The Indian stock market is expected to open strong on Friday, supported by positive global cues. The Dow and S&P 500 closed at record highs overnight after the US Federal Reserve cut interest rates, boosting investor sentiment.
Asian markets also rose following gains in Wall Street, adding to the positive setup for Indian equities. The Gift Nifty trends point to another robust start for domestic markets, with the Gift Nifty trading near its record high at 26,134, up 108 points or 0.4% from the previous close of Nifty futures.
The US Federal Reserve cut interest rates by 25 basis points and indicated one more reduction next year, leading to a strong rebound in the Indian stock market on Thursday. The Sensex climbed 427 points to 84,818.13, up 0.51%, while the Nifty 50 gained 141 points to settle at 25,898.55, rising 0.55%.
The Bank of Japan is set to raise its policy interest rate next week, while the US trade deficit unexpectedly narrowed in September. Prime Minister Narendra Modi and US President Donald Trump held a phone conversation to discuss expanding cooperation across multiple sectors.
The US dollar hit a multi-year low, while gold prices slipped after touching a seven-week high. Oil prices rebounded from its lowest close in nearly two months, supported by renewed optimism across global financial markets.
The global market trends and stock market news are indicating a positive start for the Indian stock market. With the Sensex and Nifty 50 poised for a strong opening, investors are hoping for a continuation of the bullish trend in the market.
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