Sensex, Nifty likely to open on a positive note; GIFT Nifty futures up 0.25%

Stock Market, NSE Nifty 50, BSE Sensex, Global Markets; US Stocks, Asian Stocks: Headline indices Sensex and Nifty will likely start today's (October 7) session on a positive note zone. Last GIFT Nifty futures traded higher by 0.25 per cent points near 25,236.

Asian markets were trading in the green as the US labour data dispelled any fears around recession in the US that could lead the US Fed to go slow in its rate cut pace.

Global Markets Update
Here's how the major global indices fared:

Nasdaq ended  1.22 per cent higher in Friday's session 
S&P 500 also ended 0.9 per cent higher 
Japan's Nikkei also was gaining and was trading nearly 2 per cent higher 
Hong Kong's Hang Seng, meanwhile, was up 0.91 per cent.

Previous session summary

In the previous session amid relentless FII selling and heightening geopolitical tensions, Indian equities tumbled steeply for the fifth straight session. Nifty ended weak by 235 points at 25,015 points.