Gift Nifty pointed to a positive start for Indian equities on Friday, with the derivatives index trading at a healthy premium over the previous Nifty futures close. Investors will also monitor overnight developments, including U.S. economic data, global market performance, gold price movements and crude oil price trends that could influence trading sentiment during the session.

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Gift Nifty Indicates Firm Opening

Gift Nifty was trading near the 24,447 mark, around 182 points above the previous close of Nifty futures. The premium suggests that benchmark indices could begin the day on a stronger note after Thursday’s gains in domestic equities.

Market participants are expected to closely track Gift Nifty throughout the session as it continues to provide early signals for the direction of the Indian market.

Domestic Market Ends Higher

Indian benchmark indices ended Thursday’s session with broad-based gains. The Sensex climbed 579.48 points, or 0.75%, to close at 77,502.12, while the Nifty 50 advanced 169.85 points, or 0.71%, to settle at 24,175.70.

The positive close provides supportive momentum for Friday with Gift Nifty suggesting buying interest could continue at the opening bell.

Global Markets Offer Mixed Signals

Asian markets traded lower on Friday despite the positive indication from Gift Nifty. Japan’s Nikkei 225 and Topix declined, while South Korea’s Kospi and Kosdaq also traded in negative territory. Hong Kong futures indicated a largely flat opening.

On Wall Street, trading ended mixed overnight. The Dow Jones Industrial Average rose 1.14% to a record closing high, while the S&P 500 was little changed. The Nasdaq Composite fell 0.80% as technology stocks came under pressure.

U.S. Payroll Data In Focus

Fresh labour market data from the U.S. showed that nonfarm payrolls increased by 57,000 jobs in June after May’s figure was revised lower to 129,000. Reuters reported that economists had expected payroll additions of 110,000.

The data will remain an important global cue as investors assess the outlook for U.S. monetary policy.

Gold Price And Crude Oil Price

The gold price moved higher, with spot gold rising 0.5% to $4,144.83 per ounce. U.S. gold futures for August delivery gained 0.8% to $4,157.50, putting bullion on course for its first weekly gain in five weeks. Spot silver price also advanced 0.5%.

Meanwhile, the crude oil price extended its decline as tanker movements through the Strait of Hormuz improved. Brent crude oil price slipped 0.31% to $71.58 per barrel, while U.S. West Texas Intermediate crude eased 0.35% to $68.45 per barrel.

Other Global Developments

Investors also tracked geopolitical developments, including ongoing tensions involving Iran, Russia and Ukraine. In addition, Japan’s final Services Purchasing Managers’ Index (PMI) rose to 52.2 in June from 50.0 in May, signalling renewed expansion in business activity.

With Gift Nifty pointing to a stronger opening and global cues remaining mixed, investors are likely to monitor overseas developments alongside domestic market trends through the trading session.