The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open higher on Monday, as sentiment improved after the BJP-led NDA won a resounding victory in the Bihar elections, which is likely to add stability to the coalition government at the Centre.
Asian markets traded mixed, while the US stock market also ended mixed last week, with the Nasdaq closing higher led by gains in tech stocks.
This week, market participants will watch out for key stock market triggers, including the FOMC meeting minutes, the developments in the India-US trade deal, flow of foreign funds, trends in gold prices, and other key global and domestic macroeconomic data.
On Friday, the Indian stock market ended higher, rebounding from the day’s low.
The Sensex gained 84.11 points, or 0.10%, to close at 84,562.78, while the Nifty 50 settled 30.90 points, or 0.12%, higher at 25,910.05.
“With the retail inflation easing and the corporate earnings season concluding on a positive note, the backdrop remains supportive for Indian equities. We expect markets to stay firm, with a potential India-US trade deal announcement offering scope for a sharper up-move,” said Siddhartha Khemka – Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.
Here are key global market cues for Sensex today:
Asian Markets
Asian markets traded mixed on Monday amid the release of a slate of economic data in the region. Japan’s Nikkei fell 0.39% and Topix declined 0.44%. South Korea’s Kospi rallied 1.43% while the Kosdaq gained 0.68%. Hong Kong’s Hang Seng index futures indicated a slightly lower opening.
Gift Nifty Today
Gift Nifty was trading around 26,017 level, a premium of nearly 66 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.
Wall Street
US stock market ended mixed on amid worries that the Federal Reserve may hold off on cutting interest rates in December.
The Dow Jones Industrial Average declined 0.65% to 47,147.48, while the S&P 500 eased 0.05% to end at 6,734.11. The Nasdaq closed 0.13% higher at 22,900.59. For the week, the Dow Jones gained 0.3%, the S&P 500 rose 0.1% and the Nasdaq fell 0.5%.
Nvidia stock price rose 1.77%, Palantir shares rose 1.09%, and Microsoft share price gained 1.37%. UnitedHealth Group shares declined 3.2%, Visa stock price lost 1.8%, and Amazon shares fell 1.22%. Cidara Therapeutics shares jumped 105.41%.
Trump Tariffs
US President Donald Trump issued an executive order to roll back tariffs on dozens of imported agricultural goods that aren’t made in large-enough quantities in the US. That includes beef, coffee, avocados, and coconuts.
US-China Trade Deal
A rare earths deal between the US and China will “hopefully” be done by Thanksgiving, Treasury Secretary Scott Bessent said. Bessent’s comments follow a framework agreement announced last month in which Washington agreed not to impose 100% tariffs on Chinese imports and China would hold off on an export licensing regime for crucial rare earths minerals and magnets, Reuters reported.
Russia Sanctions
President Donald Trump said that Republicans are working on legislation that will impose sanctions on any country doing business with Russia, and he said Iran may get added to that list. Trump said proposed Senate legislation would be “okay with me”.
Bihar Election Results
The BJP-led NDA registered a historic landslide victory in the Bihar Elections 2025, winning 202 of the 243 seats in the state; meanwhile, the Mahagathbandhan could only secure 35 seats.
Japan GDP
Japan’s economy contracted an annualised 1.8% in the July-September quarter, the first fall in six quarters. The decrease in gross domestic product was narrower than a median market estimate of a 2.5% fall in a Reuters poll. It followed revised growth of 2.3% in the previous quarter.
Bitcoin Prices
Bitcoin prices erased the more than 30% gain registered since the start of the year. The largest cryptocurrency’s prices fell below $93,714 on Sunday, pushing the price beneath the closing level reached at the end of last year. Bitcoin soared to a record $126,251 on October 6. The token pared losses to trade around $95,000.
Gold Prices
Gold prices traded higher, halting two days of losses. Gold rates rose 0.3% to $4,097.22 an ounce.