Indian equity benchmark indices are poised for a strong start on Thursday as GIFT Nifty signals a gap-up opening, indicating that the Nifty 50 may open around 26,255, up 332 points or 1.28%.
The upbeat sentiment comes on the back of renewed optimism over India–U.S. trade relations. A recent phone conversation between Prime Minister Narendra Modi and U.S. President Donald Trump has reignited hopes of a landmark trade agreement. Reports suggest that the U.S. is set to cut tariffs on Indian imports to just 15%, a move widely seen as a game-changer for India’s export competitiveness and overall trade outlook.
Meanwhile, the majority of Asian markets were trading in the red this morning, while U.S. equities ended lower overnight.
On Friday, October 21, Foreign Institutional Investors (FIIs) remained net buyers for the fifth consecutive session, purchasing equities worth ₹96.72 crore, signaling continued confidence in Indian markets. Conversely, Domestic Institutional Investors (DIIs) turned net sellers during the Muhurat trading session, offloading stocks worth ₹607.1 crore, likely booking profits after recent gains.
The Indian equity markets entered Samvat 2082 on an optimistic note. Both the Sensex and Nifty extended their winning streak to five sessions during the special Muhurat trading session, underscoring the positive undertone among investors at the start of the new trading year.
U.S. markets closed lower on Wednesday, paring losses from early declines but still finishing in the red. The Nasdaq fell 213.67 points (0.9%) to 22,740.40, the Dow Jones Industrial Average dropped 334.33 points (0.7%) to 46,590.41, and the S&P 500 slipped 35.95 points (0.5%) to 6,699.40.
The tech-heavy Nasdaq’s decline was primarily led by Netflix (NFLX), which plunged 10.1 per cent to a five-month low after the streaming giant posted weaker-than-expected Q3 earnings, citing a tax dispute with Brazilian authorities.
Adding to the cautious tone were renewed uncertainties over U.S.–China trade relations. President Trump, during a luncheon with Republican lawmakers at the White House Rose Garden, expressed optimism about achieving a “good deal” with Chinese President Xi Jinping, but hinted that a meeting between the two leaders might not occur soon, keeping investors on edge.
Meanwhile, gold prices slipped below the $4,100 mark, declining by nearly 0.5%, as investors favored riskier assets.
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