Indian benchmark indices Sensex and Nifty 50 are likely to see higher start on October 7, tracking cues from GIFT Nifty trading around 25,246.50 , a short while ago this morning.

In the highly volatile session on October 4, the Indian equity markets ended on a negative note, extending losing streak on the fourth straight session amid escalating geopolitical tensions.

The 30-share benchmark index ended at 81688.45 down by -808.65 points or by -0.98 % and then NSE Nifty was at 25014.6 down by -235.5 points or by -0.93 %.

Domestic investors will be keeping a close eye on the RBI MPC meeting that commences today. The newly reconstituted Monetary Policy Committee of the Reserve Bank of India (RBI) is expected to maintain the key policy rate, or repo rate, at 6.5 per cent, marking the tenth consecutive meeting with no change. The RBI's decision will be announced on October 9, 2024.

On the global front, In the US, a stronger-than-expected jobs report released on Friday bolstered confidence in the possibility of a "soft landing" for the US economy, leading the Dow to close at a record high. Non-farm payrolls for September surged to 254,000, up from 159,000 the previous month, while the unemployment rate dropped to 4.1 per cent from 4.2 per cent.

Consequently, the Dow Jones gained 0.81 per cent, the S&P 500 jumped 0.90 per cent, and the tech-heavy Nasdaq rose 1.22 per cent, marking the fourth consecutive week of gains for all three indices.

Asian markets also followed suit, with Japan’s Nikkei leading the way, gaining 2 per cent as investors anticipate a week filled with central bank decisions across the region. Three central banks—Bank of Korea, Reserve Bank of New Zealand, and Reserve Bank of India—are set to announce their interest rate decisions this week.

Back home, Top traded Volumes on NSE Nifty – Tata Steel Ltd. 53880875.00, HDFC Bank Ltd. 24341616.00, Oil And Natural Gas Corporation Ltd. 23104209.00, Power Grid Corporation of India Ltd. 20121706.00, State Bank of India 20097454.00, On NSE, total number of shares traded was 414.73 Crore and total turnover stood at Rs. 127530.48 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 752768 with a total turnover of Rs. 50889.85 Crore. Along with this total number of contracts traded in stock futures were 1677548 with a total turnover of Rs. 134425.23 Crore. Total numbers of contracts for index options were 245491680 with a total turnover of Rs. 16904369.62 Crore. and total numbers of contracts for stock options were 6176177 with a total turnover of Rs. 504315.33 Crore.

The FIIs on 04/10/2024 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 17919.90 Crore and gross debt purchased stood at Rs. Crore, while the gross equity sold stood at Rs. 33281.35 Crore and gross debt sold stood at Rs. Crore. Therefore, the net investment of equity and debt reported were Rs. -15361.45 Crore and Rs.