Nifty Expected to Open Steady; Continued Buying by FIIs and DIIs as Investors Await GDP Data and Key Earnings

On May 29, Foreign Institutional Investors remained net buyers, acquiring equities worth Rs 884.03 crore. Domestic Institutional Investors also continued their buying streak, purchasing shares valued at Rs 4,286.50 crore during the session.

Pre-Market Update at 8:00 AM: On Friday, May 30, Indian equity markets are likely to begin trading on a cautious note. As of 7:25 am, the GIFT Nifty hovered around 24,944, marginally higher by 5 points compared to the previous session's close.

While Asian markets showed weakness, U.S. indices closed higher overnight, buoyed by a federal appeals court ruling reinstating tariffs introduced during former President Donald Trump’s administration.

With no major domestic developments to drive market sentiment, investors will closely monitor global cues and the performance of leading banking and financial stocks to determine the market’s near-term direction. Attention is also firmly fixed on India's GDP growth figures scheduled for release today.

Given this subdued start, trading activity in the domestic market is expected to be influenced more by stock-specific movements as Q4 earnings announcements roll out. Several notable companies including Bajaj Holdings & Investment, Apollo Hospitals, Vodafone Idea, Nykaa, Sun TV Network, and others are set to report their Quarterly Results.

On May 29, Foreign Institutional Investors remained net buyers, acquiring equities worth Rs 884.03 crore. Domestic Institutional Investors also continued their buying streak, purchasing shares valued at Rs 4,286.50 crore during the session. FIIs have been net purchasers over the past five trading days, while DIIs have maintained net buying over the last eight sessions.

Indian markets ended Thursday on a positive note, propelled by buying interest in select blue-chip stocks during the late hours. The Sensex gained 320.70 points (0.39 per cent) to close at 81,633.02, and the Nifty 50 rose by 81.15 points (0.33 per cent) to finish at 24,833.60.

Asian equities opened lower amid growing uncertainty tied to the ongoing legal developments regarding the U.S. tariffs imposed during Donald Trump’s presidency.

April’s economic data from Japan showed a mixed picture. Industrial output declined by 0.9 per cent month-on-month, though manufacturers expect a 9.0 per cent increase in May, followed by a 3.4 per cent drop in June. Retail sales rose 3.3 per cent year-over-year, slightly beating estimates, while unemployment held steady at 2.5 per cent, in line with forecasts.

U.S. markets closed higher on Thursday after a federal appeals court temporarily reinstated broad tariffs from the Trump era, halting a lower court ruling pending further review. The Dow Jones added 117.03 points (0.28 per cent) to 42,215.73, the S&P 500 rose 0.40 per cent to 5,912.17, and the Nasdaq gained 0.39 per cent to 19,175.87.

The U.S. economy contracted by 0.2 per cent annualised in Q1 2025, a smaller decline than initially estimated. This marks the first GDP contraction since 2022, following 2.4 per cent growth in Q4 2024.

WTI crude futures dropped toward USD 60.9 per barrel, while Brent crude fell near USD 63.3, signaling a potential second consecutive weekly loss ahead of the OPEC+ meeting. Gold prices edged down slightly in early Asian trade to USD 3,309 per ounce amid possible position adjustments but could find support from weaker U.S. labor data and the confirmed economic slowdown.

There are not any stocks banned for trading in the F&O segment today.

Disclaimer: The article is for informational purposes only and not investment advice.