What Changed For D-Street Overnight? India-US Trade Talks To Trump's Oil Sanctions On Kremlin

The Indian stock market benchmark indices BSE Sensex and Nifty 50 are expected to ring Thursday, October 23, trading session in green as a result of renewed expectations of a mutually-beneficial India-US trade pact.

On Tuesday, October 21, Dalal street closed with marginal gains in the Diwali Muhurat trading session, marking the beginning of Samvat 2082.

The Sensex rallied 0.07% to close at 84,426.34, while the Nifty 50 rose 0.10% to 25,868.60 level.  The stock market was closed on Wednesday, October 22, on account of Diwali Balipratipada.

Asian Markets

Continuing the Wall-street losses recorded in Thursday's trading session, Asian stocks were in red amid severe US-China trade ties. Nikkei 22 Index of Japan fell 1.28%, Topix closed 0.71%, Kospi index declined 0.54%, and Kosdaq dipped 1%. Hong Kong’s Hang Seng Index futures signaled a lower beginning.

Gift Nifty

Signaling a uptick start for Indian benchmark indices, Gift Nifty was hovering around 26,281 levels, 374 points higher from the Nifty futures’ previous closing level.

Also Read: Oil Prices Extend Gains As US Sanctions Russia's Rosneft, Lukoil

Wall Street

The US Stock market indices ended in red after after mixed earnings impacted further by a higher risk possibility.

The Dow Jones Industrial Average fell 0.71% to 46,590.41, the S&P 500 dipped 0.53% to 6,699.40, and the Nasdaq Composite was trading 0.93% lower, closing at 22,740.40.

India-US Trade Pact

There's is renewed buzz about India-US closing in on inking a trade pact, which would reduce current tariffs for Indian exports to in the 15% - 16% range from the currently imposed 50% tariffs, as per media reports.

With energy and agriculture emerging as key cards at the negotiating table, India may agree to gradually reduce its imports of Russian oil.

US Sanctions On Russian Oil Giants

The United States has imposed sanctions on two major Russian oil companies Lukoil and Rosneft, citing their “lack of serious commitment to peace in Ukraine,” as President Donald Trump noted that conversations with Russian President Vladimir Putin were “good” but did “not go anywhere.”