GIFT Nifty Hints at Positive Start; Markets Eye Global Cues and Rate-Cut Hopes

Mumbai, October 16: The Indian stock market and all the included indices are expected to open on a steady and positive note. The positive momentum is indicated by Gift Nifty, which is up by 0.13%, or 32.50 points, and is trading at 25,470, as of 8:30 AM. Until now, the index has traded between a range of 25,471.50 and 25,441.50.

Sensex and Nifty Closed Higher

Today’s positive start is also indicated by the strong close witnessed by Sensex and Nifty yesterday. Sensex advanced 575.45 points to 82,605.43, reaching its one-month high, while Nifty 50 jumped 178.05 points to close at 25,323.55. The rally in the stock market yesterday was fueled by positive sentiment of investors who are hopeful for a US Federal Reserve rate cut later this month.

FIIs Net Buyers While DIIs Extend Their Buying Streak

Yesterday, on October 15, Foreign portfolio investors (FPIs) turned mild net buyers, buying Indian equities worth ₹14,013.54 crore and selling ₹13,944.90 crore, resulting in a net inflow of ₹68.64 crore. On the other hand, DIIs provided support to the buying, and bought net Indian equities worth ₹4,650.08 crore on the same day.

US Indices Higher While Asian Market Firm

Overnight, US indices closed higher as they were led by gains in Morgan Stanley and Bank of America. On the other hand, Asian markets opened on a strong note this morning. Japan’s Topix rose 0.8%, Australia’s S&P/ASX 200 gained 0.4%, and Euro Stoxx 50 futures climbed 1.2%, signaling positive momentum in the Asian markets.

Crude Oil Higher While Gold Hits A Record High

Crude oil price increased by nearly 1%, while gold prices hit a record high. These prices are driven by increasing geopolitical tensions and the ongoing tariff wars.

Optimistic Tone For Today

As indicated by Gift Nifty, and fueled by positive institutional buying, the Indian stock market is expected to open in the green. It may hold the momentum throughout the day, given that the intraday factors are supportive. Investors and traders will be closely watching global rate cuts, and any further development in the US-China trade situation.

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