The domestic equity market benchmarks, Sensex and Nifty 50, are set to open higher on Friday, driven by positive trends in global markets. Gift Nifty was trading at 23,323, up 29.5 points, indicating a premium of nearly 30 points over the Nifty futures’ previous close.
Global Market Trends:
- Wall Street: The S&P 500 hit a record closing high as US President Donald Trump urged lower interest rates and oil prices during his address at the World Economic Forum in Davos. The Dow Jones rose 408.34 points (0.92%) to 44,565.07, while the Nasdaq gained 44.34 points (0.22%) to 20,053.68.
- Asian Markets: Major Asian indices followed the overnight Wall Street rally. Japan’s Nikkei 225 advanced 0.55%, and South Korea’s Kospi gained 0.62%. Hong Kong’s Hang Seng index also hinted at a slightly higher open.
Indian Market Performance:
On Thursday, Indian stock markets extended their gains for the second consecutive session:
- Sensex: Up 115.39 points (0.15%) to close at 76,520.38.
- Nifty 50: Rose 50 points (0.22%) to end at 23,205.35.
Key Drivers:
- Gift Nifty’s 30-point premium suggests a bullish opening for Indian markets.
- Global optimism fueled by expectations of interest rate cuts and cheaper oil prices.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
TOPICS:
Gift Nifty