The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open lower on Monday, following mixed global market cues, amid escalating US-Iran tensions and rising crude oil prices.
Asian markets traded mixed, while the US stock futures slipped after President Donald Trump and Iran rejected peace proposal to end the war in the Middle East.
This week, investors will watch out for key , including the developments in the US-Iran peace talks, meeting between US President Donald Trump and Chinese President , crude oil prices, , FII flows, and other key domestic and global macroeconomic data releases.
On Friday, the Indian stock market ended lower, extending losses for the second consecutive session, weighed down by selling in index heavyweights.
The plunged 516.33 points, or 0.66%, to close at 77,328.19, while the Nifty 50 settled 150.50 points, or 0.62%, lower at 24,176.15.
“Selective opportunities continue to exist in mid and small caps, where valuations remain reasonable relative to earnings visibility and domestic growth drivers such as infrastructure spending and consumption recovery. A stock-specific approach focused on earnings quality remains preferable until greater geopolitical clarity emerges,” said Vinod Nair, Head of Research, Geojit Investments.
Here are key global market cues for Sensex today:
Asian Markets
Asian markets traded mixed amid escalating tensions between the US and Iran and rising oil prices. Japan’s Nikkei 225 gained 0.81%, while the Topix rose 0.32%. South Korea’s Kospi surged 3.67% to a fresh record, while the Kosdaq was marginally higher. Hong Kong Hang Seng index futures indicated a lower opening.
Gift Nifty Today
Gift Nifty was trading around 24,092 level, a discount of nearly 142 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.
Wall Street
US stock market ended higher on Friday, with the S&P 500 and the Nasdaq notching record highs, boosted by gains in AI-related stocks.
The rose 0.02% to 49,609.16, while the S&P 500 gained 0.84% to end at 7,398.93. The Nasdaq closed 1.71% higher at 26,247.08. The S&P 500 and the Nasdaq notched their sixth straight weekly gains, the longest such winning streak since October 2024. The Dow has logged two consecutive weekly advances.
Nvidia stock price rallied 1.76%, AMD shares jumped 11.44%, Intel share price surged 13.93%, Apple stock price gained 2.03%, Microsoft shares fell 1.39%, Micron Technology share price spiked 15.52%, Sandisk shares jumped 16.60% and Tesla stock price rallied 4.02%.
Cloudflare plunged 24%, Trade Desk fell 1.8%, CoreWeave dropped 11.4% and Expedia declined 9%.
US-Iran Peace Talks
US President Donald Trump and Iran rejected each other’s latest to end the war in the Middle East as the two sides struggle to maintain a fragile ceasefire. Writing on Truth Social, Trump signalled frustration with the Iranian reply delivered through diplomatic channels, calling it “TOTALLY UNACCEPTABLE.”
US Nonfarm Payrolls
US employment increased more than expected in April. Nonfarm payrolls increased by 115,000 jobs last month after an upwardly revised 185,000 advance in March. Economists polled by Reuters had forecast payrolls rising by 62,000 jobs after a previously reported 178,000 rebound in March.
Crude Oil Prices
Crude oil prices jumped as the US and Iran failed to agree to a peace proposal while the Strait of Hormuz remained largely closed. Brent crude futures rallied 3.43% to $104.76 a barrel, while US West Texas Intermediate was at $98.93 a barrel, up 3.68%.
Gold Rate Today
Gold prices fell as the lack of progress in US–Iran peace talks pushed oil prices higher, fuelling concerns that elevated inflation could keep interest rates higher for longer. Spot gold price fell 0.6% to $4,687.49 per ounce, while US gold futures for June delivery declined 0.7% to $4,696.60. Spot silver price was steady at $80.32 per ounce.
Dollar
The dollar advanced against its major peers. The dollar index, which measures the greenback’s strength against a basket of six currencies, was trading at 98.001. The euro was down 0.2% at $1.1767, the yen slipped 0.1% to 156.905 yen per dollar and the British pound was 0.3% lower at $1.3597, Reuters reported. Against the Chinese yuan, the US dollar was flat at 6.7951 yuan in offshore trade.
(With inputs from Agencies)