Global markets look set for a positive start on Friday, with early indicators pointing to gains in Asian and European equities ahead of the US session. The GIFT Nifty, an early gauge of India’s benchmark index, is up 0.17% at 24,396, while US futures are also trading higher. This follows a session where the Nifty 50 closed at 24,317.15, a gain of 66.95 points, and the Sensex ended at 77,928.15, rising 273.55 points.
Asian indices opened higher as investors returned to risk assets following a strong recovery on Wall Street. Technology stocks led the charge after Microsoft and Amazon reported blockbuster quarterly results. The rally has sparked renewed optimism around artificial intelligence spending.
- South Korea’s Kospi: Surged more than 16% after a three-day rout.
- Japan’s Nikkei 225: Soared over 6%.
- Australia’s S&P/ASX 200: Gained 0.89%.
Investors are betting that the sustained growth in cloud computing and AI infrastructure will continue to drive corporate profits. This sentiment has helped lift the broader MSCI Asia Pacific Index.
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Oil prices hit monthly highs amid geopolitical tension
Crude oil markets remained steady on Friday but were on track for their strongest monthly performance since March. The rally has been driven by heightened concerns over global supplies following tensions between the United States and Iran.
Despite signs of improved shipping through the Strait of Hormuz, Brent crude traded above $89 a barrel, while West Texas Intermediate (WTI) hovered near $84 a barrel. The global benchmark has gained more than 23% in July, capping a month marked by sharp volatility as geopolitical issues rattled energy markets.
Corporate earnings and company updates
Several companies reported mixed results for the quarter. Thermax reported a net profit of Rs 25.2 crore, a sharp decline of 83.4% year-on-year, while revenue grew to Rs 2,303 crore. The company also approved the merger of its subsidiary Arm Thermax Cooling Solutions and the demerger of its Bioenergy Solutions unit.
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On the positive side, JBM Auto saw profit rise 14.67% to Rs 42.2 crore, with revenue increasing 15% to Rs 1,442 crore. The company also reappointed Nishant Arya as Managing Director for three years starting May 18, 2027.
Global Health reported a net profit of Rs 158.7 crore, down 0.2% year-on-year, with revenue up 26.5% to Rs 1,304 crore. The company also raised the capacity of its Guwahati hospital to 650 beds from 400 beds.
