000 levels will signal acceleration of the up move towards 56,700 levels in the coming sessions. Immediate support is placed at 54,800 levels while the short-term support is seen at 54,000-53,500 being the confluence of key retracement and 50 days EMA, it said.