From Gift Nifty, US-Iran war, oil prices to Kospi’s crash: 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 steady note on Thursday, following mixed cues from global markets, as investors remain cautious over the rising crude oil prices due to the ongoing US-Iran war in the Middle East.

Asian markets traded sharply lower, while the US stock market ended higher overnight, amid concerns over the ongoing West Asia war.

On Wednesday, the Indian stock market ended with modest gains, supported by upbeat global investor sentiment.

The Sensex rose 130.49 points, or 0.17%, to close at 77,185.43, while the Nifty 50 settled 26.45 points, or 0.11%, higher at 24,078.50.

“The near-term outlook for Indian equities remains mixed. Elevated geopolitical tensions in West Asia, Brent crude oil prices above $85 per barrel and the rupee weakening to around one-month low, are expected to keep volatility elevated. However, the ongoing Q1 results season is expected to provide support to the market through 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 lower on Thursday amid concerns about overvaluations of technology shares and ongoing US-Iran war in the Middle East. Japan’s Nikkei 225 declined 3.03%, while the Topix fell 1.17%. South Korea’s Kospi crashed 6.17%, and the Kosdaq Index slumped 4.34%. Hong Kong’s Hang Seng index futures indicated a higher opening.

Gift Nifty Today

Gift Nifty was trading around 24,106 level, a premium of nearly 39 points from the Nifty futures’ previous close, indicating a mildly positive start for the Indian stock market indices.

Wall Street

US stock market ended higher on Wednesday as softening inflation data lifted investor sentiment.

The Dow Jones Industrial Average gained 150.91 points, or 0.29%, to 52,659.18, while the S&P 500 rose 28.83 points, or 0.38%, to 7,572.42. The Nasdaq Composite closed 162.22 points, or 0.62%, higher at 26,269.23.

Nvidia stock price rose 0.33%, AMD shares declined 3.46%, Intel shares slipped 4.43%, Micron Technology shares plunged 8.02%, Microsoft shares gained 2.78%, Amazon share price gained 3.02%, Apple stock price rallied 4.01%, Meta shares surged 3.07%, PayPal shares jumped 16.87%, while Tesla shares fell 0.43%, and SpaceX share price dropped 0.60%.

US-Iran War

The US launched two new wave of strikes, targeting Iranian military capabilities used to threaten vessels freely transiting through the Strait of Hormuz. Meanwhile, Iran’s Revolutionary Guards said the Strait of Hormuz would remain closed until the US ends its “acts of aggression” while warning that other regional oil export routes could also become targets.

US Producer Prices

US producer prices unexpectedly fell in June, posting their biggest decline in 14 months. The Producer Price Index for final demand dropped 0.3% last month, the biggest decline since April 2025, after a downwardly revised 0.6% increase in May. Economists polled by Reuters had forecast the PPI unchanged after a previously reported 1.1% gain in May.

Bank of Korea Policy

South Korea’s central bank raised its benchmark interest rate for the first time in three and a half years to 2.75%, Reuters reported. The seven-member monetary policy board at the Bank of Korea voted to raise the seven-day repurchase rate by 25 basis points.

Crude Oil Prices

Crude oil prices rose for a fourth straight day after a new wave of US strikes on Iranian military installations fuelled fears of supply disruptions in the Strait of Hormuz. Brent crude futures gained 0.4% to $85.28 a barrel, while US West Texas Intermediate futures rose 0.5% to $80.02 a barrel.

Gold Rate Today

Gold prices held steady as recent US data showed inflationary pressures easing. Spot gold price was little changed at $4,056.59 per ounce, while US gold futures for August delivery rose 0.3% to $4,062.50. Spot silver price fell 0.3% to $57.61 per ounce.

(With inputs from Agencies)