From mint · Vaamanaa Sethi · · 1m 20s
Stock Market Outlook: Sensex, Nifty Predicted Strong Start
Indian markets poised for strong opening as GIFT Nifty rises 1.5% ahead of US election impact.
In brief
Indian markets poised for strong opening as GIFT Nifty rises 1.5% ahead of US election impact. Indian stock indices expected to open strongly after GIFT Nifty rises 1.5% and US election results boost global risk sentiment. Originally reported by mint.
Indian Stock Market Outlook
GIFT Nifty trading around 24,300 level, up nearly 350 points or 1.50% from previous close.
“Indian equity markets are poised for a strong opening on Thursday, with sentiment receiving a boost from a sharp retreat in international crude oil prices.”
Sensex Performance Yesterday
Sensex closed at 77,301.40, gaining 383.55 points (0.50%) after five consecutive winning days.
“Indian equities extended their winning streak to a fifth consecutive session on Wednesday, as easing crude oil prices and prospects of further progress in U.S., Iran diplomatic negotiations encouraged broad-based domestic buying.”
Nifty 50 Performance Yesterday
Nifty 50 closed at 23,960.60, rising 149.75 points (0.63%) with strong sectoral gains.
“Capital goods, metals, fmfg, automobiles and financial services led the advance, reflecting firmer domestic risk appetite and support from lower crude oil prices.”
US Market Reaction
Wall Street rallied sharply after Democrats secured sweeping victories in US midterm elections.
“Wall Street's benchmark indices rallied sharply after Democrats secured victories in both the House of Representatives and the Senate in the US midterm elections.”
Dow Jones Performance
Dow Jones surged 3% to close above 53,000 mark for first time since September 8.
“The Dow Jones Industrial Average surged 3%, gaining more than 1,500 points to close above the 53,000 mark for the first time since September 8.”
Nasdaq Performance
Nasdaq futures jumped 1.6% after election-driven recovery from previous session's drop.
“Nasdaq futures jumped 1.6% on Wednesday. The index had plunged more than 650 points after the election outcome became clear but subsequently recovered all their losses, with the index ending the session firmly in positive territory.”
S&P 500 Performance
S&P 500 advanced over 1.5% on Wednesday following US election results.
“Meanwhile, S&P index advanced over 1.5% on Wednesday.”
Kospi Reaction
Kospi briefly plunged 4% due to AI data center regulations concerns.
“Concerns surrounding potential regulations on AI data centre construction following the US midterm elections triggered a sell-side circuit breaker in South Korea's KOSPI during early trading.”
Nikkei 225 Movement
Nikkei 225 fell 1.24% to 61,417.15 after political uncertainty cleared.
“Japan's Nikkei 225 rose over 0.50% in the early trade, however, soon pared gains to turn red. The index fell over 1.24% to 61,417.15 on Thursday, following the clearance of post-election political uncertainty.”
Taiwan Stock Market
Taiwan stock market fell 1.81% to 42,171.78 amid election-related volatility.
“Taiwan stock market also traded in red with Taiex index falling up to 1.81% to 42,171.78.”
The bottom line
Indian stock indices expected to open strongly after GIFT Nifty rises 1.5% and US election results boost global risk sentiment.
