The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open on a cautious note on Friday, following weakness in global markets on rising US-China trade tensions. The trends on Gift Nifty also signal a negative start for the Indian stock market today.
Asian markets traded lower, while the US stock market slipped overnight, as US-China trade tensions intensified.
On Thursday, the Indian stock market ended with stellar gains, extending its rally for the second consecutive session, with both the benchmark indices jumping a percent each.
The Sensex surged 862.23 points, or 1.04%, to close at 83,467.66, while the Nifty 50 settled 261.75 points, or 1.03%, higher at 25,585.30.
“Positive global cues along with appreciating rupee and hopes of pick up in corporate earnings in the coming weeks aided the rally. However, choppy FII trend remains a major concern as US-India tariff issues coupled with geo-political tension could fuel outflows and weigh on markets,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
Here are key global market cues for Sensex today:
Asian Markets
Asian markets traded lower on Friday, following overnight losses on Wall Street amid rising trade tensions. Japan’s Nikkei 225 fell 1.02%, while the Topix declined 0.83%. South Korea’s Kospi dropped 0.47%, but the Kosdaq rose 0.15%. Hong Kong’s Hang Seng Index futures indicated a lower opening.
Gift Nifty Today
Gift Nifty was trading around 25,622 level, a discount of nearly 34 points from the Nifty futures’ previous close, indicating a mildly negative start for the Indian stock market indices.
Wall Street
US stock market ended lower on Thursday, weighed down by selling in financial stocks, and as emerging credit crisis and US-China trade tensions dampened investor risk-appetite.
The Dow Jones Industrial Average declined 301.07 points, or 0.65%, to 45,952.24, while the S&P 500 dropped 41.98 points, or 0.63%, to 6,629.08. The Nasdaq Composite closed 107.54 points, or 0.47%, lower at 22,562.54.
Nvidia share price gained 1.10%, Advanced Micro Devices shares fell 1.69%, Apple stock price declined 0.76%, while Tesla stock price dropped 1.47%.
Trump-Putin Meet
US President Donald Trump and Russian President Vladimir Putin agreed to another summit on the war in Ukraine. Trump and Putin may meet within the next two weeks in Budapest, the US president said, after a more than two-hour phone conversation he called productive.
US Federal Reserve
US Fed Governor Christopher Waller said he is on board with another interest rate cut at the US central bank’s meeting later this month. Stephen Miran, the Fed’s newest governor, reiterated support for more aggressive rate cuts at upcoming meetings than the one favored by some of his colleagues.
Infosys Q2 Results
Infosys Q2 net profit rose 6.4% QoQ to ₹7,365 crore, while revenue grew 5.2% QoQ to ₹44,490 crore. Revenue in dollar terms grew 2.7% QoQ to $5,076 million. EBIT increased 6.35% QoQ to ₹9,353 crore, while EBIT margin improved by 20 bps QoQ to 21%.
The IT giant increased its constant currency revenue growth guidance for FY26 to between 2% to 3% from 1% to 3%. It maintained operating margin guidance of 20% – 22% for FY26. Infosys also declared a dividend of ₹23 per share, and the dividend record date has been fixed as October 27, 2025.
Wipro Q2 Results
Wipro reported a consolidated net profit of ₹3,246 crore in Q2FY26. IT services revenue rose 2.5% QoQ to ₹22,641 crore. Revenue in dollar terms grew 0.6% QoQ to $2,604.3 million, while CC revenue growth was 0.3% QoQ. IT services EBIT increased 6% QoQ to ₹3,783 crore, while IT EBIT margin improved by 50 bps QoQ to 16.7%.
Wipro expects IT Services business revenue to be in the range of $2,591 million to $2,644 million in Q3FY26, translating to sequential guidance of -0.5% to +1.5% in constant currency terms.
Gold Prices
Gold prices extended its record-breaking rally, poised for their best weekly performance in 17 years. Spot gold price rose 0.9% to $4,364.79 per ounce, after hitting a record high of $4,378.69. US gold futures for December delivery gained 1.6% to $4,373.20.
Dollar
The dollar index is set for its biggest weekly drop in almost three months. The dollar index, which measures the greenback against a basket of currencies, was little changed at 98.23. Against the Japanese yen, the dollar weakened 0.2% to 150.12, Reuters reported. The euro added 0.1% at $1.1701, while sterling also tacked on 0.1% to $1.3446.
US Treasury yields dropped with the yield on the two-year note hitting its lowest level in more than three years. The benchmark US 10-year yield fell 6.9 bps to 3.976%, and the 30-year bond yield fell 5 bps to 4.5891%. The 2-year note yield fell 8.4 bps to 3.422%.
Crude Oil Prices
Crude oil prices fell, heading for a weekly loss, with uncertainty over global energy supplies. Brent crude futures fell 0.13% to $60.98 a barrel, while US West Texas Intermediate futures declined 0.16% to $57.37.
(With inputs from Reuters)
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