The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open higher on Monday, following a rally in global markets as signs of the US-Iran peace deal sent crude oil prices lower, easing inflation concerns and boosting investor sentiment.
Asian markets traded higher, while the US stock market surged, as investors cheered signs of progress in talks to end the US-Iran war in the Middle East.
On Friday, the Indian stock market ended higher, supported by gains in select index heavyweights.
The rose 231.99 points, or 0.31%, to close at 75,415.35, while the Nifty 50 settled 64.60 points, or 0.27%, higher at 23,719.30.
“Despite the range-bound setup, trading opportunities continue to emerge across sectors; therefore, participants should maintain their focus on stock selection and disciplined trade management while keeping a close watch on position sizing,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.
Here are key global market cues for Sensex today:
Asian Markets
Asian markets traded higher in a holiday-thinned trading, as crude oil prices dropped amid reports that the Strait of Hormuz may reopen soon. Japan’s Nikkei 225 jumped 2.75% to hit a record of 65,081.96, while the Topix gained 0.65%. Markets in South Korea and Hong Kong are closed for public holidays.
Gift Nifty Today
Gift Nifty was trading around 23,995 level, a premium of nearly 251 points from the Nifty futures’ previous close, indicating a gap-up start for the Indian stock market indices.
Wall Street
US stock market ended higher on Friday, with the Dow Jones reaching a record closing high, and the S&P 500 notching its eighth consecutive weekly gain.
The rallied 294.04 points, or 0.58%, to 50,579.70, while the S&P 500 gained 27.75 points, or 0.37%, to 7,473.47. The Nasdaq Composite closed 50.87 points, or 0.19%, higher at 26,343.97.
Nvidia stock price fell 1.90%, AMD shares jumped 3.99%, Apple share price gained 1.26%, Dell Technologies shares surged 17%, HP stock gained 15%, Qualcomm shares spiked 12%, and Tesla stock price rallied 1.95%.
US-Iran Peace Talks
US President Donald Trump claimed that Washington and Tehran were nearing a broad region and reopening the Strait of Hormuz. In a post on Truth Social, Trump said the agreement had been “largely negotiated” and that only the final details remained before a formal announcement.
However, Iranian media rejected Trump’s claim that the Strait of Hormuz would fully reopen under the proposed agreement, insisting that control over the strategic waterway would remain with Tehran.
US Consumer Sentiment
US consumer sentiment plunged to a record low in May. The University of Michigan’s Surveys of Consumers said its Consumer Sentiment Index dropped to a final reading of 44.8, an all-time low, from 48.2 earlier this month. The index was at 49.8 in April. Economists polled by Reuters had forecast the index unchanged at 48.2.
RBI Dividend
The Reserve Bank announced a record to the government for the year-ended March 2026. The dividend is 6.7% higher than ₹2.69 lakh crore for the 2024-25 fiscal year.
Fuel Price Hike
Petrol and diesel prices were raised by ₹2.61-2.71 per litre on Monday, marking the fourth increase in less than two weeks. by ₹2.61 a litre to ₹102.12 per litre in Delhi from ₹99.51. Diesel rates have been increased by ₹2.71 to ₹95.20 per litre from ₹92.49.
Crude Oil Prices
Crude oil prices tumbled on hopes of a deal to reopen the crucial Strait of Hormuz. Brent crude prices plunged 5.08% to $98.28 a barrel, while US West Texas Intermediate declined 5.29% to $91.49 a barrel.
Gold Rate Today
Gold prices rallied over 1%, supported by a weaker dollar and lower oil prices, amid hopes of a US-Iran peace deal. Spot gold price gained 1.4% to $4,570.88 per ounce, while US gold futures for June delivery rose 1.1% to $4,572.90. Spot silver price jumped 3.9% to $78.42 per ounce.
Dollar
The dollar weakened on hopes of a US-Iran peace deal. Against the yen, the US dollar fell 0.2% at 158.87 yen, while the euro rose 0.3% to $1.1642 and the British pound gained 0.4% to $1.3485.
(With inputs from Agencies)