Sensex, Nifty today: Gift Nifty signals a positive opening amid weak global cues

The Indian stock market is likely to open higher on Friday despite negative global cues. Asian markets were trading lower with Japan's Nikkei crashing 1150 pts to 48,673 and Taiwan Weighted falling 773 pts to 26,653. Overnight, US market also ended in the red. 

Wall Street witnessed a steep reversal from its intraday highs, triggered by mixed signals from the US labour market. The better than expected US September jobs report dampened expectations of a potential rate cut by the Federal Reserve in December. 

The Dow Jones Industrial Average fell 386.51 points to 45,752.26, the S&P 500 lost 103.40 points to 6,538.76 and the Nasdaq Composite, dropped 486.18 points, or 2.15%, to 22,078.05.

Meanwhile, Nifty futures traded 164 points higher at 26,234, hinting at a positive start for the domestic market. 

Ponmudi R, CEO of Enrich Money, a SEBI registered online trading and wealth tech firm said, "The Nifty 50 continues to edge closer to its lifetime high, extending its steady upward trajectory. Key support levels are identified at 26,130 and 26,070, with a stronger demand cluster positioned between 26,000–25,900. A breakout above the long-awaited all-time high could set the stage for the next leg higher toward 26,350–26,500. The derivatives positioning reinforces this constructive setup."

On Thursday, Sensex and Nifty scaled fresh peaks as optimism around an imminent India–US trade deal and firm global cues fuelled strong buying across sectors. Sensex jumped 446.21 points or 0.52 per cent to end at 85,632.68, extending its two-session gains to 959 points. Nifty50 advanced 139.50 points or 0.54 per cent to close at 26,192.15. During the session, Sensex hit a 52-week high of 85,801.70, while the Nifty touched a fresh one-year peak of 26,246.65. During the session, Sensex hit a 52-week high of 85,801.70, while the Nifty touched a fresh one-year peak of 26,246.65.