The Indian market is likely to open on a flat to negative note Tuesday morning, tracking mixed global cues. After opening higher on strong cues from Wall Street, Asian stocks have either pared their gains or slipped into the red on Tuesday with participants indulging in some profit taking.
The Dow futures are currently down 25 points and the dollar is trading firm against major global currencies before the release of the revised U.S GDP report and the minutes of the November monetary policy meeting of the Federal Reserve later in the day.
Back home, foreign institutional investors (FIIs) sold shares worth Rs. 168.41 crore on a net basis Monday, provisional data released by the BSE showed. On Friday, they sold shares wroth Rs.125.60 crore, according to market regulator SEBI.
On Wall Street, stocks rallied on Monday amid the release of encouraging home sales data and weakness in the U.S dollar. However, the major averages closed well off their highs as traders pared some long positions ahead of Thursday's Thanksgiving Day holiday. The Dow set a fresh yearly high closing up 1.29%, while the Nasdaq advanced 1.4% and the S&P 500 gained 1.36%. The Indian ADRs also closed sharply higher across the board.
Crude oil finished modestly higher at 77.56 a barrel, up 84 cents on Monday, helped by a weaker dollar and reports over political tensions in the Middle East.
Likewise, the rupee rose by 13 paise to close at 46.47 against the dollar on Monday, buoyed by firm stocks and broader weakness in the dollar against the euro and other major currencies.
In corporate news, JSW Energy, a JSW group firm said it will launch a Rs.2,700-crore initial public offering on Dec 7.
Hindalco Industries plans to raise Rs.2,900 crore via a qualified institutional share placement.
Jubilant Organosys said it has formed a drug-discovery joint venture with the University of Alabama Birmingham (UAB) and Southern Research Institute, U.S.
McNally Bharat Engineering Company plans to tie up with global engineering majors for setting up nuclear reactors, reports suggest.
HCL Technologies bagged a service contract worth about $200 million from a U.K-based insurance firm.
DishTV said that it would raise $100 million through the issue of global depository receipts to private equity firm Apollo Management.
On Monday, the Indian market showed a notable gain, lifted by market heavyweight Reliance Industries after it made a preliminary, non-binding cash offer to buy a controlling stake in U.S-based bankrupt chemicals maker LyondellBasell. The BSE Sensex closed at 17,180, up 158 points or 0.93%, while the S&P CNX Nifty rose 51 points or 1.01% to 5,104, the BSE mid-cap index moved up 0.31% and the small-cap index by 0.84%.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.