The Indian stock market is likely to open sharply higher on Thursday, November 5, following a strong rally in global markets. GIFT Nifty was trading around 24,306, up nearly 356 points. This positive trend follows a session where the Sensex rose 383.55 points and the Nifty 50 gained 149.75 points.
The Indian stock market is likely to open sharply higher on Thursday, November 5, following a strong rally in global markets.
GIFT Nifty
GIFT Nifty was trading around 24,306, up nearly 356 points, or 1.50 per cent, from the previous close of Nifty futures. This signals a strong start for the benchmark indices, Sensex and Nifty 50.
Previous session recap
The domestic market ended higher in the previous session, extending its gains.
The 30-share BSE Sensex rose 383.55 points, or 0.50 per cent, to settle at 77,301.40. The NSE Nifty 50 gained 149.75 points, or 0.63 per cent, to close at 23,960.60.
Global markets today
Global markets rallied sharply overnight, with US stocks posting strong gains.
The Dow Jones Industrial Average surged 1,569.40 points, or 3.03 per cent, to close at 53,356.10. The S&P 500 gained 1.58 per cent to 7,688.62, while the Nasdaq Composite advanced 1.44 per cent to 25,736.50.
European markets also ended higher. The FTSE 100 rose 1.79 per cent to 10,829.20, while Germany's DAX climbed 2.22 per cent to 26,437.70.
Asian markets presented a mixed picture on Thursday. Japan's Nikkei 225 fell 0.34 per cent to 61,977.40, while Shanghai Composite slipped 0.14 per cent to 3,680.86.
South Korea's KOSPI was down 3.83 per cent at 5,466.10.
US stock futures
US stock futures were mixed in early trade.
Dow Jones futures gained 126 points, or 0.24 per cent, to 53,629. S&P 500 futures fell 0.14 per cent to 7,709.75, while Nasdaq 100 futures declined 0.70 per cent to 28,367.20.
The CBOE Volatility Index (VIX) fell 20.26 per cent to 16.61, indicating a sharp easing in market volatility.
The US dollar index was down 0.26 per cent at 101.30.