Overnight Stock Market Movements: Key Developments 

The Indian equity markets are likely to open on a positive note on Friday, with the Sensex and Nifty 50 tracking mixed overnight cues from global markets.

Asian indices showed a mixed trend, while US markets closed higher overnight, supported by gains in banking and semiconductor stocks.

The BSE and NSE remained closed on Thursday due to a market holiday for municipal corporation elections in Maharashtra.

However, on Wednesday, Indian markets extended their decline for the second straight session, as continued uncertainty around an India–US trade agreement and sustained foreign investor selling kept market sentiment under pressure.

Domestic Market Recap

On Wednesday, Indian indices closed in the red:

• Sensex slumped by 244.98 points (0.29%) to close at 83,382.71
• Nifty 50 moved down by 66.70 points (0.26%) to settle at 25,665.60

Gift Nifty

Gift Nifty was trading near 25,787, around 68 points higher than the previous Nifty futures close, hinting at a positive start for Indian markets.

Overnight Wall Street Performance

The US stock market closed higher on Thursday, following a two-day losing streak that was led by chip and bank stocks.

• The Dow Jones Industrial Average gained by 292.87 points (0.60%) to close at 49,442.44.
• S&P 500 up by 17.87 points (0.26%), ending at 6,944.47.
• The Nasdaq Composite was higher by 58.27 points (0.25%), finishing at 23,530.02.

Gold Prices

• Spot gold was trading 0.49% lower at $4,596.86 per ounce.
• The US gold futures were lower by 0.53% at $4,599.09.

Crude Oil Prices

• Brent crude slipped by 4.15% to $63.76/barrel
• US West Texas Intermediate (WTI) crude was trading 0.25% higher at $59.34/barrel

Overnight Major Global Events Driving Sentiment

1. US Jobless Claims: Fewer Americans applied for unemployment benefits last week, surprising economists. Initial claims for state unemployment aid fell by 9,000 to a seasonally adjusted 198,000 for the week ended January 10. Economists surveyed by Reuters had expected claims to rise to around 215,000.
2. BMC Exit Poll Results: Exit polls indicate a comfortable win for the BJP-led Mahayuti alliance in the Brihanmumbai Municipal Corporation (BMC) elections. Surveys conducted by Axis My India, JVC, and Sakal predict a sweeping victory for the ruling alliance across Mumbai’s civic body. Maharashtra held voting for 29 municipal corporations, including the BMC, on January 15, and authorities will count the votes today, January 16.

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