The GIFT Nifty implied a gap-down opening as tensions along the LoC rises between India and Pakistan. Also, US markets closed on a higher note as the US Fed maintained the key lending rates. Following that, the Asian indices opened Thursday’s trade on a higher note.
Earlier on Wednesday, the NSE Nifty 50 closed the session 35 points or 0.14% higher at 24,414, while the BSE Sensex rose 106 points or 0.13% to close at 80,747.
Key global and domestic cues to know on May 08, 2025
Donald Trump’s big news
US President Donald Trump in a social media post said, there’s a big news conference on a major trade deal on the evening of May 08 with representatives of a big and highly respected country, the trade deal announcement will be ‘the first of many’.
Fed holds key lending rates
The US Federal Reserve decided to keep the key benchmark lending rates unchanged at the range of 4.25% to 4.5% on Wednesday, May 7, 2025, as global uncertainty caused by the raging trade war, a slowing economic growth in the nation, and unstable inflation trends.
Asian Markets
On May 08, major Asian indices traded on a higher note as the US held key interest rates unchanged. Japan’s Nikkei 225 was up 0.13% or 40 points to 36,821. Hong Kong’s Hang Seng was up 0.22% at 22,745. Korea’s Kospi was trading 0.20% higher at 2,579. The Taiwan Weighted rose 0.46% to trade at 20,644. The Chinese index, Shanghai Composite, was trading 0.10% higher at 3,345
US markets
The US stock markets rose in Wednesday’s session after the US Fed kept the key lending rates unchanged. The Dow Jones Industrial Average gained 284.97 points, or 0.70%, to finish at 41,114. The S&P 500 added 0.43% to finish at 5,631.28, and the Nasdaq Composite advanced 0.27% to close at 17,738.16.
US dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was up 0.22% at 99.83 on Thursday 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 0.45% to close at 84.82 to the dollar on May 07.
Crude oil
The crude oil prices rose on Wednesday. WTI crude prices were trading at $58.32, up by 0.43%, while Brent crude prices were trading at $61.30, up by 0.29%, on Thursday morning.
FII, DII data
Foreign institutional investors (FII) were the net buyers of shares worth Rs 2,585.86 crore. The Domestic institutional investors (DII) were the net buyers of shares worth Rs 2,378.49 crore on May 07, 2024, according to the provisional data available on the NSE.
Gold rate today
As tensions loom between India and Pakistan, the gold prices have surged to an all-time high. The rate for 24-carat gold today is Rs 97,380 per 10 grams, near its lifetime high. The rate of gold has jumped by 10.85% in the last one month. The 22 kt gold rate today is Rs 89,265 per 10 grams. The 18-carat gold price today is Rs 73,035.