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The benchmark Sensex and Nifty indices are likely to open on a strong note on May 10 as trends in the GIFT Nifty indicate a positive start for the broader index with a gain of 70 points.
On 10 May, India's benchmark indices took a hit, with NSE Nifty 50 dropping below 22,000 and BSE Sensex plunging over 1,000 points, both marking over a 1 percent intraday fall.
Nifty dropped below 100-day moving average since November 12 due to election uncertainties and concerns over PM Narendra Modi's expected smaller majority, pushing the benchmark down 3 percent from its record high.
Asian shares rose on Friday, buoyed by positive Wall Street performance driven by strong jobs data, reinforcing expectations for US rate cuts.
The S&P 500 hit a one-month high as US jobless claims rose, fueling speculation of Fed rate cuts.
Oil poised for third consecutive day of gains, boosting weekly performance on US jobs data hinting at Fed rate cuts, supporting risk assets.
Gold inches up in early Asian trading, bolstered by expectations of Fed rate cuts following a surge in initial jobless claims, reaching a nine-month high.
As India's general election reaches halfway, declining voter turnout sparks concerns about disengagement in the world's largest poll.
JPMorgan Chase & Co. is on track to include India in its emerging market debt index from June with most of its clients ready to trade.
FIIs sold shares worth Rs 6,994.86 crore. DIIs pumped in Rs 5,642.53 crore worth of stocks on May 9.
Source: Stock Market Today: Top 10 things to know before the market opens