Indian stock market: 10 things that changed for market overnight- Gift Nifty, Big Beautiful Bill, to US nonfarm payrolls

By Admin

04 Jul, 2025

The Indian stock market is poised for a cautious start today, influenced by global developments that unfolded overnight. From a positive signal in GIFT Nifty to significant shifts in US economic indicators and landmark legislation, here are the 10 most impactful updates that are shaping the market's outlook this Friday.

1. GIFT Nifty Indicates Positive Start

GIFT Nifty was trading around the 25,526 mark early Friday, showing a premium of 18 points from the Nifty futures’ previous close. This indicates a mildly positive opening for benchmark indices such as the Sensex and Nifty 50, though broader market sentiment remains cautious.

2. Flat Opening Expected for Indian Indices

Despite a positive cue from GIFT Nifty, both the Sensex and Nifty 50 are expected to open flat, mirroring the mixed cues from global markets. On Thursday, the indices extended losses for the second consecutive session, with the Sensex down 170.22 points (0.20%) to 83,239.47, and the Nifty 50 slipping 48.10 points (0.19%) to 25,405.30.

3. Asian Markets Trade Mixed

Asian markets opened mixed today. While Japan's Topix rose by 0.15% and the Nikkei remained flat, South Korea’s Kospi fell 0.56% and Kosdaq lost 0.8%. Hong Kong’s Hang Seng futures signaled a lower start. These variations reflect investor indecision amid a complex global outlook.

4. Wall Street Hits Record Highs

The US stock market closed higher, with the S&P 500 and Nasdaq reaching record levels on Thursday. Strong job data propelled indices upward   the Dow Jones gained 344.11 points (0.77%), the S&P 500 rose 0.83%, and the Nasdaq surged 1.02%.

5. Nvidia Nears $4 Trillion Valuation

Nvidia's share price climbed 1.33% to close at $159.34, pushing its market cap to $3.89 trillion   surpassing Apple and Microsoft. This rally positions Nvidia as the most valuable company globally, driven by the AI boom.

6. US Nonfarm Payrolls Surpass Expectations

The US added 147,000 jobs in June, beating forecasts of 110,000. The May figure was revised upwards to 144,000. This robust job growth suggests economic resilience and could influence the US Fed's next policy steps.

7. Unemployment Rate Falls to 4.1%

The US unemployment rate declined to 4.1% in June from 4.2% in May. Although part of the drop is attributed to fewer people in the labor force, it signals a strengthening job market, which is typically favorable for investor sentiment.

8. Jobless Claims Drop to Six-Week Low

Initial claims for unemployment benefits in the US dropped by 4,000 to 233,000, marking a six-week low. The numbers underscore a healthy labor market, further boosting investor confidence.

9. “Big Beautiful Bill” Passed in US House

A major political development: Republicans in the US House passed a $3.4 trillion tax-and-spending bill, dubbed the “One Big Beautiful Bill.” The legislation, aimed at making Trump’s 2017 tax cuts permanent and funding immigration initiatives, could add $3.4 trillion to the US national debt, according to the Congressional Budget Office.

10. Commodities & Currency: Dollar Gains, Gold Steady

The US Dollar held gains. Against the yen, it was down 0.2% at 144.69, while the euro rose 0.1% to $1.1769. Gold prices remained flat at $3,328.36/oz, but are up 1.7% for the week, reflecting safe-haven buying amid market uncertainty.

Final Thoughts

Despite mixed global cues, Indian equities remain supported by sectoral rotation and strong individual stock performances. As Ajit Mishra, SVP – Research at Religare Broking, notes, “Participants should align their positions accordingly, with a strong focus on stock selection.” While the broader sentiment may be neutral at the open, volatility could rise as markets digest key global developments.