The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open on a cautious note on Tuesday, following mixed cues from global markets.
Asian markets traded mixed, while the US stock market ended flat overnight, as investors await latest developments regarding the US-Iran peace talks and a slew of central banks decisions this week.
On Monday, the Indian stock market snapped its three-day losing run and ended with strong gains.
The Sensex jumped 639.42 points, or 0.83%, to close at 77,303.63, while the Nifty 50 settled 194.75 points, or 0.81%, higher at 24,092.70.
“We continue to advocate a stock-specific approach, focusing on sectors and themes showing strength — particularly energy, metals, capital markets, and pharma — while closely tracking earnings developments and geopolitical cues for further direction,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.
Here are key global market cues for Sensex today:
Asian Markets
Asian stocks traded mixed as investors awaited developments in the US-Iran peace talks and a slew of central bank decisions. Japan’s Nikkei 225 declined 0.49%, while the Topix gained 0.23%. South Korea’s Kospi rose 0.1%, while the Kosdaq dropped 0.92%. Hong Kong Hang Seng index futures indicated a lower opening.
Gift Nifty Today
Gift Nifty was trading around 24,051 level, a discount of nearly 69 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.
Wall Street
US stock market ended mixed on Monday, with the S&P 500 and the Nasdaq eking out modest gains.
The Dow Jones Industrial Average fell 62.67 points, or 0.13%, to 49,168.04, while the S&P 500 rose 8.85 points, or 0.12%, to 7,173.93. The Nasdaq Composite closed 50.50 points, or 0.20%, higher at 24,887.10.
Nvidia stock price jumped 4.1%, AMD shares fell 3.83%, Intel share price gained 2.93%, Apple stock price declined 1.27%, while Tesla stock price rose 0.6%. Verizon shares advanced 1.5% and Domino’s Pizza share price slid 8.8%.
US-Iran War
US official said that President Donald Trump is unhappy with an Iranian proposal because it did not address Iran’s nuclear program. Earlier in the day, Trump discussed the proposal with his top national security aides. The US-Iran conflict remains in a stalemate with energy supplies from the region reduced.
Japanese Bond Yields
Yields on benchmark Japanese government bonds edged towards a 29-year high ahead of policy decision from the central bank. The benchmark 10-year JGB yield rose 0.5 basis point (bp) to 2.475% in early trading, closing in on the 2.49% level hit earlier this month that was the highest since June 1997.
Gold Rate Today
Gold prices were steady as investors awaited more clarity on stalled US-Iran peace talks and key central bank decisions this week. Spot gold price rose 0.2% to $4,693.04 per ounce, while US gold futures for June delivery gained 0.3% to $4,707.80. Spot silver price rose 0.5% to $75.91 per ounce.
Crude Oil Prices
Crude oil prices gained as efforts to end the US-Iran war appear stalled, with the crucial Strait of Hormuz waterway still mainly shut. Brent crude futures for June climbed 0.4% to $108.68 a barrel, while US West Texas Intermediate (WTI) crude for June rose 0.6% to $96.96.
Dollar
The US dollar index, which measures the greenback’s strength against a basket of six currencies, snapped a two-day losing streak with a 0.1% rise to 98.448. The euro was down 0.1% at $1.1715, while the British pound was trading at $1.3527. The Japanese yen steadied and was flat against the dollar at 159.49 yen.
(With inputs from Agencies)
