Sensex and Nifty 50 are likely to open flat on Thursday as investors react to mixed overnight global cues. While Asian markets traded on a mixed note, Wall Street closed mostly higher despite weak economic data.

However, on Wednesday, Indian equities ended in positive territory, with benchmark indices breaking a three-session losing streak.

Domestic Market Recap

On Wednesday, Indian indices closed in the green:

• Sensex gained by 260.74 points (0.32%) to close at 80,998.25
• Nifty 50 moved up by 77.70 points (0.32%) to settle at 24,620.20

Gift Nifty

Gift Nifty was trading near 24,731, around 2 points higher than the previous Nifty futures close, hinting at a lackluster start for Indian markets.

Wall Street Performance

The US stock market closed mixed on Wednesday, while Treasury yields fell as investors reacted to weak economic data.

• Dow Jones Industrial Average slumped by 91.90 (0.22%) points to close at 42,427.74.
• S&P 500 up by 0.44 points (0.01%), ending at 5,970.81.
• The Nasdaq Composite was higher by 61.53 points (0.32%), finishing at 19,460.49.

Gold Prices

• Spot gold gained by 0.1% to $3,377.79/oz 
• US gold futures up by 0.1% to $3,401.20

Crude Oil Prices

• Brent crude slumped by 0.25% to $64.70/barrel
• US West Texas Intermediate (WTI) crude: -0.41% to $62.59/barrel

Overnight Major Global Events Driving Sentiment

1. US Nonfarm Payrolls: US private employers hired the fewest workers in over two years in May, with private payrolls rising by just 37,000, the smallest increase since March 2023, according to the ADP National Employment Report. This follows a downwardly revised gain of 60,000 in April. Economists surveyed by Reuters had expected a stronger rise of 110,000 jobs after April’s previously reported 62,000 increase.
2. US Services PMI: The US services sector shrank for the first time in nearly a year in May. The Institute for Supply Management (ISM) reported that its non-manufacturing PMI fell to 49.9, the first reading below the 50-mark and the weakest since June 2024, down from 51.6 in April. Reuters-polled economists had anticipated an increase to 52.0.

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