On Friday, October 24, equity benchmark indices Sensex and Nifty 50 are expected to see a positive start, following positive global market cues, and upbeat domestic sentiment on expectations of the India-US trade deal.
Trends on the GIFT Nifty indicate a positive start for Indian equities, as the index was trading 19 points higher at 26,030 around 7:17 AM.
In early trade, Asian markets traded higher, while the US stock market rallied overnight, as confirmation of the upcoming Donald Trump-Xi Jinping meeting improved sentiment.
Meanwhile, the Defence Acquisition Council (DAC), led by Defence Minister Rajnath Singh, has cleared multiple procurement proposals worth ₹79,000 crore for the Indian Armed Forces. The approvals include an Acceptance of Necessity (AoN) for systems such as the Nag Missile System (Tracked) Mk-II (NAMIS), Ground-Based Mobile ELINT System (GBMES), and High Mobility Vehicles (HMVs) equipped with Material Handling Cranes for the Indian Army.
Key Earnings to Watch Out For October 24, 2025 - Q2 FY26 Earnings
SBI Life Insurance Company, Dr Reddys Laboratories, SBI Cards & Payment Services, COFORGE, ITC Hotels, Aditya Birla Sun Life AMC, eClerx Services, Supreme Petrochem and Latent View Analytics will announce their Q2 earnings today.
Institutional Flows – FIIs and DIIs
On Thursday, October 23, Foreign Institutional Investors (FIIs) emerged as net sellers, buying equities worth ₹1,165.94 crore, snapping a 5-day buying streak.
Domestic Institutional Investors (DIIs) were buyers on Thursday. DIIs bought equities worth ₹3,893.73 crore, marking their 40th consecutive session of net buying.
Thursday’s Market Action
On Thursday, October 23, Indian equity benchmarks extended their winning streak for the sixth straight session, ending marginally higher. After a gap-up start, the Nifty 50 touched an intraday high of 26,100 before profit-booking trimmed gains, closing at 25,891.40, up 0.09%, while the Sensex rose 0.15% to 84,556.40. Both indices remain about 1.5% below their record highs, as India VIX climbed 3.5% during the session.
The rally was driven by IT stocks on hopes of a trade deal with the US and improving earnings. Eight of the eleven sectors closed in positive territory.
The Bank Nifty hit a new all-time high of 58,555.15 before closing slightly lower, while the Nifty IT index gained 2.2%, led by a 3.8% surge in Infosys. Shares of textile and shrimp exporters also advanced on expectations of lower US tariffs.
Meanwhile, the Nifty Midcap and Smallcap indices ended lower, underperforming the benchmarks.
Wall Street On Thursday
US markets closed on a positive note on Thursday, driven by gains in technology stocks, even as corporate earnings presented a mixed picture.
The Dow Jones Industrial Average rose 144.20 points (0.31%) to end at 46,734.61, while the S&P 500 advanced 39.03 points (0.58%) to 6,738.43. The Nasdaq Composite outperformed, climbing 201.40 points (0.89%) to close at 22,941.80.
Trump-Xi Meeting
The White House announced that US President Donald Trump is set to meet Chinese President Xi Jinping next week during his upcoming visit to Asia. The confirmation comes amid heightened trade tensions between Washington and Beijing.
Vladimir Putin on US Sanctions
Russian President Vladimir Putin stated that Russia would not yield to pressure from the United States or any other nation. He warned that any deep strikes into Russian territory would prompt a serious and powerful response. Calling US sanctions an “unfriendly” move, Putin added that while they might have some consequences, they would not significantly harm Russia’s economic stability.
US Jobless Claims
Jobless claims in the United States increased last week. Applications for state unemployment benefits rose to a seasonally adjusted 232,000 for the week ending October 18, up from 220,000 the previous week.
Japan Inflation and Manufacturing PMI
Japan’s core inflation rose 2.9% year-on-year in September, surpassing the Bank of Japan’s 2% target and aligning with market expectations. This marked an acceleration from the 2.7% recorded in August. Meanwhile, Japan’s manufacturing sector showed further weakness, with the S&P Global flash Manufacturing PMI declining to 48.3 in October from 48.5 in September — the lowest level since March 2024, signaling a sharper contraction in factory activity.
Gold Prices
Gold prices traded higher on Friday. Spot gold price was up 0.1% at $4,130.43 an ounce.
Crude Oil Prices
Crude oil prices fell, trimming part of the previous day’s surge but remained on track for a weekly gain. Brent crude futures fell 0.30% to $65.79, while US West Texas Intermediate crude futures declined 0.26% to $61.63.
