The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open on a cautious note on Tuesday, amid ongoing US-Iran peace talks.
Asian markets traded lower on Monday, while the US stock market closed a little unchanged.
The Indian stock market witnessed broad-based buying on Monday, July 27, with benchmark indices rising nearly 1% each to snap a five-session losing streak. The 30-share Sensex climbed 776 points, or 1.02%, to settle at 76,835.78, while the NSE Nifty 50 advanced 229 points, or 0.96%, to close at 23,995.95.
“Indian equities are witnessing a short-term relief, as de-escalation in West Asia and the resultant fall in crude oil prices provided interim support. Going ahead, geopolitical developments and direction in crude oil prices are likely to be key drivers in the near term. The Nifty 50 snapped its five-session losing streak and ended Monday 1% higher at 23,996, supported by a 11% decline in Brent crude oil prices (88/bbl), firm global cues and broad-based buying in IT stocks. Investor sentiment also improved on expectations that the US Federal Reserve will keep policy rates unchanged,” said Siddhartha Khemka – Head of Research, Wealth Management, Motilal Oswal Financial Services.
Here are key global market cues for Sensex today:
Asian markets
Asia-Pacific markets traded lower on Tuesday, led by sharp losses in South Korea. The benchmark Kospi tumbled 5.93% at the open, while the small-cap Kosdaq declined 3.63%. Japan’s Nikkei 225 fell 0.65%, with the broader Topix index down 0.63%. Meanwhile, Australia’s S&P/ASX 200 slipped 0.38% in early trading.
Gift Nifty today
Gift Nifty was trading around 24,000 level, a discount of nearly 28 points from the Nifty futures’ previous close, indicating a gap-down start for the Indian stock market indices.
Crude oil prices
Oil prices continued to fall sharply on Tuesday, July 28, after US President Donald Trump said Washington and Tehran were engaged in talks to help resolve the Middle East conflict.
West Texas Intermediate (WTI) crude dropped below $82 per barrel after tumbling more than 7% in the previous session, while Brent crude posted its steepest single-day decline in over three months, closing near $88 per barrel.
Wall Street
Wall Street closed on a mixed note on Monday as investors remained cautious ahead of quarterly earnings from major technology companies later this week. Market participants also kept a close watch on elevated oil prices, amid concerns that persistent inflationary pressures could prompt the Federal Reserve to maintain a hawkish stance on interest rates.
The S&P 500 inched up 0.02% to close at 7,413.18, while the Dow Jones Industrial Average gained 0.51% to settle at 52,210.08. Meanwhile, the Nasdaq slipped 0.18% to end the session at 24,932.08.
Tech giants Microsoft, Amazon, Meta, and Apple are scheduled to announce their quarterly earnings this week. Investors are also assessing whether the AI-driven rally that has powered markets over the past few years is beginning to lose momentum.
Sell-off in US chip stocks
Chip stocks extended their decline for a third consecutive session on Monday amid a series of negative developments. Shares of Nvidia and AMD dropped 5% each, while Seagate slipped 4% ahead of the company’s quarterly earnings announcement later in the day.
Meanwhile, US-listed shares (ADRs) of SK Hynix tumbled 7.5% overnight, closing below their IPO price of $149. Micron and Western Digital also ended lower, falling 2% and 4%, respectively.
US-Iran war
President Donald Trump has decided to hold off on military strikes against Iran to give diplomacy another chance, according to an Axios report cited by Bloomberg. Despite the move, it remains unclear whether the two sides have held any substantive negotiations.
At the same time, officials from Iran and Oman are reportedly engaged in talks aimed at restoring shipping through the Strait of Hormuz, a strategically important route linking the Persian Gulf to global markets. The waterway normally carries around one-fifth of the world’s daily oil supplies during peacetime.
Q1 results FY27
Amid ongoing earnings season, around 69 companies are scheduled to report their April-June quarter earnings on Tuesday.
Larsen and Toubro (L&T), Hindustan Unilever (HUL), Varun Beverages, Suzlon Energy, Tata Capital, Ambuja Cements are among the companies to declare their Q1 results 2026 today.
Gold rate today
Gold prices remained higher after US President Donald Trump said Washington and Iran were engaged in talks aimed at ending the conflict, easing concerns that the war could fuel inflation and increase the chances of higher interest rates.
The precious metal traded near $4,075 an ounce in early trade after rising 0.6% on Monday. Gold has stayed close to the $4,000-an-ounce mark since late June, supported by bargain buying that has helped it remain above the key psychological level closely watched by traders.
However, bullion has fallen more than 20% since the conflict began five months ago, bringing an end to the multiyear rally that had pushed prices to a record high of nearly $5,600 an ounce in late January.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
