The Indian stock market benchmarks, Sensex and Nifty 50, are poised to open higher on Thursday amid optimism over a potential India-US trade deal. Asian markets, however, traded lower, while Wall Street ended in the red overnight due to US-China trade tensions and mixed corporate earnings.
On Tuesday, during the special Diwali Muhurat session, Sensex rose 62.97 points, or 0.07%, to close at 84,426.34, and Nifty 50 gained 25.45 points, or 0.10%, to 25,868.60. The market remained closed on Wednesday for Diwali Balipratipada. Vinit Bolinjkar, Head of Research at Ventura Securities, noted that Nifty’s CY26 forward P/E of 18X is slightly above the historical average, limiting further downside, and projected Nifty at 27,600 and Sensex at 90,100 in the next Samvat year.
In Asia, Japan’s Nikkei 225 fell 1.28%, Topix declined 0.71%, South Korea’s Kospi dropped 0.54%, and Kosdaq lost 1%, with Hang Seng futures pointing to a weaker start. GIFT Nifty traded around 26,281, signaling a strong gap-up opening for Indian indices.
Globally, crude oil prices surged over 2% following US sanctions on Russian oil firms, while gold slid toward $4,090 an ounce. Tesla posted record Q3 revenue but missed profit estimates, leading to a 3.8% drop in its stock after hours.
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