The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open higher on Friday, following a rally in global markets as geopolitical tensions and concerns over US President Donald Trump’s Greenland tariffs eased.
Asian markets traded higher, while the US stock market gained overnight as Trump reversed Greenland tariff threats on European allies.
On Thursday, the Indian stock market ended higher, snapping its three-session losing streak, on signs of easing global geopolitical tensions.
The Sensex gained 397.74 points, or 0.49%, to close at 82,307.37, while the Nifty 50 settled 132.40 points, or 0.53%, higher at 25,289.90.
“Overall, we expect markets to track global cues, macro indicators and the ongoing quarterly earnings,” said Siddhartha Khemka – Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.
Here are key global market cues for Sensex today:
Asian Markets
Asian markets traded higher on Friday, following overnight rally on Wall Street as geopolitical tensions eased, and ahead to the Bank of Japan’s interest rate decision. Japan’s Nikkei 225 gained 0.25%, while the Topix rose 0.27%. South Korea’s Kospi rose 1.11%, while the Kosdaq gained 0.74%. Hong Kong Hang Seng index futures indicated a higher opening.
Gift Nifty Today
Gift Nifty was trading around 25,380 level, a premium of nearly 30 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.
Wall Street
US stock market ended higher on Thursday after President Donald Trump rescinded Greenland tariff threats on European allies.
The Dow Jones Industrial Average gained 306.78 points, or 0.63%, to 49,384.01, while the S&P 500 rose 37.73 points, or 0.55%, to 6,913.35. The Nasdaq Composite closed 211.20 points, or 0.91%, higher at 23,436.02.
Meta share price rallied 5.7%, Tesla stock price jumped 4.2%, Nvidia shares rose 0.85% and Microsoft share price gained 1.52%. Procter & Gamble stock price advanced 2.6%, Abbott shares plunged 10% and GE Aerospace slipped 7.4%.
US GDP
The US economy grew a bit faster than initially thought in the third quarter. US GDP increased at an upwardly revised 4.4% annualized rate, the fastest pace since the third quarter of 2023. Economists polled by Reuters had forecast GDP would be unrevised at a 4.3% pace. The economy grew at a 3.8% pace in the second quarter.
US Inflation
The US Federal Reserve’s preferred inflation gauge held relatively steady in November. The personal consumption expenditures (PCE) price index was recorded at 2.8% in November on a YoY basis, up from 2.7% in October. From the preceding month, the rate was 0.2% in both October and November.
US Jobless Claims
The number of Americans filing new applications for unemployment benefits increased marginally last week. Initial claims for state unemployment benefits rose 1,000 to a seasonally adjusted 200,000 for the week ended January 17. Economists polled by Reuters had forecast 210,000 claims for the latest week.
Japan Inflation
Japan’s core consumer inflation slowed in the year to December but stayed above the central bank’s 2% target. The core consumer price index (CPI), which excludes volatile fresh food costs, rose 2.4% in December from a year earlier, matching a median market forecast and slowing sharply from a 3.0% gain in November.
Gold Prices
Gold price rose to an all-time above $4,960 in early trading and is on track for a weekly gain of more than 7%, while silver also hit a record high near $97 an ounce. Gold rate rose 0.5% to $4,959.39 an ounce and silver price jumped 0.7% to $96.91, also setting a record high.
Dollar
The US dollar was poised for its biggest weekly drop in a year. The dollar index, which measures the US currency against six units, was at 98.329 after dropping 0.58% in the previous session, on course for a 1% slide, its worst performance in a week since January 2025. The euro was steady at $1.1751, while sterling fetched $1.3496. Yen wobbled at 158.50 per US dollar.
Crude Oil Prices
Crude oil prices fell about 2% to a one-week low. Brent futures fell 1.8% to settle at $64.06 a barrel, while US West Texas Intermediate (WTI) crude declined 2.1% to settle at a one-week low of $59.36 a barrel.
(With inputs from Reuters)
