Indian equity indices are expected to open higher to flat, defying global cues. The Asian indices were trading lower following US futures, which fell due to Moody’s Ratings downgrade of the US credit rating. The GIFT Nifty was up 38 points or 0.15% higher at 25,126.50.
Earlier on Monday, the NSE Nifty 50 closed the session 42 points or 0.17% lower at 25,019.80, while the BSE Sensex lost 200 points or 0.24% to close at 82,330.
Key global and domestic cues to know on May 19, 2025
Asian Markets
Asia-Pacific markets declined on Monday morning, after Moody’s Ratings downgraded the US credit rating. Japan’s key index, Nikkei 225, was down 0.36%, while South Korea’s Kospi fell 0.72%. Following the overall sentiments, the Asia Dow declined 0.33% to 3,636.56.
US markets
The futures contracts tied to the US equity benchmarks fell on Monday morning, reacting to Moody’s Ratings downgrade to the US’s credit rating. Futures tied to the Dow Jones Industrial Average declined 292 points, or 0.7%. S&P 500 futures pulled back 0.7%, while Nasdaq 100 futures fell 0.8%.
Moody’s Ratings downgrades US
On Friday, Moody’s Ratings downgraded the US sovereign credit rating by one level from Aaa to Aa1, joining its peers. The credit rating agency cited mounting challenges in funding the federal budget deficit, and the increasing cost of refinancing debt in a high-interest-rate environment is the reason behind the cut in rating.
US dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was down 0.07% at 100.75 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 appreciated 0.04% to close at 85.51 to the dollar on May 16.
Crude oil
The crude oil prices traded on a higher note on Monday. WTI crude prices were trading at $62.53, up by 0.07%, while Brent crude prices were trading at $65.43, up by 0.03%, on Monday morning.
FII, DII data
Foreign institutional investors (FII) were the net buyers of shares worth Rs 8,831.05 crore. The Domestic institutional investors (DII) were the net buyers of shares worth Rs 5,187.09 crore on May 16, 2024, according to the provisional data available on the NSE.
Gold rate today
As tensions globally as well as in the domestic market ease, the gold prices have fallen from their all-time high. The rate for 24-carat gold today is Rs 92,880 per 10 grams. The rate of gold has fallen by 2.67% in the last one month. The 22 kt gold rate today is Rs 85,140 per 10 grams. The 18-carat gold price today is Rs 85,140.