Indian stock market: 10 things that changed overnight - Gift Nifty, Trump-Xi talks, Nasdaq’s fall to Alphabet earnings

The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open flat on Thursday, following weak global market cues.

Asian markets traded mixed, while the US stock market ended mostly lower overnight as selling continued in technology stocks.

On Wednesday, the Indian stock market ended with minor gains, despite heavy selling in IT stocks.

The Sensex gained 78.56 points, or 0.09%, to close at 83,817.69, while the Nifty 50 settled 48.45 points, or 0.19%, higher at 25,776.00.

“We expect Indian markets to remain firm with positive bias, with sector/stock specific action, driven by recent trade deals (US and EU), Union Budget announcements and the ongoing Q3 earnings season,” 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 mostly lower on Thursday, following overnight losses on Wall Street amid tech stocks’ sell-off. Japan’s Nikkei 225 rose 0.15%, while Topix gained 0.47% and hit a record high. South Korea’s Kospi declined 2.71% and Kosdaq fell 1.79%. Hong Kong’s Hang Seng index futures indicated a lower opening.

Gift Nifty Today

Gift Nifty was trading around 25,861 level, a premium of nearly 12 points from the Nifty futures’ previous close, indicating a flat start for the Indian stock market indices.

Wall Street

US stock market ended lower on Wednesday, weighed down by selling in technology stocks, on worries over pricey valuations and the AI boom.

The Dow Jones Industrial Average gained 0.53% to 49,501.30, while the the S&P 500 declined 0.51% to end the session at 6,882.72. The Nasdaq closed 1.51% lower at 22,904.58.

Nvidia stock price fell 3.41%, Advanced Micro Devices (AMD) shares plunged 17.31%, Alphabet shares dropped 2.16%, Apple share price gained 2.60%, Tesla stock price declined 3.78%, and Palantir shares slumped almost 12%. Super Micro Computer stock price jumped 13.8% and Eli Lilly shares rallied about 10%.

Trump-Xi Talks

US President Donald Trump and President Xi Jinping of China discussed trade and geopolitical developments, including Taiwan, during a call on Wednesday ahead of a planned face-to-face meeting in April. Trump cast the call as “excellent” and “long and thorough.”

Russia-Ukraine Peace Talks

Top Ukrainian negotiator Rustem Umerov said on Wednesday that the first day of meetings in Abu Dhabi between Ukrainian, Russian and U.S. teams was “substantive and productive,” Reuters reported. “The work was substantive and productive, focusing on concrete steps and practical solutions,” Umerov said.

US Private Payrolls, Services PMI

US private payrolls increased less than expected in January. Private employment rose by 22,000 jobs last month after a downwardly revised 37,000 increase in December. Economists polled by Reuters had forecast private employment advancing by 48,000 jobs after a previously reported 41,000 gain in December.

The US services sector held steady in January. The ISM said its non-manufacturing purchasing managers index was unchanged at 53.8 last month. Economists polled by Reuters had forecast the services PMI easing to 53.5.

Alphabet Q4 Earnings

Google parent Alphabet reported a consolidated revenue of $113.83 billion for the fourth quarter ended December 2025, an 18% increase from the same period in 2024, and beating analyst estimates of $111.43 billion. The company’s net income rose by 30% to $34.5 billion, with earnings per share (EPS) increasing by 31% to $2.82, beating estimates of $2.63.

Alphabet plans to target capital expenditure of $175 billion to $185 billion this year, up from $91.45 billion in 2025, and analysts’ estimates of $115.26 billion.

Dollar

The dollar steadied ahead of interest rate decisions from the European Central Bank and the Bank of England. The US dollar index, which measures the greenback’s strength against a basket of six currencies, was up 0.2% at 96.671. The euro was steady at $1.1800, the British pound was flat at $1.3650 and against the yen, the US dollar was fetching 156.92 yen.

Gold Prices

Gold prices rose above $5,000 an ounce, having clawed back some losses over the previous two sessions. Spot gold price rose 1.2% to $5,022.61 an ounce, while silver price rallied 2.3% to $90.20.

Crude Oil Prices

Crude oil prices fell after Iran confirmed it would hold negotiations with the US. Brent crude oil price declined 1.22% to $68.61 a barrel, while the US West Texas Intermediate (WTI) crude futures dropped 1.15% to $64.39.

(With inputs from Reuters)