The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open higher on Monday, following a rally in global markets, amid renewed hopes of US-Iran peace talks.
Asian markets traded higher, while the US stock market ended higher last week, with the S&P 500 and Nasdaq closing at record highs.
On Friday, the Indian stock market ended sharply lower as soaring crude oil prices and escalating US-Iran war in the Middle East dented sentiment.
The Sensex crashed 999.79 points, or 1.29%, to close at 76,664.21, while the Nifty 50 settled 275.10 points, or 1.14%, lower at 23,897.95.
“Markets are expected to remain sensitive to geopolitical developments, crude oil movements and foreign fund flows, with near-term sentiment likely to stay cautious,” 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 despite escalating tensions in the Middle East and elevated crude oil prices. Japan’s Nikkei 225 gained 0.53% to hit a record high, while South Korea’s Kospi jumped 1% to also a record level. Hong Kong Hang Seng index futures indicated a higher opening.
Gift Nifty Today
Gift Nifty was trading around 24,108 level, a premium of nearly 185 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.
Wall Street
US stock market ended higher on Friday, with the S&P 500 and Nasdaq closing at record highs, on optimism for possible US-Iran peace talks.
The Dow Jones Industrial Average fell 79.61 points, or 0.16%, to 49,230.71, while the S&P 500 gained 56.68 points, or 0.80%, to 7,165.08. The Nasdaq Composite closed 398.09 points, or 1.63%, higher at 24,836.60. For the week, the S&P 500 rose 0.55%, the Nasdaq rallied 1.5%, and the Dow fell 0.44%.
Nvidia stock price gained 4.32%, AMD and Arm shares jumped by about 14%, Amazon share price rallied 3.49%, and Microsoft shares gained 2.13%.
US-Iran War
Iran through Pakistani mediators gave the US a new proposal on reopening of the Strait of Hormuz and the ending of the war, with nuclear negotiations postponed for a later stage, Axios reported on Sunday, citing a U.S. official and two sources with knowledge of the matter. The development follows the collapse of planned talks in Pakistan.
Reliance Q4 Results
Reliance Industries reported a 12.6% YoY fall in its Q4FY26 consolidated net profit to ₹16,971 crore, while its consolidated revenue from operations rose 12.9% YoY to ₹2,98,621 crore. Consolidated EBITDA for the quarter declined 0.3% YoY to ₹48,588 crore, while EBITDA margin shrank by 200 bps YoY to 14.9%. Reliance Industries also announced a ₹6 per share”>dividend of ₹6 per share for FY26.
Crude Oil Prices
Crude oil prices rallied as peace talks between the US and Iran stalled while shipments through the Strait of Hormuz remained limited. Brent crude futures gained 2.05% to $107.49 a barrel and US West Texas Intermediate was at $96.17 a barrel, or 1.88%.
Gold Rate Today
Gold prices fell pressured by a firm dollar. Spot gold price declined 0.3% to $4,694.26 per ounce. Last week, the metal lost 2.5% to snap a four-week winning streak. US gold futures for June delivery fell 0.9% to $4,697.60. Spot silver prices fell 0.3% to $75.48 per ounce.
Dollar
The US dollar rose on safe-haven demand. The dollar index, which measures the US currency against six major peers, was at 98.623. The euro eased 0.14% to $1.1706, while sterling bought $1.35155, down 0.12%. The Japanese yen weakened to 159.51 per US dollar.
(With inputs from Agencies)
