The equity benchmark indices, Sensex and Nifty 50, will likely open higher on Friday as global markets rallied overnight strongly.

Asian markets traded higher, while the US stock market surged overnight, with all three major Wall Street indices closing at record highs.

However, on Thursday, the Indian stock market advanced, with the benchmark Nifty 50 closing above the 25,000 mark.

Domestic Market Recap

On Thursday, Indian indices closed in the green:

• Sensex gained by 123.58 points (0.15%) to close at 81,548.73
• Nifty 50 moved up by 32.40 points (0.13%) to settle at 25,005.50

Gift Nifty

Gift Nifty was trading near 25,181, around 77 points higher than the previous Nifty futures close, hinting at a positive start for Indian markets.

Wall Street Performance

Wall Street’s main indexes closed at record highs as the US stock market rallied on upbeat inflation data.

• The Dow Jones Industrial Average soared by 617.08 points (1.36%) to close at 45,108.
• S&P 500 up by 55.43 points (0.85%), ending at 6,587.47.
• The Nasdaq Composite was trading higher by 157.01 points (0.72%), finishing at 22,043.07.

Gold Prices

• Spot gold was trading up by 0.1% at $3,637.06/oz
• US gold futures were trading steady at $3,674.20

Crude Oil Prices

Crude oil prices fell as worries over oversupply and weakening US demand weighed on the market.

• Brent crude slumped by 0.45% to $66.07/barrel
• US West Texas Intermediate (WTI) crude was trading 0.50% lower at $62.06/barrel

Overnight Major Global Events Driving Sentiment

1. India-US Trade Deal: US ambassador-designate to India Sergio Gor said India and the US remain “not that far apart” on a trade deal. Union Minister Piyush Goyal indicated that India and the US plan to finalise the first tranche of the agreement by November 2025.
2. US Jobless Claims: Americans filed jobless claims sharply higher last week, as initial applications for state unemployment benefits jumped by 27,000 to a seasonally adjusted 263,000 for the week ended September 6.
3. US Inflation: US consumer prices climbed at the fastest pace in seven months in August. CPI rose 0.4% last month, the biggest increase since January, after a 0.2% gain in July. On a yearly basis, CPI advanced 2.9% through August, the largest rise since January, following a 2.7% increase in July.

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