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Stock Market Updates: Sensex, Nifty Volatile At Open; Paytm Tanks 8%
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Indian equity benchmarks, Sensex and Nifty, are poised for a cautious yet positive start on Thursday
Indian equity benchmarks, Sensex and Nifty, are poised for a cautious yet positive start on Thursday, supported by a mix of domestic and global cues. Investors will closely track India's May inflation numbers, global market trends, and updates on the US-China trade deal.
At around 8:15 AM, GIFT Nifty futures were up 55 points at 25,267, hinting at a firm opening for domestic markets.
Domestic Focus
CPI Data in Spotlight India's consumer price inflation for May is expected to have cooled to a six-year low of 3%, aided by a favourable base and easing food prices, according to a Reuters poll. This aligns with the RBI's surprise 50 basis point repo rate cut last week, aimed at supporting growth amid a disinflationary trend.
Global Market Cues
Asia-Pacific markets traded mixed on Thursday as investors evaluated the US President Donald Trump's announcement that a trade agreement with China was 'done,' though key details and implications left room for caution.
Trump indicated that Chinese imports would face a total tariff rate of 55 per cent, a level later confirmed by the US Commerce Secretary Howard Lutnick.
Last checked, Nikkei was down 0.75 per cent, while the broader Topix dropped 0.43 per cent. ASX200 was trading flat with a negative bias. Kospi, bucking the trend, rose 0.4 per cent.
Meanwhile, US stock futures edged lower as markets digested the tentative trade deal and fresh inflation data. Futures tied to the S&P 500 and Nasdaq 100 were down 0.2 per cent, while Dow Jones futures dropped 0.2 per cent.
The US consumer price index (CPI) rose just 0.1 per cent in May, below the 0.2 per cent forecast, while core CPI, which strips out food and energy, also came in weaker than expected. The modest inflation reading added to the cautious tone across global markets.
On Wall Street, major indexes closed slightly lower overnight, pausing after a recent rally. Dow Jones ended flat with a negative bias, S&P 500 slipped 0.27 per cent, and Nasdaq closed 0.5 per cent lower. President Trump noted on Truth Social that the trade deal with China is 'done, subject to final approval with President Xi and me." The deal reportedly includes upfront Chinese supply of rare earths and magnets, while the US will ease restrictions on Chinese students studying in the US. Trump further said, 'We are getting a total of 55 per cent tariffs, China is getting 10 per cent."
Additionally, US PPI and core PPI figures for May, and initial jobless claims for the week ended June 7 will also be eyed.
First Published:
June 12, 2025, 09:17 IST
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