The Indian stock market benchmark indices, BSE Sensex and Nifty 50, are likely to open cautiously on Friday amid mixed overnight global market cues.

Asian markets traded on a mixed note, while the US stock market closed higher overnight, driven by a rally in technology shares.

However, on Thursday, the Indian stock market ended with strong gains as a short-covering rally lifted benchmark indices after the recent decline.

Domestic Market Recap

On Thursday, Indian indices closed green:

• Sensex soared by 789.74 points (1.06%) to close at 75,398.72
• Nifty 50 moved up by 277.00 points (1.18%) to settle at 23,689.60

Gift Nifty

Gift Nifty was trading near 23,690, around 10 points lower than the previous Nifty futures close, hinting at a lacklustre start for Indian markets.

Overnight Wall Street Performance

The US stock market closed higher on Thursday, driven by a rally in technology stocks, with the S&P 500 and Nasdaq Composite ending at record closing highs.

• The Dow Jones Industrial Average slipped 370.26 points (0.75%) to close at 50,063.46.
• S&P 500 was up by 56.99 points (0.77%), ending at 7,501.24.
• The Nasdaq Composite was higher by 232.88 points (0.88%), finishing at 26,635.22.

Crude Oil Prices

• Brent crude gained by 0.57% to $106.32/barrel
• US West Texas Intermediate (WTI) crude was trading 0.53% higher at $101.71/barrel

Overnight Major Global Events Driving Sentiment

1. Trump–Xi Meeting: US President Donald Trump began a two-day visit to Beijing, where he held bilateral talks with Chinese President Xi Jinping. The summit focused on preserving the fragile trade truce reached during their October meeting, when Trump suspended triple-digit tariffs on Chinese goods and Xi eased restrictions on global rare earth supplies.
2. US–Iran War: Iranian personnel reportedly seized a ship near the United Arab Emirates and redirected it toward Iranian waters. Meanwhile, the White House said Trump and Xi agreed on the importance of keeping the Strait of Hormuz shipping route open. Although the US paused direct attacks on Iran last month, it continues to enforce a blockade on Iranian ports.
3. US Retail Sales: US retail sales rose further in April, signaling resilient consumer demand. Retail sales increased 0.5% last month after a revised 1.6% jump in March.
4. Bitcoin Price Today: Bitcoin surged above $81,000 amid a broader rally in the cryptocurrency market after the US Senate Banking Committee advanced a digital asset market structure bill. Bitcoin climbed 2.44% to $81,517.46, while Ethereum gained 1.03% to $2,289.69.

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