GIFT Nifty is trading at 24,400 as of 8:00 AM IST, indicating a modest gap-up of around 50 points for the Nifty 50 at the 9:15 AM NSE opening. US markets closed mostly flat to slightly negative overnight, with the Nasdaq and S&P 500 edging lower while the Dow barely moved. However, Asian markets are showing strong positive momentum this morning — Nikkei, Hang Seng, Straits Times and KOSPI are all trading firmly in the green. The mixed global backdrop — weak US close but firm Asian session — is supporting a cautious but positive gap-up signal for Indian markets today.
Global Cues
US Markets
US markets closed mostly flat to marginally negative overnight. The Dow Jones was barely changed at -4.87 points, while the Nasdaq fell 0.26% and the S&P 500 slipped 0.24%. The weakness was driven by renewed concerns over interest rate trajectory and mixed corporate earnings. Despite the soft US close, the positive Asian session this morning is providing enough support for a modest gap-up opening in Indian markets.
Asian Markets
Asian markets are trading strongly in the green this morning, providing a positive lead for Indian equities. Japan's Nikkei 225 is up 784 points (+1.33%), South Korea's KOSPI is the top gainer at +2.12%, while Hong Kong's Hang Seng is up 0.47% and Singapore's Straits Times has gained 0.26%.
Crude Oil
Brent Crude is trading at $94.95, down 0.56%. Softer crude prices ease import cost pressures for India, providing mild support for the broader market and reducing inflation concerns.