Gift Nifty in Green; Sensex and Nifty 50 Likely to Open Positively on Oct 27

India’s benchmark indices, Sensex and Nifty 50 are expected to open on a positive note on Monday, tracking strong global cues. 

Gift Nifty Today

The Gift Nifty was trading around 25,936, up nearly 121 points from the Nifty futures’ previous close, suggesting a gap-up start for benchmark indices.

Asian Market Overview

Asian markets traded higher as investors welcomed progress in US-China trade negotiations. Japan’s Nikkei 225 surged 2.02%, crossing the 50,000 mark for the first time, while the Topix gained 1.61%. South Korea’s Kospi rose 1.83%, and the Kosdaq added 0.72%. Hong Kong’s Hang Seng Index futures also pointed to a firm start.

Wall Street Insights

US markets ended Friday’s session at all-time highs, supported by softer inflation data and strong corporate earnings. The Dow Jones Industrial Average advanced 472.51 points, or 1.01%, to 47,207.12. The S&P 500 gained 53.25 points, or 0.79%, to 6,791.69, and the Nasdaq Composite climbed 263.07 points, or 1.15%, to 23,204.87.

Domestic Market Recap

On Friday, domestic markets snapped a six-day winning streak due to profit booking. The Sensex fell 344.52 points, or 0.41%, to close at 84,211.88, while the Nifty 50 slipped 96.25 points, or 0.37%, to end at 25,795.15.

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Conclusion

With global equities rallying and optimism surrounding US-China trade discussions, market sentiment appears buoyant. Gift Nifty’s premium over the previous close points to a firm opening for Indian indices, indicating that investors may start the week with a positive outlook.

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