The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open higher on Thursday, following upbeat global market cues.<\/p>\n
Asian markets traded higher, while the US stock market indices ended mostly in the green after strong earnings from major banks.<\/p>\n
On Wednesday, the Indian stock market ended with strong gains, with the benchmark indices rallying over half a percent each.<\/p>\n
The Sensex<\/a> jumped 575.45 points, or 0.70%, to close at 82,605.43, while the Nifty 50 settled 178.05 points, or 0.71%, higher at 25,323.55.<\/p>\n \u201cWe maintain a bullish bias and continue to advocate a \u201cbuy on dips\u201d approach as long as the index holds above the 25,000 support zone. Sector rotation currently favors banking, metals, and auto, while defensives like FMCG and pharma may continue to underperform in the near term so participants should align their positions accordingly,\u201d said Ajit Mishra \u2013 SVP, Research, Religare Broking Ltd.<\/p>\n Also Read | Stock market today: Eight stocks to buy or sell on Thursday<\/a><\/p>\n Here are key global market cues for Sensex today:<\/p>\n Asian Markets<\/p>\n Asian markets traded higher on Thursday, tracking overnight gains on Wall Street. Japan\u2019s Nikkei 225 index jumped 0.95%, while the Topix index gained 0.8%. South Korea\u2019s Kospi index rallied 1.09%, while the Kosdaq rose 0.2%. Hong Kong\u2019s Hang Seng Index futures indicated a lower opening.<\/p>\n Gift Nifty Today<\/p>\n Gift Nifty was trading around 25,451 level, a premium of nearly 26 points from the Nifty futures\u2019 previous close, indicating a positive start for the Indian stock market indices.<\/p>\n Wall Street<\/p>\n US stock market ended mostly higher on Wednesday as investors remained focused on the recent increase in US-China trade tensions.<\/p>\n The Dow Jones Industrial Average fell 0.04% to 46,253.31, while S&P 500 gained 0.40% to end the session at 6,671.06. The Nasdaq closed 0.66% higher at 22,670.08.<\/p>\n Morgan Stanley share price jumped 4.7% to a record high, while Bank of America stock price rallied 4.4%. Advanced Micro Devices shares surged 9.40%, Intel stock price gained 4.27%, while Tesla stock price rose 1.38%. Abbott shares declined 2.4% and Progressive Corp shares fell 5.8%.<\/p>\n Also Read | Breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy<\/a>RBI Minutes<\/p>\n Reserve Bank of India Governor Sanjay Malhotra and other members of the monetary policy committee (MPC) saw room for an interest rate cut earlier this month, but left the decision for an opportune time, the MPC meeting minutes<\/a> showed. During the meeting, Malhotra said the benign outlook for headline and core inflation as a result of the downward revision of projections opens up policy space to further support growth.<\/p>\n India-US Trade Talks<\/p>\n In a major update related to the India-US trade talks<\/a>, sources in the government said on Wednesday (October 15) that a negotiating team is currently in the US, trying to find a \u201cwin-win solution\u201d for both sides. Sources told news agency ANI, \u201cEngagement between the two sides is going on.\u201d<\/p>\n India\u2019s Russian Oil Purchases<\/p>\n US President Donald Trump said Indian Prime Minister Narendra Modi vowed to halt purchases of Russian oil. \u201cI was not happy that India was buying oil, and he assured me today that they will not be buying oil from Russia,\u201d Trump told reporters, referring to Modi. \u201cThat\u2019s a big step. Now I\u2019ve got to get China do the same thing.\u201d<\/p>\n India Unemployment Rate<\/p>\n India\u2019s unemployment rate increased marginally to 5.2% in September from 5.1% in August owing to a rise in joblessness in both rural and urban areas. Unemployment<\/a> in rural areas rose to 4.6% in September from 4.3% in August, while urban unemployment inched up to 6.8% from 6.7% over the same period.<\/p>\n