Domestic markets are expected to open on a strong note on Thursday, the first full day of trading in Samvat 2082. Gift Nifty signals a gap-up opening of about 100 points amid expectations of a US-India deal soon, following US President Donald Trump and Prime Minister Narendra Modi’s telephonic talks.
Trump told reporters at the White House Diwali celebrations on Tuesday that his call with Modi focused mostly on trade as the two countries were working on “some great deals”. He reiterated that India would not purchase much oil from Russia and was already reducing its imports.
Meanwhile, India’s team of trade negotiators has returned from Washington after intense discussions with US officials, moving “somewhat closer” to a trade deal.
Navjeet Sobti, Almondz Global, said: “While the near-to-medium term trend for domestic equity markets could be volatile, given global economic uncertainty, geo-political tensions and the pending outcome of the US-India tariff settlement, we expect select PSU counters to maintain optimism through Samvat 2082.
“With interest rates expected to come down further and the government’s focus on boosting consumption post a GST rate cut, coupled with income-tax benefits to the salaried class, Sobti expects PSU banking stocks to stay in the limelight on hopes of strong demand for loans.
However, Ponmudi R, CEO of Enrich Money, a SEBI registered online trading and wealth tech firm, said global markets are sending a cautious outlook for today’s trading.
Global sentiment has turned cautious following renewed trade tensions between the US and China. Reports suggest that the Trump administration is considering restrictions on exports to China that use US-origin software, a move that could further strain bilateral trade relations.
Adding to concerns, Washington’s decision to impose a 40 per cent trans-shipment tariff has reignited supply-chain worries, prompting investors to shift toward defensive assets. As a result, US equities closed lower overnight, while Asian markets are trading mixed this morning, reflecting a risk-off tone ahead of the Indian market open.
Published on October 23, 2025
