rewrite this title and make it good for SEOAmidst ongoing Indo-Pak conflict, what GIFT Nifty futures signal ahead of Friday’s opening bell on Dalal Street

GIFT Nifty futures, an early indicator of the headline Nifty 50 index, were down 304 points, or 1.3 per cent, at 23,885 at the last count in the early hours of Friday, as India continued its retaliatory action across major cities in Pakistan following the neighbouring country’s failed attempts to target bordering regions on the Indian side, including UT Jammu and Kashmir. The contract is tracked widely for predicting the nature of trade in the coming session on Dalal Street, though readings closer to the opening bell tend to offer a clearer scenario. According to analysts, the GIFT Nifty reading might change significantly closer to the opening bell followed by Friday’s opening bell on the Street.

So far, Dalal Street has staged a limited reaction to the evolving geopolitical situation, with market experts not ruling out the possibility of a stronger reaction in the next few days prior to the eruption of the war-like situation in the late hours on Thursday.

Here are 10 key things to know about the market, as of 3:30 am on Friday: 

On Thursday, the Sensex gave up 412 points, or 0.5 per cent, to end at 80,334.8 while the Nifty 50 settled with a loss of 140.6 points, or 0.6 per cent, at 24,273.8, as selling pressure in financial stocks outweighed buying interest in auto and select IT shares.
Except four stocks that registered mid gains, all Nifty50 components finished the day on a negative note. Shriram Finance, Eternal, M&M, Adani Enterprises, Hindalco, ONGC and Tata Consumer Products—declining around 3-4.5 per cent—were the top blue-chip losers in the 50-blue-chip basket.
Among index heavyweights, HDFC Bank and M&M weighed on both main indices while stocks like HCLTech and Infosys lent some support, keeping the downside in check.

The rupee slumped by 84 paise to settle at 85.61 against the US dollar amid the weakness in equities and strength in the greneback overseas. 

The dollar index—which measures the US currency against six major peers other than the rupee—rose 1.0 per cent to 100.6. 

Brent crude futures, a global benchmark for oil rates, gained 2.8 per cent to close at $62.8 a barrel. Lower oil prices augur well for India, which meets four-fifths of its oil requirement through imports, settling payments in dollars.

Later in the day, most European markets also held on to gains, with the pan-continental Stoxx 600 gauge rising 0.4 per cent though the UK’s FTSE declined 0.3 per cent. Germany’s DAX and France’s CAC rose 1.0 per cent and 0.9 per cent, respectively.

US stocks finished a fairly positive session higher, with the Dow Jones rising 254.5 points, or 0.6 per cent, to 41,368.5, after the Donald Trump administration indicated no intention to intervene in the Indo-Pak conflict, with Vice President JD Vance stating that it is “none of our business”. The S&P 500, the other main American equity benchmark, gained 32.7 points, or 0.6 per cent, to end at 5,663.9 while the US tech stocks-heavy Nasdaq Composite rose 190 points, or 1.1 per cent, to settle at 17,928.1. 
Volatility index India VIX—also known as the fear gauge in market parlance—rose 10.2 per cent to 21.0 on Thursday. However, many analysts don’t consider it a direct indicator of market direction as it determines the expected volatility on either side over a given period of time. 
After India’s Operation Sindoor this week, market guru Anil Singhvi had pointed out that fresh escalations from India and Pakistan might determine more elaborate moves on Dalal Street.   

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