The Indian stock market is poised for a positive start on Friday, buoyed by a surge in global stock indices. Following a robust performance in Asian markets and a noteworthy rally on Wall Street, particularly in technology stocks, optimism is high. On the previous day, however, Indian benchmarks, Sensex and Nifty 50, faced a slight dip as investors engaged in profit-taking after a remarkable seven-day winning streak.

Market Overview: Sensex and Nifty Performance

On Thursday, the Sensex dropped by 315.06 points, closing at 79,801.43, marking a 0.39% decline. Similarly, the Nifty 50 fell by 82.25 points, or 0.34%, ending at 24,246.70. According to Ajit Mishra, Senior Vice President of Research at Religare Broking Ltd, this period of consolidation aligns with market expectations. He suggests that investors should focus on selecting quality stocks and consider dips as buying opportunities. He also noted that banking and financial stocks might experience some consolidation after their recent gains.

Global Market Trends Influencing Indian Stocks

Asian Markets on the Rise
Asian stock markets showed a positive trend on Friday, reflecting the upward momentum from Wall Street. Key indices include:

• Nikkei 225 in Japan surged by 0.91%
• Topix increased by 0.88%
• South Korea’s Kospi rose by 1.03%
• Hong Kong’s Hang Seng also indicated a higher opening for the day.

Gift Nifty Signals a Positive Start
The Gift Nifty was noted trading around 24,527, reflecting a premium of approximately 154 points from the previous close of Nifty futures, suggesting a gap-up start for Indian equity indices.

Wall Street’s Influence on Global Markets
On Thursday, the U.S. stock market experienced significant gains for the third consecutive session, driven by advancements in technology sectors and easing tensions in U.S.-China trade relations. Key highlights include:

• Dow Jones climbed 486.83 points, up 1.23%, closing at 40,093.40
• S&P 500 gained 108.91 points, up 2.03%, to finish at 5,484.77
• Nasdaq Composite saw an increase of 457.99 points, or 2.74%, reaching 17,166.04

Prominent tech stocks such as Alphabet, Microsoft, and Nvidia all reported substantial gains, showcasing the sector’s resilience and potential.

Economic Indicators and Commodity Prices

U.S. Jobless Claims
Recent figures from the U.S. indicated a slight increase in jobless claims, with initial applications for unemployment benefits rising by 6,000 to 222,000 for the week ending April 19, aligning with economists’ expectations.

Gold and Crude Oil Prices
In commodities, gold prices have increased, aiming for a third consecutive week of gains, with spot gold prices rising by 0.2% to $3,354.29 per ounce. In contrast, crude oil prices saw minor gains, with Brent crude rising 0.32% to $66.76 a barrel, but still on track for a weekly decline.

As the Indian stock market gears up for the day, investors are advised to stay alert to global trends and strategic stock selections that could enhance their portfolios.