What Changed For Indian Stock Market Overnight? Wall Street Rally To Crude Oil Prices

The benchmark Indian stock market bourses - BSE Sensex and Nifty50 are expected to open in green on Friday, October 24, fueled by positive global indicators and renewed expectations on India-US bilateral trade pact.

In Thursday's trading session, the Indian stock market indices ended higher, extending the bull run to the sixth day in a row. The Sensex had rallied 0.15% to close at 84,556.40, while the Nifty 50 rose 0.09% to end at 25,891.40.

Asian Markets

The Asian markets ended higher in trade on Friday, continuing the recovery seen in Wall Street after the highly anticipated meet between Trump and Xi as confirmed by the White House for October 30.

Japan’s Nikkei 225 index rose 1.18%, Topix rallied 0.39%. South Korea’s Kospi increased 1.58% and the Kosdaq surged 0.92%. Hong Kong’s Hang Seng Index futures indicated a stronger opening.

Gift Nifty

Indicating a green start for Indian stock market benchmark indices Gift Nifty was trading around 26,033 level, a premium of nearly 56 points from the Nifty futures’ last close.

Also Read: Ahead of Trump-Xi Meet, Nasdaq, S&P 500 Lead Wall Street Rebound

Wall Street

Led by a rally in tech stocks, the US stock market closed in green on Thursday. The Dow Jones Industrial Average gained 0.31%, to 46,734.61, the S&P 500 rose 0.58%, to 6,738.43. The Nasdaq Composite closed 0.89%, higher at 22,941.80.

Tesla stock recovered and rallied 2.28%, Nvidia share price surged 1.04%, Advanced Micro Devices shares rose 2.07%, while IBM shares dropped 0.9%. Aerospace firm Honeywell shares jumped 6.8%, American Airlines shares advanced 5.6%, while Southwest Airlines share price slipped 6.3%.

Trump-Xi Meet

US President Donald Trump will meet Chinese President Xi Jinping next week as part of a trip to Asia, the White House confirmed the meeting after an escalation in tariff-induced trade tensions between the two major economies.

Crude Oil Prices

Crude oil prices fell, trimming part of the previous day’s surge but remained on track for a weekly gain. Brent crude futures fell 0.30% to $65.79, while US West Texas Intermediate crude futures declined 0.26% to $61.63.