From Gift Nifty, Iran war, Trump tariffs to Kospi rally: 10 key things that changed for Indian stock market overnight
Gift Nifty was trading around 24,108 level, a discount of nearly 72 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.
The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open on a cautious note on Wednesday, as elevated crude oil prices and persistent geopolitical tensions continue to dent risk appetite, even as global markets rebound.
Asian markets jumped, while the US stock market ended higher overnight, led by a rebound in semiconductor stocks.
On Tuesday, the Indian stock market ended lower, extending losses for the second consecutive session, as escalating Middle East tensions and rising crude oil prices continue to weigh on market sentiment.
The Sensex declined 238.41 points, or 0.31%, to close at 77,470.11, while the Nifty 50 settled 50.80 points, or 0.21%, lower at 24,187.70.
“Domestic equities are expected to remain range-bound amid continued geopolitical tensions, high crude oil prices, weak rupee, persistent FII selling and mixed global cues. While the ongoing Q1 results season is expected to drive stock-specific action, investor sentiment will continue to be influenced by developments in West Asia and the trajectory of oil prices,” 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, following an overnight rebound on Wall Street. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 1.2%. Japan’s Nikkei 225 gained 1.53%, while the Topix rose 1.19%. South Korea’s Kospi jumped 5.37% and while the Kosdaq rallied 3.17%. Hong Kong’s Hang Seng index futures indicated a lower opening.
Gift Nifty Today
Gift Nifty was trading around 24,108 level, a discount of nearly 72 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.
Wall Street
US stock market ended higher on Tuesday, with Nasdaq leading the gains, lifted by a rally in semiconductor shares.
The Dow Jones Industrial Average gained 385.38 points, or 0.74%, to 52,224.64, while the S&P 500 rallied 65.92 points, or 0.89%, to 7,509.20. The Nasdaq Composite closed 329.13 points, or 1.29%, higher at 25,837.21.
Nvidia stock price gained 1.97%, AMD shares jumped 8.11%, Intel shares rallied 8.64%, Micron Technology share price surged 12.17%, Broadcom advanced 2.21%, Microsoft shares fell 1.13%, Tesla stock price added 2.53% and SpaceX shares rallied 3.08%.
US-Iran War
The US military said it has completed its 11th consecutive day of strikes on Iran, targeting Iranian military operations centers, maritime capabilities, aircraft hangars, drone storage facilities, and military logistics infrastructure. Earlier, US President Donald Trump said the US would soon target the area near Pickaxe Mountain.
Trump Tariffs
US President Donald Trump announced steep tariffs on imported generic medicines from August 2028. Trump said beginning August 1, the US will continue to have a 0% tariff on all generic drugs brought into the country for two years, after which it will be raised to 100% for one year, and 200% thereafter.
Japan Trade Deficit
Japan’s trade deficit widened in June amid a weak yen. Total exports by value jumped 19.3% YoY in June. Imports surged 25.4% in June from a year earlier. As a result, Japan ran a trade deficit of 406.9 billion yen ($2.49 billion) in June, compared with the forecast of a deficit of 120 billion yen.
Japanese Bond Yields
Japanese government bond (JGB) yields rose as inflation concerns mounted ahead of a sale of the nation’s longest-dated debt, Reuters reported. The benchmark 10-year JGB yield rose 2.5 bps to 2.745%. The five-year yield rose 2 bps to 1.960% and the two-year yield held steady at 1.435%. The yield on the 40-year bond was unchanged at 3.89%.
Crude Oil Prices
Crude oil prices rose on fears of further supply disruptions after US intensified its strikes against Iranian military targets. Brent crude futures rallied 1.22% to $92.12 a barrel, while US West Texas Intermediate crude gained 1.09% to $85.26 a barrel.
Gold Rate Today
Gold prices extended gains after rallying almost 2% in the previous session. Spot gold price rose 0.1% to $4,080.79 an ounce, while silver price was flat at $58.83 an ounce.
Dollar
The dollar held near a one-week high. The US dollar index, which measures the greenback’s strength against six currencies, was at 101.20. Against the yen, the dollar fell 0.1% to 163.06 yen. The euro was last at $1.1401, and Sterling fell to $1.3385.
(With inputs from Agencies)
About the Author
Ankit Gohel is the Deputy Chief Content Producer at Livemint, specialising in financial markets, macroeconomics, and regulatory developments. With a strong focus on equity markets, primary issuances, and policy-driven market movements, he brings clarity to complex financial developments for investors and market participants. <br><br> With nine years of experience in business and financial journalism, Ankit’s approach is rooted in the belief that market reporting should go beyond headlines — connecting data, policy, and ground realities to deliver actionable insights. His work consistently bridges the gap between institutional analysis and investor understanding. <br><br> Ankit has spent three years at Livemint, where he currently helps drive market coverage, editorial strategy, and high-impact financial stories. Prior to this, he worked with leading business news networks such as CNBC-TV18, ET Now, TickerPlant News Service where he built deep expertise in stock market analysis, macroeconomic trends, primary markets, and coverage of key regulators including the RBI and SEBI. <br><br> Over the years, he has covered market cycles across bull and bear phases, IPO booms, liquidity shocks, and major policy shifts that reshaped investor sentiment. He has interviewed fund managers, corporate leaders, and policymakers, translating their perspectives into sharp, data-backed narratives. Ankit combines speed with accuracy — ensuring timely, credible, and insight-driven financial journalism that empowers both retail and institutional audiences.
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