The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open higher on Friday, following positive global market cues, and upbeat domestic sentiment on expectations of India-US trade deal.
Asian markets traded higher, while the US stock market rallied overnight, as confirmation of the upcoming Donald Trump-Xi Jinping meeting improved sentiment.
On Thursday, the Indian stock market ended higher, extending the bull run to the sixth day in a row.
The Sensex gained 130.06 points, or 0.15%, to close at 84,556.40, while the Nifty 50 settled 22.80 points, or 0.09%, higher at 25,891.40.
“Positive global cues, renewed foreign inflows and better-than-expected quarterly earnings could help sustain the market’s upward momentum, though intermittent profit booking at higher levels cannot be ruled out,” 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 gains on Wall Street, after the White House confirmed a meeting between US President Donald Trump and China’s President Xi Jinping next week.
Japan’s Nikkei 225 index rallied 1.18%, while the Topix gained 0.39%. South Korea’s Kospi surged 1.58% and the Kosdaq rose 0.92%. Hong Kong’s Hang Seng Index futures indicated a stronger opening.
Gift Nifty Today
Gift Nifty was trading around 26,033 level, a premium of nearly 56 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, led by technology stocks, amid a mixed batch of corporate earnings.
The Dow Jones Industrial Average gained 144.20 points, or 0.31%, to 46,734.61, while the S&P 500 rose 39.03 points, or 0.58%, to 6,738.43. The Nasdaq Composite closed 201.40 points, or 0.89%, higher at 22,941.80.
Tesla stock price rallied 2.28%, Nvidia share price gained 1.04%, Advanced Micro Devices shares rose 2.07%, while IBM shares dropped 0.9%. Molina Healthcare stock price plunged 17.5%, Honeywell shares jumped 6.8%, American Airlines shares advanced 5.6%, while Southwest Airlines share price slipped 6.3%. Intel share price ended 3.36% higher, and jumped 7.71% after market hours.
Trump-Xi Meeting
US President Donald Trump will meet Chinese President Xi Jinping next week as part of a trip to Asia, the White House said, confirming the meeting following an escalation in trade tensions between the two nations.
Vladimir Putin on US Sanctions
President Vladimir Putin said that Russia would never bow to pressure from the United States or any other country, and cautioned that the response to any strikes deep into Russia would be very serious and overwhelming, Reuters reported. US sanctions are an “unfriendly” act and “will have certain consequences, but they will not significantly affect our economic well-being,” Putin said.
Defence Acquisition Council
The Defence Acquisition Council (DAC), chaired by Raksha Mantri Rajnath Singh, has approved various proposals for the Armed Forces amounting to a total of ₹79,000 crore. The government accorded an Acceptance of Necessity (AoN) to the Indian Army for the procurement of Nag Missile System (Tracked) Mk-II (NAMIS), Ground-Based Mobile ELINT System (GBMES) and High Mobility Vehicles (HMVs) with Material Handling Crane.
US Jobless Claims
The number of Americans filing new applications for jobless benefits increased last week, economists estimated on Thursday. Initial claims for state unemployment benefits rose to a seasonally adjusted 232,000 for the week ended October 18 from 220,000 the prior week, economists at Citigroup and Nationwide calculated. Goldman Sachs estimated claims at 227,000 while JPMorgan put the number at 229,000, Reuters reported.
Japan Inflation, PMI
Japan’s core consumer prices rose 2.9% YoY in September, staying above the central bank’s 2% target. The increase in the core consumer price index (CPI), which excludes volatile fresh food but includes fuel costs, matched a median market forecast and accelerated from a 2.7% rise in August.
Japan’s manufacturing sector contracted in October at the fastest pace in 19 months. The S&P Global flash Japan Manufacturing Purchasing Managers’ Index (PMI) fell to 48.3 in October from a final reading of 48.5 in September, hitting the lowest since March 2024.
Gold Prices
Gold prices traded higher on Friday. Spot gold price was up 0.1% at $4,130.43 an ounce.
Crude Oil Prices
Crude oil prices fell, trimming part of the previous day’s surge but remained on track for a weekly gain. Brent crude futures fell 0.30% to $65.79, while US West Texas Intermediate crude futures declined 0.26% to $61.63.
(With inputs from Reuters)
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
