Benchmark indices could open flat; Asian markets trade mixed

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise around 4.5 points at the opening bell.

Global markets:

Asian markets traded mostly mixed on Friday as investors look ahead to the release of key U.S. employment data later today. Stock markets in Japan and mainland China were shut for public holidays.

The employment data release will be closely watched by the trading community after the U.S. Federal Reserve held interest rates steady at the end of its two-day meeting on Wednesday.

The Japanese yen was still in focus as it continued to show strength against the U.S. dollar amid suspected government intervention to support the currency on Monday.

Stocks in the U.S. closed higher on Thursday as investors looked ahead to more earnings as well as the nonfarm payrolls report set to be released on Friday.

Domestic markets:

The domestic equity barometers ended with minor gains after a volatile session on Thursday. Trading was volatile due to the expiry of weekly index options on the NSE. The barometer index, the S&P BSE Sensex rose 128.33 points or 0.17% to 74,611.11. The Nifty 50 index added 43.35 points or 0.19% to 22,648.20.

Foreign portfolio investors (FPIs) sold shares worth Rs 964.47crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,352.44 crore in the Indian equity market on 2 May 2024, provisional data showed.

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