The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open higher on Friday, following a rally in global markets, amid easing concerns over a broader escalation in the US-Iran war as both the countries continue technical-level talks despite the recent exchange of military strikes.
Asian markets rallied, while the US stock market ended higher overnight, as gains in semiconductor stocks lifted optimism across the technology sector.
On Thursday, the Indian stock market ended higher amid short-covering, and as investors’ focus shifts to Q1 results and domestic macro trends.
The Sensex gained 238.22 points, or 0.31%, to close at 76,741.82, while the Nifty 50 settled 80.75 points, or 0.34%, higher at 23,962.80.
“While the near-term market direction may remain mixed, strong domestic fundamentals are expected to support the broader recovery. While India VIX has moderated from its recent highs, investor focus is also likely to shift towards the June-quarter earnings season, which is expected to drive stock-specific action,” 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 higher, led by buying in semiconductor stocks on renewed optimism over AI-driven demand. The MSCI Asia Pacific Index climbed 0.5%. Japan’s Nikkei 225 gained 1.94%, and the Topix rose 0.77%. South Korea’s Kospi rallied 3.27%, and the Kosdaq Index jumped 5.11%. Hong Kong’s Hang Seng index futures indicated a slightly higher opening.
Gift Nifty Today
Gift Nifty was trading around 24,104 level, a premium of nearly 105 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.
Wall Street
US stock market ended higher, led by a rally in chip stocks.
The Dow Jones Industrial Average rose 0.27% to 52,487.41, while the S&P 500 gained 0.81% to end the session at 7,543.66. The Nasdaq closed 1.30% higher at 26,206.89.
Nvidia stock price fell 0.66%, AMD stock jumped 5.67%, Broadcom shares gained 3.20%, Amazon shares rose 1.40%, Micron Technology share price rallied 4.52%, Meta Platforms shares surged 4.70%, Tesla stock price advanced 3.20% and SpaceX shares gained 2.63%.
US-Iran War
The US launched fresh strikes targeting Iran early on Thursday, and Tehran responded by targeting Washington’s regional allies in an exchange of fire that threatened the interim deal that was intended to help end the war in the Middle East. A US official said that Washington is continuing to pursue technical talks with Tehran despite two days of clashes.
TCS Q1 Results
TCS Q1FY27 net profit fell 2.7% QoQ to ₹13,349 crore, while revenue grew 2.2% to ₹72,275 crore. Revenue growth in constant currency (CC) terms was 0.4% QoQ. Total Contract Value (TCV) in Q1 was $9.5 billion. EBIT declined 3% QoQ to ₹17,317crore, while EBIT margin dropped to 24% from 25.3%, QoQ.
TCS also announced an interim dividend of ₹12 per share, and fixed Wednesday, July 15, as the dividend record date.
US Jobless Claims
The number of Americans filing claims for unemployment benefits fell last week. Initial claims for state unemployment benefits slipped 2,000 to a seasonally adjusted 215,000 for the week ended July 4. Economists polled by Reuters had forecast 218,000 claims for the latest week.
Japan Inflation
Japan’s wholesale prices in June surged 7.1% from a year earlier, accelerating from the previous month, Reuters reported. The rise in the producer price index was faster than the median market forecast for a 6.8% increase and followed a revised 6.6% increase in May.
Crude Oil Prices
Crude oil prices steadied, as talks between the US and Iran continued despite the recent attacks. Brent crude oil price eased 0.09% to $76.23 a barrel, while the US West Texas Intermediate (WTI) crude declined 0.24% to $71.91.
Gold Rate Today
Gold prices steadied, but was on course for a weekly decline. Spot gold prices were flat at $4,122.09 per ounce, and were headed for an over 1% weekly fall. US gold futures for August delivery fell 0.2% at $4,131.50. Spot silver prices eased 0.1% to $59.94 per ounce.
Dollar
The dollar eased a touch but was set to end the week little changed. Against the yen, the dollar stood at 162.36, not far from a four-decade peak hit last week, Reuters reported. The euro rose 0.02% to $1.1433, while Sterling rose 0.03% to $1.3413 and was set to rise 0.45% for the week.
(With inputs from Agencies)
