From Gift Nifty, Donald Trump’s China visit to Nasdaq rally: 10 things that changed for Indian stock market overnight

The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open higher on Thursday, following upbeat cues from global markets.

Asian markets gained, while the US stock market ended mostly higher overnight, led by a rally in technology stocks.

On Wednesday, the Indian stock market ended with modest gains, snapping its four-day losing streak.

The Sensex rose 49.74 points, or 0.07%, to close at 74,608.98, while the Nifty 50 settled 33.05 points, or 0.14%, higher at 23,412.60.

“The rebound was largely driven by oversold market conditions and buying in select heavyweight stocks. However, investor sentiment remained cautious amid ongoing geopolitical uncertainty surrounding the US-Iran conflict and persistent foreign institutional outflows. Meanwhile, stock-specific action driven by earnings announcements continued to dominate individual pockets of the market,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.

Here are key global market cues for Sensex today:

Asian Markets

Asian markets traded mixed on Thursday ahead of the meeting between US President Donald Trump and his Chinese counterpart Xi Jinping for clues on the future of US-China ties. Japan’s Nikkei 225 rose 0.66%, while the Topix fell 0.23%. South Korea’s Kospi gained 1.63%, while the Kosdaq rallied 1.31%. Hong Kong Hang Seng index futures indicated a higher opening.

Gift Nifty Today

Gift Nifty was trading around 23,540 level, a premium of nearly 78 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.

Wall Street

US stock market ended mostly higher, with gains in S&P 500 and Nasdaq, led by artificial intelligence-related tech shares.

The Dow Jones Industrial Average fell 67.36 points, or 0.14%, to 49,693.20, while the S&P 500 rallied 43.29 points, or 0.58%, to 7,444.25. The Nasdaq Composite closed 314.14 points, or 1.20%, higher at 26,402.34.

Nvidia stock price rallied 2.29%, Microsoft shares fell 0.63%, Apple stock price rose 1.38%, Amazon shares gained 1.62%, Meta share price surged 2.26%, and Tesla stock price jumped 2.73%. Ford shares spiked 13.2%.

Trump’s China Visit

US President Donald Trump landed in Beijing on Wednesday and will head into a series of meetings with China’s Xi Jinping. Trump was accompanied by a group of US executives, including Tesla CEO Elon Musk and Nvidia boss Jensen Huang.

US Producer Prices

US producer prices posted their biggest increase in four years in April. The PPI for final demand surged 1.4% last month, the largest rise since March 2022, after an upwardly revised 0.7% advance in March. Economists polled by Reuters had forecast the PPI gaining 0.5% after a previously reported 0.5% increase in March. In the 12 months through April, the PPI jumped 6.0%, the largest increase since December 2022 and followed a 4.3% rise in March.

US Treasury Yields

US treasury yields rose, with longer-dated yields reaching the highest levels since mid-2025. The yield on benchmark US 10-year notes was up 0.2 basis points at 4.473%. It earlier reached 4.50%, the highest since June 11. The 30-year yields surged above 5%. The 2-year note yield fell 1.1 basis points to 3.985% after earlier reaching 4.017%, the highest since March 27.

Japanese Bond Yields

The yield on Japan’s benchmark government bond (JGB) climbed for a fourth consecutive session to a near three-decade high amid inflation fears. The 10-year JGB yield climbed 2 basis points (bps) to 2.605%, its highest level since May 1997.

Gold Rate Today

Gold prices rose as investors focused on the Trump-Xi meeting. Spot gold price gained 0.3% to $4,699.87 per ounce, while US gold futures for June delivery were steady at $4,706.90. Spot silver price fell 0.4% to $87.64 per ounce.

Crude Oil Prices

Crude oil prices rose ahead of the Trump-Xi meeting and as traders focused on the US-Iran war. Brent crude futures rose 0.12% to $105.76 a barrel, while US West Texas Intermediate futures gained 0.12% to $101.14.

Dollar

The dollar got a lift from elevated US Treasury yields. Against a basket of currencies, the US dollar was last at 98.46, up 0.63% for the week thus far. The euro was little changed at $1.1716 and Sterling last bought $1.3527. Dollar fell 0.04% against the yen to 157.83, while the offshore yuan held at a more than three-year high and was last little changed at 6.7860 per dollar.

(With inputs from Agencies)