The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open lower on Monday, following a mixed trend in the global markets, amid cautiousness over the escalation of the US-Iran war in the Middle East.
Asian markets traded lower, while the US stock futures fell, as the US-Iran war escalated once again following renewed attacks in the Middle East.
On Thursday, the indices ended with minor gains after witnessing profit booking at day’s high levels.
The Sensex rose 109.25 points, or 0.14%, to close at 77,100.47, while the Nifty 50 settled 34.35 points, or 0.14%, higher at 24,056.00.
The domestic equity for a holiday on Friday on account of Muharram.
This week, investors will watch out for key , including the developments over the US-Iran peace talks, India-US trade deal, trends in FPI flows, crude oil prices, and other key domestic and global macroeconomic indicators.
‘While the broader trend remains constructive, traders should avoid excessive leverage and maintain disciplined risk management. Sustained FII participation, continued moderation in crude oil prices, and stability in global markets will be critical for determining the strength and durability of the next leg of the market rally,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.
Here are key global market cues for Sensex today:
Asian Markets
Asian markets traded lower on Monday amid the latest escalation in the US-Iran war. Japan’s Nikkei 225 declined 0.98%, while the Topix fell 0.21%. South Korea’s Kospi slipped 1.23%, while the Kosdaq rallied 0.97%. Hong Kong’s Hang Seng index futures indicated a higher opening.
Gift Nifty Today
Gift Nifty was trading around 24,087 level, a discount of nearly 15 points from the Nifty futures’ previous close, indicating a tepid start for the Indian stock market indices.
Wall Street
US stock market ended lower on Friday, dragged down by a steep drop in AI-related chip stocks.
The fell 0.09% to 51,876.11, while the S&P 500 eased 0.05% to end at 7,353.95. The Nasdaq closed 0.24% lower at 25,297.62 points. For the week, the S&P 500 fell 2.05% and the Nasdaq plunged 4.7%.
Nvidia stock price dropped 1.64%, AMD shares fell 2.06%, Broadcom shed 3.67%, Microsoft shares jumped 5.71%, Apple stock price rallied 3.14%, Amazon share price gained 2.50%, Meta rose 1.36%, while Alphabet shares slipped 2.19%.
Micron Technology shares tanked 6.69%, Tesla stock price surged 1.22%, while SpaceX shares rose 0.15% and Moderna share price surged 12.59%.
US-Iran War
The US and Iran have agreed to before peace talks resume this week over the Strait of Hormuz and other issues to end the war, Axios reported. Both the countries exchanged fresh attacks over the weekend and accused each other of violating the ceasefire.
US Consumer Sentiment
US consumer sentiment rebounded from record lows in June. The University of Michigan’s Surveys of Consumers said its Consumer Sentiment Index increased to a final reading of 49.5 this month from 44.8 in May. It was a slight improvement from 48.9 earlier this month. Economists polled by Reuters had forecast the index rising to a final reading of 50.0.
India GDP Growth
Goldman Sachs has upgraded India’s macroeconomic outlook for 2026 following the recent US-Iran peace deal, raising its real GDP growth forecast while lowering its inflation and current account deficit projections. Goldman Sachs projects India’s GDP to grow faster at 6.5% as against its earlier forecast of 6.1% growth in the current fiscal.
Gold Rate Today
Gold prices slipped on renewed US-Iran attacks and expectations of US Federal Reserve interest rate hikes. Spot gold price fell 0.5% to $4,067.99 per ounce, while US gold futures for August delivery lost 0.4% to $4,081.20. Spot silver declined 1.1% to $58.49 per ounce.
Crude Oil Prices
Crude oil prices rose following days of tit-for-tat strikes by the United States and Iran in the Middle East. futures rose 0.67% to $72.51 a barrel, while US West Texas Intermediate crude was at $69.94 a barrel, up 1.03%.
(With inputs from Agencies)