The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open lower on Friday, following steep losses in global markets amid the escalating US-Iran war and uncertainty over any peace deal.
Asian markets slumped, while the US stock market ended sharply lower overnight, with the Nasdaq falling more than 2% to confirm a correction.
The Indian stock market was closed for trading on Thursday, 26 March 2026, on account of Ram Navami 2026.
On Wednesday, the Indian stock market ended with strong gains, extending its rally for the second consecutive session.
The Sensex jumped 1,205.00 points, or 1.63%, to close at 75,273.45, while the Nifty 50 settled 394.05 points, or 1.72%, higher at 23,306.45.
“The ongoing recovery is likely to remain fragile and contingent on further clarity around geopolitical developments. While easing crude prices and negotiation signals have provided near-term relief, any reversal in sentiment — particularly around energy infrastructure risks — could quickly weigh on markets,” 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 lower on Friday amid uncertainty over the end of the prolonged US-Iran war. Japan’s Nikkei 225 declined 1.6%, and the Topix fell 0.8%. South Korea’s Kospi plunged 3.6% and the Kosdaq dropped 2%. Hong Kong Hang Seng index futures indicated a lower opening.
Gift Nifty Today
Gift Nifty was trading around 23,116 level, a discount of nearly 184 points from the Nifty futures’ previous close, indicating a gap-down start for the Indian stock market indices.
Wall Street
US stock market ended lower on Thursday, with the Nasdaq confirming a correction, as fears of escalation in the US-Iran war spooked investors.
The Dow Jones Industrial Average declined 469.38 points, or 1.01%, to 45,960.11, while the S&P 500 dropped 114.74 points, or 1.74%, to 6,477.16. The Nasdaq Composite closed 521.74 points, or 2.38%, lower at 21,408.08.
Nvidia stock price plunged 4.16%, AMD shares tanked 7.49%, Meta share price slumped 7.92%, Alphabet stock price lost 3.06%, Microsoft share price fell 1.37%, and Tesla stock price declined 3.59%.
US-Iran War
US President Donald Trump said he will pause attacks on Iran’s energy plants for 10 days at Tehran’s request, adding that talks with Iran were going “very well.” However, an Iranian official dismissed Washington’s proposal to end the conflict as “one-sided and unfair.”
Japanese Bond Yields
The yield on five-year Japanese government bonds climbed to a new record high. The five-year yield rose 3 basis points to 1.770%, while the benchmark 10-year JGB yield rose 3 bps to 2.300%. The two-year yield gained 1.5 bps to 1.35%, after touching a nearly three-decade high in the previous session.
Goldman Sachs Downgrades Indian Equities
Amid worsening macro and slowing earnings growth, Goldman Sachs has downgraded Indian equities to ‘marketweight’ from ‘overweight’ on less attractive risk/reward than north Asian markets. It also lowered Nifty 50’s 12-month target to 25,900 from 29,300 previously, implying 13% local returns, based on earnings growth of 8% in CY26 and 13% in FY27 and 19.5x target PE.
China Industrial Profits
Profits at China’s industrial firms grew 15.2% in the first two months over the same period last year. The growth accelerated from a 0.6% increase for the whole of last year. Industrial profit figures cover firms with annual revenue of at least 20 million yuan ($2.90 million) from their main operations.
Crude Oil Prices
Crude oil prices fell after President Trump extended his deadline for Iran to reach a deal. Brent crude oil price fell 0.76% to $107.19 a barrel, while the US West Texas Intermediate (WTI) crude futures declined 0.43% to $94.07.
Gold Rate Today
Gold and silver rates today pared losses. COMEX gold rate today was trading 0.33% higher at $4,423 per ounce, after falling almost 3% in the previous session. COMEX silver prices were up 2.9% to $68.13 per ounce.
Dollar
The dollar was higher toward multi-month peaks on Friday. Against a basket of currencies, the dollar was marginally higher at 99.93, though was on track for a 2.3% rise this month, which would mark its biggest gain since July last year. The yen stood at 159.61, while the euro was off a touch 0.03% at $1.1525. Sterling eased 0.05% to $1.3325, Reuters reported.
(With inputs from Agencies)
