The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open higher on Thursday, following upbeat global market cues.
Asian markets traded higher, while the US stock market indices ended mostly in the green after strong earnings from major banks.
On Wednesday, the Indian stock market ended with strong gains, with the benchmark indices rallying over half a percent each.
The Sensex jumped 575.45 points, or 0.70%, to close at 82,605.43, while the Nifty 50 settled 178.05 points, or 0.71%, higher at 25,323.55.
“We maintain a bullish bias and continue to advocate a “buy on dips” approach as long as the index holds above the 25,000 support zone. Sector rotation currently favors banking, metals, and auto, while defensives like FMCG and pharma may continue to underperform in the near term so participants should align their positions accordingly,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.
Here are key global market cues for Sensex today:
Asian Markets
Asian markets traded higher on Thursday, tracking overnight gains on Wall Street. Japan’s Nikkei 225 index jumped 0.95%, while the Topix index gained 0.8%. South Korea’s Kospi index rallied 1.09%, while the Kosdaq rose 0.2%. Hong Kong’s Hang Seng Index futures indicated a lower opening.
Gift Nifty Today
Gift Nifty was trading around 25,451 level, a premium of nearly 26 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.
Wall Street
US stock market ended mostly higher on Wednesday as investors remained focused on the recent increase in US-China trade tensions.
The Dow Jones Industrial Average fell 0.04% to 46,253.31, while S&P 500 gained 0.40% to end the session at 6,671.06. The Nasdaq closed 0.66% higher at 22,670.08.
Morgan Stanley share price jumped 4.7% to a record high, while Bank of America stock price rallied 4.4%. Advanced Micro Devices shares surged 9.40%, Intel stock price gained 4.27%, while Tesla stock price rose 1.38%. Abbott shares declined 2.4% and Progressive Corp shares fell 5.8%.
RBI Minutes
Reserve Bank of India Governor Sanjay Malhotra and other members of the monetary policy committee (MPC) saw room for an interest rate cut earlier this month, but left the decision for an opportune time, the MPC meeting minutes showed. During the meeting, Malhotra said the benign outlook for headline and core inflation as a result of the downward revision of projections opens up policy space to further support growth.
India-US Trade Talks
In a major update related to the India-US trade talks, sources in the government said on Wednesday (October 15) that a negotiating team is currently in the US, trying to find a “win-win solution” for both sides. Sources told news agency ANI, “Engagement between the two sides is going on.”
India’s Russian Oil Purchases
US President Donald Trump said Indian Prime Minister Narendra Modi vowed to halt purchases of Russian oil. “I was not happy that India was buying oil, and he assured me today that they will not be buying oil from Russia,” Trump told reporters, referring to Modi. “That’s a big step. Now I’ve got to get China do the same thing.”
India Unemployment Rate
India’s unemployment rate increased marginally to 5.2% in September from 5.1% in August owing to a rise in joblessness in both rural and urban areas. Unemployment in rural areas rose to 4.6% in September from 4.3% in August, while urban unemployment inched up to 6.8% from 6.7% over the same period.
Axis Bank Q2 Results
Axis Bank’s Q2FY26 net profit fell 26% to ₹5,090 crore from ₹6,918 crore in the year-ago quarter, impacted by an additional one-time standard asset provision. NII rose 2% YoY to ₹13,745 crore. Asset quality of Axis Bank improved sequentially as gross NPA ratio fell 11 bps QoQ to 2.46%, while net NPA ratio eased 1 bps QoQ to 0.44%.
Gold Prices
Gold prices hit a record high on safe-haven demand amid persistent geopolitical and economic uncertainties, and hopes of US interest rate cuts. Spot gold price rose 0.4% to $4,224.79 per ounce, after hitting a record high of $4225.69. US gold futures for December delivery gained 0.9% to $4,239.70.
Crude Oil Prices
Crude oil prices rallied after US President Donald Trump said that Indian Prime Minister Narendra Modi had pledged to stop buying oil from Russia. Brent crude oil gained 0.89% to $62.46 a barrel, while the US West Texas Intermediate (WTI) crude futures surged 0.93% to $58.79.
(With inputs from Reuters)
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