The Indian benchmark indices, Sensex and Nifty 50, are likely to open cautiously on Friday as investors track overnight mixed global cues.

Asian markets traded mostly higher, with Japan’s Nikkei reaching a new all-time high, while U.S. markets closed lower overnight due to weakness in technology stocks.

However, on Thursday, Indian equities ended in the red, with the Nifty 50 slipping below the 25,900 mark.

Domestic Market Recap

On Thursday, Indian indices closed in the red:

• Sensex slumped by 592.67 points (0.70%) to close at 84,404.46
• Nifty 50 moved down by 176.05 points (0.68%) to settle at 25,877.85

Gift Nifty

Gift Nifty was trading near 26,057, around 25 points higher than the previous Nifty futures close, hinting at a positive start for Indian markets.

Overnight Wall Street Performance

The U.S. stock market closed lower on Thursday, as declines in technology stocks pulled down both the Nasdaq Composite and the S&P 500 indices.

• The Dow Jones Industrial Average slumped by 109.88 points (0.23%) to close at 47,522.12.
• S&P 500 down  by 68.25 points (0.99%), ending at 6,822.34.
• The Nasdaq Composite was trading lower by 377.33 points (1.57%), finishing at 23,581.14.

Crude Oil Prices

• Brent crude slumped 0.40% to $64.74/barrel
• US West Texas Intermediate (WTI) crude was trading 0.43% lower at $60.31/barrel

Gold Prices 

• Spot gold was trading 0.3% higher at $4,034 per ounce.
• The US gold futures slumped by 1.1% at $3,955.

Overnight Major Global Events Driving Sentiment

1. US Jobless Claims: The number of Americans filing for new unemployment benefits fell last week. Initial state jobless claims dropped to a seasonally adjusted 219,000 for the week ending October 25, down from 232,000 the previous week.
2. ECB Policy: The European Central Bank (ECB) decided to keep interest rates steady at 2% for the third consecutive meeting, reaffirming that its policy remains in a “good place” as economic risks ease. The ECB has maintained this stance since reducing rates by a total of 2 percentage points up to June.

Ready to invest like a pro? Unicorn Signals app equips you with 100+ Free tools and knowledge you need to succeed. Download the Unicorn Signals app and gain access to daily stock lists and insightful market analysis and much more!