Indian equity indices are expected to open on a positive note. The Asian indices were trading lower. The GIFT Nifty was up 31 points or 0.12% at 24,868. Here are key global cues to watch before the market opens that include crude oil prices, FII and DII data, business groups that most, sectoral performance, etc. 

Earlier on Friday, the NSE Nifty 50 closed the session 83 points or 0.33% lower at 24,751, while the BSE Sensex fell 182 points or 0.22% to close at 81,451.

Asia-Pacific markets traded lower on Monday morning as US President Donald Trump told steelworkers in the US that he would double tariffs on steel imports to 50%, which will be in effect from Wednesday. Japan’s benchmark Nikkei 225 fell 0.89% and the Topix declined 0.65% at the open. South Korea’s Kospi added 0.16% while the small-cap Kosdaq traded flat. The Asia Dow was down 1.29% at 3,616.72. The Chinese markets will remain shut today on account of Dragon Boat Festival holiday.

The futures contracts tied to the US key indices were trading on a negative note. Futures tied to the Dow Jones Industrial Average also declined over 140 points, or 0.3%. S&P 500 futures also traded down 0.3%, along with Nasdaq-100 futures. The US markets closed on a muted note on Friday. The Dow ended in the green while S&P and Nasdaq slipped in the red, though flat.

The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was down 0.16% at 99.18 on Monday morning. The index evaluates the strength or weakness of the US dollar in comparison to major currencies. The basket contains currencies such as the British Pound, Euro, Swedish Krona, Japanese Yen, Swiss Franc, etc. The rupee depreciated 0.06% to close at 85.57 to the dollar on May 30. 

The crude oil prices traded on a higher note on Monday morning. WTI crude prices were trading at $62.19, up by 2.30%, while Brent crude prices were trading at $64.10, up by 2.10%. 

Foreign institutional investors (FII) were the net sellers of shares worth Rs 6,449.74 crore. Meanwhile, the Domestic institutional investors (DII) were the net buyers of shares worth Rs 9,095.91 crore on May 30, 2024, according to the provisional data available on the NSE.

The gold price remained stable near its all-time high. The rate for 24-carat gold today is Rs 95,940 per 10 grams. The rate of gold has fallen by 0.49% in the last week. The 22 kt gold rate today is Rs 87,945 per 10 grams. The 18-carat gold price today is Rs 71,955.

The Anil Ambani Group’s market capitalisation has risen the most in Friday’s trade, gaining over 9%. In the list of Anil Ambani Group stocks, all 5 stocks closed the session in the green. Anil Ambani Group was followed by Muthoot Group, whose market cap surged almost 6.45%, Jaipuria Group’s market cap increased by 6.41%, and others. However, the KK Birla Group’s market cap declined the most, falling 5.07%.