Stock Market LIVE: GIFT Nifty Hints at Positive Start Above 25,000 as Block Deals, OFS Drive Momentum

The markets got off to a bullish start as the month's expiry week began. Yes, there's some resistance in higher levels closer to 25,200, but dips are being bought into and this will give the bulls a sense of security. What is also pleasing to them is that the Nifty 50 was closed at just the 25,000 mark, and they will like to consolidate the gains. Global cues are absent since Wall Street remained shut on Monday in observance of Memorial Day.

A bit of stability returning to the market has led to numerous Sensex deals and stakes sales for promoters coming back to the forefront as have IPOs. The current session will be a time when promoters of stocks such as IndiGo share price, Sagility, KEC International share price reduce their stakes in a variety of ways through block deals or an Offer To Sell (OFS).

Stock market live update:

Oil prices remained unchanged while traders speculated about potential trade tensions reduction between the European Union and US before the upcoming OPEC+ supply policy decision meeting.

Asian shares traded with nervousness at the start of Tuesday while investors awaited trade news that could influence their interest in US assets.

Asian indices trade with mixed cues; U.S. stock futures up by 1.1%–1.2%.

Nifty Midcap are awaiting US consumer confidence as well as housing and durable goods data

The dollar index continues to fall as it falls below 98.

The rupee continues to rise; It was trading at 85 cents to the dollar on Monday.

SEBI on Options Expiry

Expiries during the week will be restricted to Tuesdays and Thursdays

Exchanges are required to submit a proposal for the date they would like to expire before June 15