The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open mildly higher on Tuesday, following a rally in global markets, despite uncertainty over the US-Iran peace talks.
Asian markets traded mostly higher, while the US stock market rallied overnight, with the Dow Jones hitting a record closing high.
On Monday, the ended lower amid profit booking and an uptick in crude oil prices following fresh strikes between the US and Iran.
The Sensex fell 372.10 points, or 0.48%, to close at 76,728.37, while the Nifty 50 settled 109.75 points, or 0.46%, lower at 23,946.25.
“Indian equities are expected to remain cautiously optimistic amid renewed geopolitical tensions in West Asia. Market participants will closely monitor the US-Iran peace talks in Qatar, with initial discussions centred on ensuring safe navigation through the Strait of Hormuz. Until there is greater clarity on the durability of the ceasefire, geopolitical developments are expected to remain a key driver of global sentiment,” said Siddhartha Khemka – Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.
Here are key global market cues for Sensex today:
Asian Markets
Asian markets traded mostly higher on Tuesday, following an overnight rally on Wall Street. Japan’s Nikkei 225 gained 0.29% and the Topix rose 0.17%. South Korea’s Kospi fell 0.92%, while the Kosdaq declined 0.88%. Hong Kong Hang Seng index futures indicated a lower opening.
Gift Nifty Today
Gift Nifty was trading around 24,011 level, a premium of nearly 38 points from the Nifty futures’ previous close, indicating a mildly positive start for the Indian stock market indices.
Wall Street
US stock market ended sharply higher on Monday, with the Dow Jones hitting a record closing high, led by a rally in major technology shares.
The Dow Jones Industrial Average gained 306.63 points, or 0.59%, to 52,182.74, while the S&P 500 rallied 86.41 points, or 1.18%, to 7,440.43. The Nasdaq Composite closed 522.53 points, or 2.07%, higher at 25,820.14.
Nvidia stock price rose 1.27%, AMD shares jumped 3.43%, Microsoft shares fell 1.18%, Amazon share price rallied 3.20%, Apple stock price eased 0.72%, Alphabet shares surged 4.96%, Meta gained 2.24%, Tesla stock price spiked 8.46% and SpaceX shares jumped 7.15%.
US-Iran Talks
Iran has denied reports that it has any scheduled in the coming days. Meanwhile, the White House announced that US Special Envoy Steve Witkoff and Senior Adviser to President Donald Trump, Jared Kushner, are scheduled to travel to Doha on Tuesday for discussions with Iranian officials.
Japan Factory Output
Japan’s factory output rose at a slower-than-expected pace in May from the previous month. Industrial output grew 0.5% in May from the previous month, versus the median market forecast for a 1.1% rise. It marked the second month of growth.
India IIP Growth
India’s industrial output, as measured by the (IIP), grew 5.1% year-on-year in May, mainly boosted by better performance of the manufacturing sector. The reading stood at 4.9% in April.
HDFC Bank’s Appoints New Chairman, CFO
The board of HDFC Bank approved the appointment of former chief election commissioner (CEC) and financial services secretary as part-time chairman and additional (independent) director or four years effective 30 June 2026. The board also approved the appointment of Puneet Sharma as chief financial officer (CFO) with effect from 1 December, 2026.
Gold Rate Today
Gold prices fell over 1% and was set for a fourth straight monthly decline. Spot gold price declined 1.5% to $3,957.74 per ounce and was set for a monthly fall of 12.7%. US gold futures for August delivery lost 1.7% to $3,971.60. Spot silver prices fell 2.4% to $56.89 per ounce.
Crude Oil Prices
Crude oil prices traded lower ahead of the expected US-Iran talks in Doha. Brent crude oil price declined 1.03% to $72.40 a barrel, while the US West Texas Intermediate (WTI) crude fell 0.83% to $70.16.
Dollar
The dollar index, which measures the US currency against six other units, was at 101.6, after dropping 0.26% in the previous session, but is on course for a 1.3% rise in the second quarter. The yen weakened to a 40-year low of 162.27 per dollar. The euro was at $1.14165, while sterling last bought $1.3251.
(With inputs from Agencies)