GIFT Nifty Today: Sensex, Nifty Likely To Open Higher As Nifty Futures Gain Nearly 100 Points

GIFT Nifty Today: Indian equity benchmarks Sensex and Nifty are likely to open higher on Friday, October 16, tracking positive global cues after a strong rally in the previous session. GIFT Nifty was trading at 23,085.5, up 97.5 points, or 0.42%, at around 7:40 am, signalling a firm start for domestic markets.

Market sentiment is being supported by a rebound on Wall Street, strength across Asian markets and a pullback in US Treasury yields. Japan’s Nikkei 225 and South Korea’s Kospi were trading more than 1% higher in early deals, providing further support to investor sentiment.

Ponmudi R, CEO of Enrich Money, said, “Indian equity markets are likely to open on a steady footing, drawing support from a Wall Street rebound and a firmer tone across

Asian markets.”

The positive opening follows a strong rally on Dalal Street on Thursday, when benchmark indices surged to their highest levels in three weeks, led by heavy buying in banking, IT and Reliance Industries shares amid easing crude oil prices.

In the previous session on Thursday, the BSE Sensex jumped 1,533.72 points, or 2.11%, to settle at 74,315.61, near the day’s high. The index had risen as much as 1,548.4 points during the session. The NSE Nifty gained 374.65 points, or 1.66%, to close at 22,997.35, its highest level since September 25.

What Could Drive Markets Today?

Ponmudi said domestic markets are likely to begin the session on a steady footing, supported by the recovery on Wall Street and a firmer tone across Asian equities.

However, the sustainability of the rebound will depend on several domestic and global factors. Crude oil prices remain a key variable for India, with WTI trading around $94–95 per barrel. Elevated oil prices could revive concerns over import costs, inflation and corporate margins, potentially limiting further gains.

Geopolitical developments in West Asia and the broader Middle East are also likely to remain on investors’ radar. The Houthis’ claim of a deadly attack near a government palace in Aden, Yemen, has highlighted the fragile regional security situation and the risk of renewed volatility in energy markets.

Investors will also track foreign institutional investor (FII) flows for signs of a sustained improvement in risk appetite, alongside movements in global bond yields and developments in semiconductor stocks.