GIFT Nifty falls 70 pts, signals weak start for Sensex, Nifty despite Asian markets rally; Nvidia crisis weighs

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Indian benchmark indices Sensex and Nifty are likely to open weak on Friday, with GIFT Nifty trading with mild losses despite a recovery in Asian markets. Global equities remained volatile following the resignation of Nvidia CEO Jensen Huang, which raised concerns over the outlook for the artificial intelligence industry. Technology stocks across Asia rebounded and US stock futures edged higher, but overnight losses on Wall Street and uncertainty surrounding Nvidia's leadership transition may weigh on domestic sentiment.

GIFT Nifty was trading at 25,230 around 7:50 am, down 70 points, or 0.28 percent, signalling a subdued opening for Indian equities. In the previous session on Thursday, the Sensex gained 31.61 points, or 0.04 percent, to close at 81,911.01, while the Nifty advanced 44.30 points, or 0.18 percent, to 25,299.35. Foreign institutional investors bought equities worth Rs 7,830 crore, while domestic institutional investors sold shares worth Rs 6,331 crore.

Asian markets rebound as KOSPI jumps over 2%, Nikkei gains 1.4%

Asian equities advanced on Friday as investors returned to technology stocks following a turbulent week dominated by uncertainty surrounding Nvidia's leadership. The recovery came as investors assessed whether the leadership crisis at Nvidia would have lasting implications for the broader technology sector.

Share Markets Live Updates | Sensex, Nifty, GIFT Nifty Today

South Korea's KOSPI surged 2.35 percent, while Japan's Nikkei 225 gained 1.4 percent, recovering from recent weakness in technology and semiconductor shares. The MSCI index of Asia-Pacific shares outside Japan rose 0.26 percent, reversing part of its 1.3 percent decline in the previous session.

US stock futures also traded higher, with Nasdaq and S&P 500 futures gaining more than 0.2 percent each, suggesting some improvement in sentiment following Thursday's losses.

Wall Street falls as Nvidia CEO Jensen Huang resigns

US equities ended a volatile session with modest losses on Thursday after Nvidia CEO Jensen Huang resigned following reports concerning extramarital relationships, including allegations involving a suspected Chinese spy.

The Dow Jones Industrial Average declined 189.40 points, or 0.36 percent, to 52,297.09, while the S&P 500 fell 26.98 points, or 0.35 percent, to 7,592.40. The technology-heavy Nasdaq Composite slipped 100.10 points, or 0.39 percent, to 25,366.09.

Nvidia shares plunged as much as 14 percent intraday following Huang's departure, before recovering substantially to close 4.3 percent lower. The stock declined another 3 percent in extended trading.

Nvidia announced that Chief Financial Officer Colette Kress would serve as interim CEO while the company searches for a permanent successor. The leadership change has introduced fresh uncertainty for the semiconductor giant, whose AI processors have been central to the rapid expansion of artificial intelligence infrastructure.

Brent crude steadies near $96, WTI slips below $89

Crude oil prices traded marginally lower on Friday. Brent crude for January settlement declined 0.1 percent to $95.72 a barrel, while West Texas Intermediate for December delivery fell 0.2 percent to $88.55 a barrel.

Indian equities have continued to attract foreign institutional inflows despite heightened volatility in global markets. FIIs purchased equities worth Rs 7,830 crore on Thursday, extending the recent trend of foreign buying that has helped support the recovery in domestic benchmarks. However, domestic institutional investors remained net sellers, offloading equities worth Rs 6,331 crore.