Gift Nifty Futures Trades Higher: How Indian Stock Market Likely to Perform?

On May 29, 2025, Indian equity benchmark indices, Sensex and Nifty 50, are likely to open on a positive note, tracking upbeat global sentiment and strong cues from Asian and US markets and a positive Gift Nifty future.

Gift Nifty Today: Signals Positive Start

As of 7:47 AM, Gift Nifty was trading around the 24,928 level, about 80 points higher than Nifty futures’ previous close, pointing toward a likely gap-up opening for Indian markets.

Asian Market Overview

Asian markets traded in the green after a US federal court blocked former President Donald Trump’s attempt to impose broad tariffs using emergency powers. This development boosted investor sentiment across the region. Japan’s Nikkei 225 jumped 1.18%, the Topix gained 0.79%, South Korea’s Kospi advanced 0.78%, and the Kosdaq rose 0.44%. However, futures suggest a flat-to-lower opening for Hong Kong markets.

Also Read: Key Financial Changes from June 1, 2025: SEBI’s Mutual Fund Rules and Kotak Credit Card Revisions

Court Blocks Trump Tariffs

In a notable legal development, the US Court of International Trade ruled that Donald Trump exceeded his authority by attempting to impose sweeping tariffs under emergency economic powers. The court emphasised that regulating foreign trade is a power reserved for Congress, not the executive branch.

Wall Street Recap

Wall Street closed lower on Wednesday as investors analysed the minutes from the latest Federal Reserve meeting, which hinted at a cautious stance on rate cuts. Despite the decline, US stock futures rebounded sharply on Thursday. Futures for the Dow Jones Industrial Average rose 1.15%, S&P 500 futures climbed 1.44%, and Nasdaq 100 futures surged 1.76%.

The previous trading session saw the Dow fall 244.95 points (0.58%) to close at 42,098.70. The S&P 500 slipped 32.99 points (0.56%) to 5,888.55, while the Nasdaq Composite ended 98.23 points (0.51%) lower at 19,100.94.

How Domestic Market Performed on May 28?

Indian equities extended losses for the 2nd straight session on Wednesday. The Sensex declined 239.31 points, or 0.29%, to settle at 81,312.32, while the Nifty 50 slipped 73.75 points, or 0.30%, to 24,752.45.

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