Sensex Today | Stock Market LIVE Updates: GIFT Nifty indicates a start below the 24,850 mark for Nifty; NMDC reacts to results

May 28, 2025 6:57 AM ISTEditor’s Take | Prashant Nair Shares His Views On The MarketTRADE SET UP
S&P 500 climbed >2%, halting a 4-day slide
SPX +2.05%, Nasdaq +2.47%, Russell 2000 +2.47%
Move felt squeezy & a technical reaction to drop in yields (30y < 5%)
UST 10y yield lost 7 bps to 4.45%
2 reasons: Japan’s signal that they will adjust their debt plan, overnight 2y UST auction was strong
Dollar Index +0.42% to 99.53
Brent Oil down 0.9% to $64.18
OPEC+ ministerial meeting today
OPEC+ members reportedly a potential 3rd straight production surge in July of 411k bpd being discussed
US Conference Board Consumer Confidence surprised to the upside
On the downside, Nifty support at 24,627 (20-day MA) & then 24,462
Nifty has immediate resistance at the high of 25,116 & then at 25,310
Support for Bank Nifty at 54,576, 20-day MA at 54,991
Bank Nifty immediate resistance at 55,875 (yesterday’s high)

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