India’s key stock market indices, Sensex and Nifty 50, are likely to open slightly higher on Friday, taking cues from mixed overnight global markets.

Most Asian markets traded lower, while US stock futures hovered flat during the holiday-shortened week.

However, on Thursday, the Indian benchmark indices closed flat but with a slight positive bias after touching record highs during intraday trade.

Domestic Market Recap

On Thursday, Indian indices closed in the green:

• Sensex gained by 110.87 points (0.13%) to close at 85,720.38
• Nifty 50 moved up by 10.25 points (0.04%) to settle at 26,215.55

Gift Nifty

Gift Nifty was trading near 26,420, around 29 points higher than the previous Nifty futures close, hinting at a positive start for Indian markets.

Overnight Wall Street Performance

The US stock market remained closed on Thursday for the Thanksgiving Day holiday. Markets will shut early at 1 p.m. ET on Friday. Despite the shortened trading week, stock futures held steady. Dow Jones Industrial Average futures inched up 10 points, while S&P 500 and Nasdaq-100 futures traded slightly higher.

Gold Prices 

Gold prices climbed to a two-week high as traders increased their bets on an interest rate cut by the US Federal Reserve next month.

• Spot gold was trading 0.6% higher at $4,180.89 per ounce.
• The US gold futures rose by 0.3% at $4,215.80.

Crude Oil Prices

• Brent crude gained by 0.06% to $63.38/barrel
• US West Texas Intermediate (WTI) crude was trading 0.63% lower at $59.02/barrel

Overnight Major Global Events Driving Sentiment

1. Russia–Ukraine Peace Plan: Russian President Vladimir Putin said the draft peace framework discussed by the United States and Ukraine could serve as the foundation for future agreements to end the war. He added that if the proposal does not move forward, Russia is prepared to continue fighting.
2. Tokyo Inflation: Consumer inflation in Tokyo remained well above the Bank of Japan’s 2% target in November. The city’s core consumer price index (CPI), which excludes fresh food prices, increased 2.8% year-on-year—unchanged from October and nearly in line with the market expectation of a 2.7% rise.

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