Indian stock market: 10 key things that changed for market overnight - Gift Nifty, Nvidia earnings to Nikkei rally

The key benchmark indices of the Indian stock market, Sensex and Nifty 50, are expected to open higher on Thursday, following gains in global markets after Nvidia earnings fueled a rally in global AI chip stocks.

Asian markets traded higher, with the Nikkei reclaiming 50,000 level, while the US stock market gained overnight, led by tech stocks.

On Wednesday, the Indian stock market ended higher, led by gains in select index heavyweights, with the benchmark Nifty 50 reclaiming 26,000 level.

The Sensex rallied 513.45 points, or 0.61%, to close at 85,186.47, while the Nifty 50 settled 142.60 points, or 0.55%, higher at 26,052.65.

“We expect the market to witness a gradual up-move with a cautious undertone as the global macro data unfolds and the market awaits the conclusion of the first phase of the India-US trade deal,” said Siddhartha Khemka, Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.

Here are key global market cues for Sensex today:

Asian Markets

Asian markets traded higher on Thursday, led by a rally in chips stocks after Nvidia earnings. Japan’s Nikkei 225 index jumped 3.4% to reclaim the 50,000 level, while the Topix index gained 1.67%. South Korea’s Kospi index rallied 2.23%, and the Kosdaq rose 1.75%. Hong Kong’s Hang Seng Index futures indicated a slightly lower opening.

Gift Nifty Today

Gift Nifty was trading around 26,145 level, a premium of nearly 74 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.

Wall Street

US stock market ended a choppy session higher on Wednesday, led by gains in technology stocks ahead of Nvidia results.

The Dow Jones Industrial Average rose 47.03 points, or 0.10%, to 46,138.77, while the S&P 500 gained 24.84 points, or 0.38%, to 6,642.16. The Nasdaq Composite closed 131.38 points, or 0.59%, higher at 22,564.23.

Nvidia share price rallied more than 5% after ending the regular session up 2.8%. Alphabet shares gained 2.82%, Microsoft shares fell 1.35%, AMD shares declined 2.93%, Apple stock price rose 0.42%, while Target shares fell 2.8%. Tesla stock price added 0.68%.

Nvidia Results

Nvidia stock price jumped 5% in extended trading, setting up the company to add $220 billion in market value, after the AI market bellwether reported its Q3 earnings. Nvidia reported profit of $31.9 billion, or $1.30 per share in the fiscal third quarter ending October 2025, a 65% increase from the same time last year. Its Q3 sales revenue climbed 62% to $57 billion.

Nvidia expected Q4 sales of $65 billion, plus or minus 2%, compared with analysts’ average estimate of $61.66 billion. It forecast an adjusted gross margin of 75% for the period, plus or minus 50 basis points.

US Fed Minutes

A majority of US Federal Reserve policymakers supported further interest rate cuts, though not all committed to making the reduction at their next meeting in December, according to US Federal Reserve meeting minutes. Many officials said “it would likely be appropriate” to keep rates “unchanged for the rest of the year,” a sign of strong divisions among policymakers.

US Trade Deficit

US trade deficit fell by nearly 24% to $59.6 billion in August, from $78.2 billion in July. Imports of goods and services dropped 5% to $340.4 billion in August from July, while US exports rose 0.1% to $280.8 billion.

China LPR

China left benchmark lending rates unchanged for the sixth consecutive month in November, matching market expectations. The People’s Bank of China kept the one-year loan prime rate (LPR) at 3.0%, while the five-year LPR was unchanged at 3.5%.

Japan Bonds Yields

Japanese government bonds (JGBs) continued their slide, sending benchmark yields to a 17-year high. The 10-year JGB yield rose 3 basis points to 1.795%, briefly hitting 1.8% earlier in the session, its highest level since June 2008. The two-year JGB yield rose 2.5 bps to 0.95%, and the five-year yield rose 4 bps to 1.300%. The yen traded near a 10-month low against the dollar and a record low versus the euro.

Gold Prices

Gold prices extended gains, continuing to claw back losses after its recent drop, showing demand for the precious metal remains strong. Gold price rose 0.8% to $4,109.12 an ounce, after having risen 0.3% in the previous session.

Crude Oil Prices

Crude oil prices traded higher. Brent crude oil rose 0.38% to $63.73 a barrel, while the US West Texas Intermediate (WTI) crude futures gained 0.39% to $59.67.

(With inputs from Reuters)