Gift Nifty is jumping out of the gate, perfectly in sync with our “Call of the Day” — which suggests Nifty bulls aim to take over the positive baton from a strong finish from Wall Street in overnight trade.
The morning optimism is actually also on the backdrop of Nvidia delivering a blockbuster earnings beat, reigniting optimism in the AI-led market rally.
“AI is going everywhere, doing everything,” declared CEO Jensen Huang — a statement that is further fueling risk-on sentiment across global markets.
Long Story Short: Bulls are likely to be everywhere at Dalal Street. The benchmark should hit and surpass its all-time high levels sooner rather than later.
Bottom-line: Buy something.
7:00 AM GLOBAL UPDATE:
GIFT Nifty 🇮🇳: (+95, 26148)
Dow Futures: (+261, 46400)
Nasdaq 100 Futures (+427, 25069)
Nikkei (+1717, 50277)
Hang Seng (+169, 26000)
Dow Jones (+47, 46139)
Nasdaq Composite (+131, 22564)
Bovespa (-1141, 155381).
WHAT HAPPENED AT WALL STREET IN OVERNIGHT TRADE:
In Wednesday’s trade, the Dow Jones Industrial Average closed higher for the first time in five days, while the Nasdaq Composite notched a win too.
FOMC October Minutes Update: Many Fed Officials Resisted November Cut.
According to minutes from the Oct. 28–29 FOMC meeting, Federal Reserve officials indicated it will likely be appropriate to hold interest rates steady for the rest of 2025.
Gold prices ($4097 per ounce) halted their decent decline as traders are wary that incoming prints could constrain the Federal Reserve’s room to ease policy. Meanwhile, the Fed’s October minutes revealed a clear split among officials with most seeing further cuts as likely at some point but many signalling that a December move is not a foregone conclusion.
WTI crude oil futures ($59.40) are trading with negative bias, after reports indicated the US is pushing to end the Russia-Ukraine war. Also, sentiments are OPEC revising its outlook to show a supply surplus in the third quarter. The group now estimates global supply exceeded demand by about 500,000 barrels per day, reversing its prior deficit forecast.
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