Gift Nifty Trade Lower: Indian Markets Likely to Open Lower Amid Weak Global Cues

Indian benchmark indices, the Sensex and Nifty 50, are expected to open on a weaker note this Friday, tracking losses across global markets. Overnight declines on Wall Street and a mixed performance in Asian equities have dampened investor sentiment.

Gift Nifty Signals Negative Start

The Gift Nifty was trading around 25,238 in early deals, reflecting a 36-point discount to the Nifty futures' previous close. This indicates a slightly negative bias for the Indian market at the open.

Global Market Overview

US stocks closed in the red on Thursday as markets entered a phase of consolidation ahead of the upcoming Q3 earnings season. The Dow Jones Industrial Average dropped 243.36 points (0.52%) to end at 46,358.42, while the S&P 500 slipped 18.61 points (0.28%) to 6,735.11. The Nasdaq Composite edged down 18.75 points (0.08%) to settle at 23,024.63.

In Asia, markets traded mostly lower on Friday. Japan’s Nikkei 225 slipped 0.60%, and the broader Topix index was down 0.92%. On the other hand, South Korea’s Kospi gained 1.88%, while the Kosdaq declined 0.37%. Hong Kong’s Hang Seng index also pointed to a weaker opening.

Domestic Market Recap

Despite the global volatility, Indian markets closed higher on Thursday, supported by broad-based buying. The BSE Sensex jumped 398.44 points (0.49%) to close at 82,172.10, while the Nifty 50 rose 135.65 points (0.54%) to settle at 25,181.80.

Also Read: Passive Mutual Funds Gain Momentum in India with Assets Surging to ₹12.2 Lakh Crore

Israel-Hamas Ceasefire

On the geopolitical front, Israel's government has approved a ceasefire agreement with the Palestinian group Hamas. The deal is expected to bring a temporary halt to hostilities in Gaza within 24 hours and facilitate the release of Israeli hostages within the next 72 hours.

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