Indian stock markets are expected to start Friday on a positive note, with both the Sensex and Nifty likely to open higher.
Why the market may rise
Analysts say investors are looking at three main factors: the latest earnings reports, progress on the India‑US trade talks, and clues from the upcoming budget.
Global market cues
- Asian markets were mixed on Friday – Japan fell, South Korea edged up, and Hong Kong futures pointed higher.
- In the United States, major indexes closed higher, led by banks and chip makers.
- The Gift Nifty was around 25,787, about 68 points above the previous Nifty futures close, suggesting a positive start.
Recent Indian market performance
On Wednesday, the Sensex fell 245 points (‑0.29%) to 83,382.71 and the Nifty slipped 67 points (‑0.26%) to 25,665.60. The drop followed ongoing concerns about the India‑US trade deal and continued foreign fund outflows.
Key U.S. data
- U.S. initial jobless claims fell to 198,000, better than the forecast of 215,000.
- The U.S. dollar rose to a six‑week high, pushing the euro and yen lower.
- Gold prices slipped as the stronger dollar reduced safe‑haven demand.
- Crude oil steadied after a sharp fall, with Brent at $63.76 and WTI at $59.34.
Local political update
Exit polls predict a comfortable win for the BJP‑led alliance in Maharashtra’s municipal corporation elections, with results expected today.
What investors should watch
- Any new developments in the India‑US trade negotiations.
- Signals from the upcoming Union Budget.
- Continued strength or weakness in U.S. equity markets.
- Currency movements, especially the rupee’s response to a strong dollar.
Remember, this is just an overview, not a prediction. Do your own research and consider your risk tolerance before making any investment decisions.