Overnight Stock Market Movements: Key Developments 

The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Friday, supported by positive overnight global cues and optimism over a potential India-US trade deal.

Asian markets traded higher, while US markets rallied overnight after confirmation of the upcoming Donald Trump–Xi Jinping meeting, which boosted investor confidence.

However, on Thursday, the Indian stock market extended its winning streak for the sixth consecutive session, with both benchmark indices closing higher once again.

Domestic Market Recap

On Thursday, Indian indices closed in the green:

• Sensex soared by 130.06 points (0.15%) to close at 84,556.40
• Nifty 50 moved up by 22.80 points (0.09%) to settle at 25,891.40

Gift Nifty

Gift Nifty was trading near 26,033, around 56 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, driven by gains in technology stocks, despite a mixed set of corporate earnings reports.

• The Dow Jones Industrial Average gained by 144.20 points (0.31%) to close at 46,734.61.
• S&P 500 up by 39.03 points (0.58%), ending at 6,738.43.
• The Nasdaq Composite was trading higher by 201.40 points (0.89%), finishing at 22,941.80.

Crude Oil Prices

• Brent crude slumped 0.30% to $65.79/barrel
• US West Texas Intermediate (WTI) crude was trading 0.26% higher at $61.63/barrel

Gold Prices 

• Spot gold was trading 0.3% higher at $4,138.52 per ounce.
• The US gold futures gained by 0.2% at $4,152.30.

Overnight Major Global Events Driving Sentiment

1. Defence Acquisition Council: Chaired by Raksha Mantri Rajnath Singh, the Defence Acquisition Council (DAC) approved several proposals worth Rs 79,000 crore for the Armed Forces. The government granted Acceptance of Necessity (AoN) to the Indian Army for procuring the Nag Missile System (Tracked) Mk-II (NAMIS), Ground-Based Mobile ELINT System (GBMES), and High Mobility Vehicles (HMVs) equipped with Material Handling Cranes.
2. US Jobless Claims: Economists estimated on Thursday that the number of Americans filing new unemployment claims rose last week. Initial jobless claims increased to a seasonally adjusted 232,000 for the week ending October 18, up from 220,000 the previous week.
3. Vladimir Putin on US Sanctions: Russian President Vladimir Putin asserted that Russia would never yield to pressure from the United States or any other nation, warning that any attacks deep into Russian territory would trigger a “serious and overwhelming” response. He described US sanctions as “unfriendly” and acknowledged that while they would have consequences, they would not significantly impact Russia’s economic stability.
4. Japan Inflation, PMI: Japan’s core consumer prices rose 2.9% year-on-year in September, remaining above the Bank of Japan’s 2% target. The increase in the core CPI, which excludes volatile fresh food but includes fuel costs, matched market expectations and accelerated from 2.7% in August. Meanwhile, Japan’s manufacturing sector contracted at the fastest rate in 19 months, as the S&P Global Flash Japan Manufacturing PMI dropped to 48.3 in October from 48.5 in September — the lowest since March 2024.

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