From Gift Nifty, US-Iran peace deal to Nasdaq rally: 8 key things that changed for Indian stock market overnight

The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open on a cautious note on Tuesday, following a mixed trend in global markets, as investors await key details on the US-Iran peace deal.

Asian markets traded mixed, while the US stock market ended higher overnight, with the Dow Jones posting a record-high close.

On Monday, the Indian stock market ended with strong gains on significant de-escalation in geopolitical tensions following the announcement of the US-Iran peace deal.

The Sensex jumped 736.38 points, or 0.97%, to close at 76,264.33, while the Nifty 50 settled 231.00 points, or 0.98%, higher at 23,853.90.

“While the near-term outlook has improved meaningfully, we continue to advocate a stock-specific approach with disciplined risk management, favouring banking, financials, auto, infrastructure, and select domestic cyclical themes for long positions,” said Ajit Mishra – SVP, Research, Religare Broking.

Here are key global market cues for Sensex today:

Asian Markets

Asian markets traded mixed on Tuesday as investors awaited further details on the US-Iran peace deal. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.2%. Japan’s Nikkei 225 was flat while the Topix fell 0.38%. South Korea’s Kospi gained 0.61%, while Kosdaq declined 1.47%. Hong Kong’s Hang Seng index futures indicated a lower opening.

Gift Nifty Today

Gift Nifty was trading around 23,919 level, a premium of nearly 3 points from the Nifty futures’ previous close, indicating a flat start for the Indian stock market indices.

Wall Street

US stock market ended higher on Monday, with the Dow Jones marking a record-high close after the US-Iran peace deal.

The Dow Jones Industrial Average rallied 468.77 points, or 0.92%, to 51,671.03, while the S&P 500 jumped 122.83 points, or 1.65%, to 7,554.29. The Nasdaq Composite closed 795.10 points, or 3.07%, to 26,683.94, its strongest one-day percentage gain since March 31.

Nvidia stock price gained 3.54%, AMD shares jumped 6.98%, Microsoft shares rose 2.31%, Amazon share price rallied 3.16%, Apple stock price added 1.82%, Alphabet shares rose 2.50%, Meta Platforms share price surged 4.67%, and Tesla stock price gained 1.16%. Fox shares tumbled 16.8% and Roku shares fell 1.9%.

US-Iran Peace Deal

US Vice President JD Vance told Fox News that President Donald Trump may decide to release Washington’s agreement with Tehran before Friday. The agreement was electronically signed by leaders in the US and Iran, and is expected to be signed in person on Friday. Trump said that Iran has agreed to “never have a nuclear weapon” as part of the peace deal.

India Balance of Payments

India recorded a current account surplus of $4.7 billion in April as against a deficit of $4.8 billion in the year-ago month. The imports bill was at $72.5 billion, up from $65.8 billion, while exports stood at $44.6 billion compared to $38.7 billion.

Crude Oil Prices

Crude oil prices rebounded on concerns about the lack of details in a preliminary US-Iran peace agreement. Brent crude futures gained 0.3% to $83.42 a barrel and US West Texas Intermediate rose to $81.12 a barrel, up 0.3%.

Gold Rate Today

Gold prices were largely steady after rising to a more than one-week high in the previous session. Spot gold price rose 0.1% to $4,311.36 per ounce, while US gold futures for August delivery fell 0.4% to $4,332.60. Spot silver price eased 0.4% to $69.74 per ounce.

Dollar

The US dollar held near 10-day lows. The dollar index, which measures the US currency against six other units, was at 99.66, Reuters reported. The euro was at $1.159, and Sterling last bought $1.3413. The Japanese yen fetched 160.24 per US dollar.

(With inputs from Agencies)