The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Monday, tracking gains in overnight global markets.

Asian markets traded in the green, while US stocks rallied on growing expectations of a US Federal Reserve rate cut.

This week, investors will monitor several key triggers, including developments in the India–US trade deal, Q2 GDP data, rupee movements, foreign fund flows, gold price trends, geopolitical cues, and other major domestic and global macroeconomic indicators.

However, on Friday, the Indian stock market closed lower, ending its two-day winning streak as declines in major financial heavyweights dragged the indices down.

Domestic Market Recap

On Friday, Indian indices closed in the red:

• Sensex slumped by 400.76 points (0.47%) to close at 85,231.92
• Nifty 50 moved down by 124.00 points (0.47%) to settle at 26,068.15

Gift Nifty

Gift Nifty was trading near 26,166, around 89 points higher than the previous Nifty futures close, hinting at a positive start for Indian markets.

Overnight Wall Street Performance

The US stock market closed higher on Friday, but all three major indexes still recorded weekly losses as worries over stretched technology valuations persisted.

• The Dow Jones Industrial Average gained by 493.15 points (1.08%) to close at 46,245.41.
• S&P 500 up by 64.23 points (0.98%), ending at 6,602.99.
• The Nasdaq Composite was higher by 195.04 points (0.88%), finishing at 22,273.08.

Gold Prices 

Gold prices held steady as investors assessed the likelihood of another US Federal Reserve rate cut in the coming months. Spot gold rose 0.1% to $4,070.08 an ounce after falling 0.3% in the previous session.

Crude Oil Prices

• Brent crude slumped by 0.13% to $62.48/barrel
• US West Texas Intermediate (WTI) crude was trading 0.16% lower at $57.97/barrel

Overnight Major Global Events Driving Sentiment

1. Ukraine Peace Plan: The United States and Ukraine announced that they have developed an “updated and refined peace framework” to end the war with Russia. In a joint statement, both nations described the discussions as “constructive, focused, and respectful,” reaffirming their shared commitment to achieving a just and lasting peace.
2. US Federal Reserve: New York Fed President John Williams said the Federal Reserve can still cut interest rates “in the near term” without jeopardising its inflation target, Reuters reported. Meanwhile, Boston Fed President Susan Collins said she remains hesitant about supporting an interest rate cut next month, citing ongoing risks to both inflation and employment.
3. Forex Reserves: India’s forex reserves rose by $5.543 billion to $692.576 billion for the week ended 14 November, driven by a sharp increase in the value of gold reserves. In the previous week, total reserves had declined by $2.699 billion to $687.034 billion.

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!