GIFT Nifty points to a subdued opening

GIFT Nifty:

GIFT Nifty June 2025 futures were trading 8 points higher in early trade, suggesting a flat-to-positive opening for the Nifty 50.

Institutional Flows:

Foreign portfolio investors (FPIs) bought shares worth 884.03 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 4,286.50 crore in the Indian equity market on 29 May 2025, provisional data showed.

According to NSDL data, FPIs have bought shares worth Rs 19842.55 crore in the secondary market during May 2025 (so far). This follows their purchase of shares worth Rs 3243.03 crore in April 2024.

Global Markets:

Asian shares traded lower on Friday as investor sentiment remained cautious amid signs of a slowing U.S. economy, persistent inflation concerns, and uncertainty surrounding recent judicial developments linked to U.S. President Donald Trump?s tariff policies.

On Wednesday, the U.S. Court of International Trade ruled that Trump had exceeded his authority in imposing the so-called ?reciprocal? tariffs and ordered them to be vacated. In response, the Trump administration filed an appeal, and by Thursday afternoon, an appellate court reinstated the levies. The administration indicated it may approach the Supreme Court as early as Friday to pause the lower court?s decision.

In regional economic data, Japan?s core consumer price index, excluding fresh food, rose 3.6% year-on-year in May, slightly higher than April?s 3.4%, according to the Statistics Bureau. The country?s unemployment rate remained unchanged at 2.5% in April.

South Korea reported a 0.9% decline in industrial production for April on a seasonally adjusted basis, following a 2.9% increase in March, according to data released by Statistics Korea.

Despite the uncertainty, U.S. markets closed slightly higher overnight. The S&P 500 rose 0.4%, the Nasdaq Composite added 0.39%, and the Dow Jones Industrial Average gained 0.28%. However, gains were limited by investor caution surrounding the ongoing legal proceedings related to the tariffs.

Domestic Market:

Domestic equity benchmarks bounced back with modest gains Thursday, halting a two-day losing run. The mood turned upbeat after a U.S. federal court struck down President Donald Trump?s proposed Liberation Day tariffs, triggering a relief rally across global markets. Back home, the session remained choppy thanks to the monthly expiry of the Nifty F&O series. Still, a cocktail of positive factors, including a stronger monsoon outlook, easing inflation expectations, and optimism around Q4 GDP growth, kept investor spirits high. The S&P BSE Sensex added 320.70 points or 0.39% to 81,633.02. The Nifty 50 index rose 81.15 points or 0.33% to 24,833.60.

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