Gift Nifty Hints at Mildly Positive Start; Sensex, Nifty May Open Cautious on Oct 31

India’s benchmark indices, Sensex and Nifty 50 likely to open cautiously on Friday, taking mixed signals from global markets.

Gift Nifty Today

The Gift Nifty traded around the 26,057 mark, showing a premium of about 25 points over the previous close of Nifty futures, suggesting a mildly positive start for benchmark indices.

Asian Market Overview

Asian shares traded mostly higher on Friday after a meeting between US President Donald Trump and Chinese President Xi Jinping boosted sentiment. Japan’s Nikkei 225 surged 1.7% to a new record high, while the Topix gained 0.79%. South Korea’s Kospi rose 0.20%, and the Kosdaq added 0.47%. However, Hong Kong’s Hang Seng index futures indicated a weaker opening.

Wall Street Insights

US markets ended lower overnight, weighed down by a selloff in technology stocks. The Dow Jones Industrial Average declined 0.23% to 47,522.12, the S&P 500 fell 0.99% to 6,822.34, and the Nasdaq Composite dropped 1.57% to 23,581.14.

Domestic Market Recap

On Thursday, domestic markets ended lower, with the Sensex falling 592.67 points (0.70%) to 84,404.46 and the Nifty 50 slipping 176.05 points (0.68%) to close below the 25,900 mark at 25,877.85.

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Conclusion

Despite weakness in global equities, Gift Nifty’s marginal uptick points to a steady opening for Indian markets. Investors may remain cautious ahead of key domestic and global cues.

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