Stock Market Updates: GIFT Nifty Hints At Flat Open; RBI MPC Starts Today
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Sensex Today: GIFT Nifty hints at flat open; Asian markets rise
Sensex Today: The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) meeting, starting today, along with India and US May Services PMI data, positive global cues, and institutional activity, are expected to support gains in benchmark indices Sensex and Nifty.
At 8:10 AM, GIFT Nifty futures were up by 49 points at 24,724, hinting at a firm start for domestic equities.
A Business Standard poll suggests that the RBI's six-member MPC is widely anticipated to cut the repo rate by 25 basis points to 5.75 per cent. Interestingly, State Bank of India (SBI) has forecast a more aggressive 50-basis-point cut. The three-day MPC meeting begins today, June 4, with the policy decision set to be announced on Friday, June 6.
Global Cues
Asian markets advanced on Wednesday, mirroring Wall Street's overnight rally driven by gains in tech stocks, especially chipmakers like Nvidia.
Nvidia jumped nearly 3 per cent, extending Monday's rally and briefly surpassing Microsoft to become the world's most valuable company by market capitalisation. Other semiconductor stocks also moved higher, with Broadcom and Micron Technology gaining over 3 per cent and 4 per cent, respectively.
advetisement
South Korea's Kospi surged 1.85 per cent to a 10-month high as markets reopened after opposition leader Lee Jae-myung's presidential election victory. Japan's Nikkei rose 0.94 per cent, and Topix was up 0.43 per cent.
Australia's ASX200 gained 0.70 per cent ahead of the release of Q1 GDP data. Economists polled by Reuters expect a 1.5 per cent year-on-year expansion, compared to 1.3 per cent in the previous quarter.
Meanwhile, US futures traded flat after Tuesday's gains, buoyed by solid economic data and optimism in the tech sector. The S&P 500 advanced 0.58 per cent, the Dow Jones added 0.51 per cent, and the Nasdaq climbed 0.81 per cent, reflecting a resilient labour market despite concerns about tariffs.
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Aparna Deb
Stay updated with all the latest news on the Stock Market, including market trends, Sensex and Nifty updates, top gainers and losers, and expert analysis. Get real-time insights, financial reports, and investment strategies—only on News18.
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First Published:
June 04, 2025, 09:10 IST
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