Nifty Futures Set to Open Above 24,500: All Eyes on Tech Mahindra & Axis Bank!
Pre-Market Update: After ending a seven-day winning streak on Thursday, Indian markets are likely to open higher on Friday, taking cues from strong gains in global markets.
At 7:30 am, Gift Nifty was trading above the 24,500 mark, up 137 points from its previous close. This indicates that Indian stock market indices may open with a gap-up. Adding to the optimism are positive cues such as continued FII buying and strong corporate earnings from Axis Bank and Tech Mahindra.
As the Q4 results season of Indian Inc is going on, earnings are in focus. A total of 39 listed companies are set to announce their Q4FY25 results today. Among these, investors will be closely watching earnings of key stocks such as Reliance Industries, Maruti Suzuki India, Hindustan Zinc, Shriram Finance and Cholamandalam Investment and Finance Company.
In the trade war developments, the first benefit comes to India as Air India in talks with Boeing to acquire 10 planes rejected by Chinese buyers amid the trade war.
Foreign Institutional Investors (FIIs) were net buyers, purchasing Rs 8,250.53 crore worth of shares on April 24, 2025. This marks a consistent buying trend over the last seven sessions. In contrast, Domestic Institutional Investors (DIIs) sold Rs 534.54 crore during the same period.
Asian markets saw gains on Friday, taking cues from a strong overnight performance on Wall Street, particularly driven by a rally in technology shares.
Japan’s Nikkei 225 climbed 1.4%, with the Topix index also rising by 1.11%. South Korea’s Kospi advanced 0.59%, while the Kosdaq added 0.5%. Hong Kong’s Hang Seng advanced by 0.56% on Friday.
U.S. markets closed higher on Thursday, marking their third consecutive day of gains. The rally was driven by strong performance in technology stocks and optimism surrounding easing tensions in the U.S.-China tariff discussions.
The Dow Jones Industrial Average advanced 486.83 points (1.23%) to settle at 40,093.40. Meanwhile, the S&P 500 climbed 108.91 points (2.03%) to reach 5,484.77, and the Nasdaq Composite surged 457.99 points (2.74%) to end at 17,166.04.
New data shows that applications for unemployment benefits in the U.S. rose slightly last week. Initial jobless claims increased by 6,000, reaching a seasonally adjusted total of 2,22,000 for the week ending April 19.
Gold prices extended their upward trend, marking a potential third straight week of gains. Spot gold inched up by 0.2% to reach $3,354.29 per ounce, after hitting an all-time high of $3,500.05 on Tuesday. Meanwhile, US gold futures climbed 0.5%, trading at $3,365.90.
In contrast, crude oil prices edged higher on Friday but remained poised for a weekly decline. Brent crude rose 0.32% to $66.76 a barrel, yet was likely to close the week with a 2% loss. Similarly, WTI crude increased 0.30% to $62.98 a barrel, still heading for a 2.9% drop over the week.
Disclaimer: The article is for informational purposes only and not investment advice.
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