Indian equity benchmarks Sensex and Nifty 50 are likely to start Friday’s session on a weaker note, as investors take cues from mixed overnight global markets and stay cautious ahead of the Union Budget 2026.

Asian markets moved higher, while Wall Street closed mostly lower overnight due to selling pressure in technology stocks.

However, on Thursday, Indian markets continued their upward momentum for the third straight session after the Economic Survey 2026 indicated that the Indian economy is expected to stay resilient despite ongoing geopolitical headwinds.

Domestic Market Recap

On Thursday, Indian indices closed in the green:

• Sensex gained by 221.69 points (0.27%) to close at 82,566.37
• Nifty 50 moved up by 76.15 points (0.30%) to settle at 25,418.90

Gift Nifty

Gift Nifty was trading near 25,464, around 71 points lower than the previous Nifty futures close, hinting at a negative start for Indian markets.

Overnight Wall Street Performance

The US stock market closed on a negative note on Thursday, following selling pressure from Technology stocks. 

• The Dow Jones Industrial Average gained by 55.96 points (0.11%) to close at 49,071.56.
• S&P 500 down by 9.02 points (0.13%), ending at 6,969.01.
• The Nasdaq Composite was lower by 172.33 points (0.72%), finishing at 23,685.12.

Gold Prices

• Spot gold was trading 1.86% lower at $5,228.71 per ounce.
• The US gold futures were lower by 1.73% at $5,256.04.

Crude Oil Prices

• Brent crude slumped by 1.39% to $68.62/barrel
• US West Texas Intermediate (WTI) crude was trading 1.50% lower at $64.44/barrel

Overnight Major Global Events Driving Sentiment

1. Russia–Ukraine Ceasefire: 
2. US President Donald Trump said Russian President Vladimir Putin agreed to halt attacks on Kyiv and other cities for a week because of extreme cold conditions. Trump stated that he personally requested the pause during a conversation with Putin, who accepted the proposal in view of the harsh winter weather.
3. US Jobless Claims: Fewer Americans filed new applications for unemployment benefits last week. Initial jobless claims slipped by 1,000 to a seasonally adjusted 209,000 for the week ended January 24. The previous week’s figure was revised higher by 10,000 to 210,000. Economists surveyed by Reuters had expected claims to come in at 205,000.
4. US Government Shutdown: President Donald Trump and Senate Democrats reached a preliminary agreement to prevent a US government shutdown. According to Bloomberg, the deal comes as the White House continues talks with Democrats over proposed limits on immigration raids that have triggered widespread public backlash.

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