Sensex and Nifty 50 are likely to open lower on Tuesday as mixed overnight global market cues weigh on sentiment. Asian markets traded higher, with Japan’s Nikkei hitting a record high, while US stocks closed lower overnight.

However, on Monday, the Indian stock market staged a short-covering rally, driven by broad-based buying.

Domestic Market Recap

On Monday, Indian indices closed in the green:

• Sensex gained by 746.29 points (0.93%) to close at 80,604.08
• Nifty 50 moved up by 221.75 points (0.91%) to settle at 24,505.03

Gift Nifty

Gift Nifty was trading near 24,718, around 166 points higher than the previous Nifty futures close, hinting at a positive start for Indian markets.

Wall Street Performance

US stocks closed lower on Monday as investors focused on upcoming US-China trade developments.

• Dow Jones Industrial Average slumped by 200.52 points (0.45%) to close at 43,975.09.
• S&P 500 down by 16 points (0.25%), ending at 6,373.45.
• The Nasdaq Composite was trading lower by 64.62 points (.0.3%), finishing at 21,385.40.

Crude Oil Prices

• Brent crude gained by 0.30% to $66.83/barrel
• US West Texas Intermediate (WTI) crude was trading 0.25% higher at $64.12/barrel

Gold Prices

• Spot gold was trading up by 0.3% at $3,355.59/oz 
• US gold futures gained by 0.1% at $3,406.80

Overnight Major Global Events Driving Sentiment

1. US-China Tariff Truce: The United States and China agreed to extend their tariff truce by another 90 days. US President Donald Trump announced on Truth Social that he had signed an executive order delaying higher tariffs until 12:01 a.m. EST on November 10, while keeping all other terms of the truce unchanged.

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