The domestic equity benchmarks Sensex and Nifty 50 will likely open flat on Tuesday, tracking a muted overnight global trend as investors await the outcome of US President Donald Trump’s talks with European leaders on ending the Russia-Ukraine war.

Asian markets traded mixed, while Wall Street closed nearly unchanged overnight, with all three US benchmark indices ending flat.

However, on Monday, the Indian stock market rallied sharply, lifted by Prime Minister Narendra Modi’s GST reform announcement, S&P Global’s upgrade of India’s credit rating, and renewed hopes of progress in resolving the Russia-Ukraine conflict.

Domestic Market Recap

On Monday, Indian indices closed in the green:

• Sensex surged by 676.09 points (0.84%) to close at 81,273.75
• Nifty 50 moved up by 245.65 points (1%) to settle at 24,876.95

Gift Nifty

Gift Nifty was trading near 24,988, around 21 points higher than the previous Nifty futures close, hinting at a positive start for Indian markets.

Wall Street Performance

US stocks closed nearly flat on Monday after a volatile session, as investors awaited earnings reports from major retailers.

• The Dow Jones Industrial Average slumped by 34.30 points (0.08%) to close at 44,911.82.
• S&P 500 down by 0.65 points (0.01%), ending at 6,449.15.
• The Nasdaq Composite was trading higher by 6.80 points (0.03%), finishing at 21,629.77.

Crude Oil Prices

• Brent crude slumped by 0.18% to $66.48/barrel
• US West Texas Intermediate (WTI) crude was trading 0.19% lower at $63.30/barrel

Gold Prices1

• Spot gold was trading up by 0.1% at $3,334.91/oz 
• US gold futures were trading 0.1% higher at $3,379.40

Overnight Major Global Events Driving Sentiment

1. India Unemployment Rate: India’s unemployment rate for people aged 15 and above eased to 5.2% in July from 5.6% in June, the Periodic Labour Force Survey (PLFS) showed. Rural unemployment drove the improvement, falling to 4.4% from 4.9%, while urban unemployment edged up to 7.2% from 7.1%.
2. Trump-Zelensky Meeting: US President Donald Trump met Ukrainian President Volodymyr Zelenskyy at the White House on Monday, along with other top European leaders, to discuss ways to end the Russia-Ukraine war. Trump said he has begun arranging a direct meeting between Russian President Vladimir Putin and Zelenskyy and assured Zelenskyy that the US would help guarantee Ukraine’s security in any peace deal.

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