Indian stock market: The equity market benchmark indices, Sensex and Nifty 50, are expected to open higher on Monday, despite mixed global market cues.

Asian markets traded mixed, while the US stock market ended higher last week, after inflation data.

This week, investors will focus on key stock market triggers, including the RBI monetary policy, India-US trade deal, developments over US tariffs, domestic and global macroeconomic data, flow of foreign funds, trends in gold prices, and other key geopolitical developments.

On Friday, the Indian stock market sharply ended lower, extending its losing streak for the sixth straight session, as fresh Trump tariffs on pharmaceuticals and persistent foreign fund outflow weighed on market sentiment.

The Sensex declined 733.22 points, or 0.90%, to close at 80,426.46, while the Nifty 50 settled 236.15 points, or 0.95%, lower at 24,654.70.

“We expect markets to remain under pressure in the near term, tracking global headwinds, key macroeconomic data, and potential development around the India–US trade talks,” said Siddhartha Khemka – Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.

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Here are key global market cues for Sensex today:

Asian Markets

Asia markets traded mixed on Monday as investors braced for a possible shutdown of the US government. Japan’s Nikkei 225 fell 0.68%, and the Topix declined 1.27%. South Korea’s Kospi gained 1.05% and the Kosdaq rose 0.82%. Hong Kong’s Hang Seng index futures indicated a higher opening.

Gift Nifty Today

Gift Nifty was trading around 24,810 level, a premium of nearly 120 points from the Nifty futures’ previous close, indicating a gap-up start for the Indian stock market indices.

Wall Street

US stock market ended higher on Friday after mostly in-line US inflation data, but the three major indexes posted losses for the week, with the S&P 500 and Nasdaq snapping three-week streaks of weekly gains.

The Dow Jones Industrial Average gained 299.97 points, or 0.65%, to 46,247.29, while the S&P 500 rallied 38.98 points, or 0.59%, to 6,643.70. The Nasdaq Composite closed 99.37 points, or 0.44%, higher at 22,484.07. For the week, the Dow Jones fell 0.2%, the S&P 500 declined 0.3% and the Nasdaq dropped 0.7%.

Nvidia share price gained 0.28, Apple shares fell 0.55%, Tesla stock price rallied 4.02%, while Eli Lilly rose 1.4%. Costco Wholesale shares fell 2.9% and Electronic Arts shares jumped 14.9%.

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Russia launched hundreds of drones and missiles at Kyiv and other parts of Ukraine early on Sunday, killing at least four people and injuring dozens, in one of the most sustained attacks on the capital since the full-scale war began. Russia’s defence ministry said it had carried out a ‘massive’ attack on Ukraine using long-range air- and sea-based weapons and drones to target military infrastructure, including airfields.

US Inflation

The US Federal Reserve’s preferred inflation measure edged up in August. The Personal Consumption Expenditures (PCE) Price Index increased 0.3% in August after gaining 0.2% in July. In the 12 months through August, the PCE Price Index advanced 2.7%. That was the biggest year-on-year increase since February and followed a 2.6% rise in July.

US Consumer Spending

US consumer spending increased slightly more than expected in August. Consumer spending, which accounts for more than two-thirds of economic activity, rose 0.6% last month after an unrevised 0.5% advance in July. Economists polled by Reuters had forecast consumer spending increasing 0.5%.

US Government Shutdown

US government shutdown date is approaching fast. President Donald Trump will meet with the top Democratic and Republican leaders in Congress to discuss extending government funding. The last date for the government funding is September 30. Without a deal a shutdown would begin from October 1, which is also when new US tariffs on heavy trucks, pharmaceuticals and other items go into effect.

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The US dollar was on the defensive ahead of a slew of economic data releases. The US dollar index was steady at 98.134. Against the yen, the dollar was down 0.2% to 149.24, after having risen over 1% against the Japanese currency last week, Reuters reported. The euro rose 0.15% to $1.1717, while sterling edged 0.11% higher to $1.3418.

Gold Prices

Gold prices traded higher after notching a sixth weekly gain as traders weighed a potential US government shutdown. Gold price traded near $3,773 an ounce after gaining 2% last week.

Crude Oil Prices

Crude oil prices fell nearly 1% after Iraq’s Kurdistan region resumed crude oil exports via Turkey over the weekend and as OPEC plans another oil output hike in November. Brent crude futures fell 0.99% to $69.46 a barrel, while US West Texas Intermediate crude declined 1% to $65.06 a barrel.

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