Sensex and Nifty 50 are likely to start flat on Friday as overnight global cues remain mixed. Asian markets traded on both sides of the line, while US equities rose, driving the S&P 500 and Nasdaq to record closing highs.
However, on Thursday, profit-taking late in the session pushed Indian stocks lower, extending their decline into a second straight day.
Domestic Market Recap
On Thursday, Indian indices closed in the red:
- Sensex slumped by 170.22 points (0.20%) to close at 83,239.47
- Nifty 50 moved down by 48.10 points (0.19%) to settle at 25,405.30
Gift Nifty
Gift Nifty was trading near 25,526, around 18 points higher than the previous Nifty futures close, hinting at a positive start for Indian markets.
Wall Street Performance
US stocks rose on Thursday, with both the S&P 500 and Nasdaq finishing at record highs, as investors celebrated a surprisingly robust US jobs report.
- Dow Jones Industrial Average gained by 344.11 points (0.77%) to close at 44,828.53.
- S&P 500 up by 51.94 points (0.83%), ending at 6,279.36.
- The Nasdaq Composite was trading higher by 207.97 points (1.02%), finishing at 20,601.10.
Gold Prices
- Spot gold was trading flat at $3,328.36/oz
- US gold futures slumped by 0.1% at $3,337.90
Overnight Major Global Events Driving Sentiment
- Big “Beautiful” Bill Passed: The US House of Representatives approved President Trump’s $3.4 trillion “One Big Beautiful Bill” by a 218–214 vote. The legislation makes the 2017 tax cuts permanent, introduces additional tax breaks, and funds expanded immigration enforcement.
- Nvidia Share Price: Nvidia’s shares briefly reached an all‑time high, driving its market cap near $4 trillion and making it the world’s most valuable company. The stock closed up 1.33% at $159.34, valuing Nvidia at $3.89 trillion, surpassing both Apple and Microsoft.
- US Jobless Claims: Initial claims for US unemployment benefits fell by 4,000 to a six‑week low of 233,000 for the week ended June 28. This marked the lowest level since mid‑May.
- US Nonfarm Payrolls: US nonfarm payrolls rose by 147,000 in June, exceeding economists’ forecast of 110,000 and following an upwardly revised gain of 144,000 in May.
- US Unemployment Rate: The Labour Department reported that the unemployment rate declined to 4.1% in June from 4.2% in May, partly due to a decrease in the labour force participation rate.
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