The equity benchmark indices, Sensex and Nifty 50, will likely open higher on Tuesday, tracking an overnight global market rally.

Asian markets traded in the green, while US stocks closed with strong gains overnight, with the Nasdaq hitting a record high as expectations of a Federal Reserve rate cut grew stronger.

Traders priced in an 89.4% chance of a 25-basis-point cut at the Fed’s September meeting and a 10.6% probability of a larger 50-basis-point cut.

However, on Monday, Indian equities ended with modest gains after profit booking pulled them off the day’s highs, as persistent concerns over US tariffs and continued foreign capital outflows weighed on sentiment.

Domestic Market Recap

On Monday, Indian indices closed in the green:

• Sensex gained by 76.54 points (0.09%) to close at 80,787.30
• Nifty 50 moved up by 32.15 points (0.13%) to settle at 24,773.15

Gift Nifty

Gift Nifty was trading near 24,928, around 36 points higher than the previous Nifty futures close, hinting at a positive start for Indian markets.

Wall Street Performance

The US stock market closed higher on Monday, as hopes of a Federal Reserve rate cut pushed the Nasdaq to a record high finish.

• The Dow Jones Industrial Average surged by 114.09 points (0.25%) to close at 45,514.95.
• S&P 500 up by 13.65 points (0.21%), ending at 6,495.15.
• The Nasdaq Composite was trading higher by 98.31 points (0.45%), finishing at 21,798.70.

Crude Oil Prices

Crude oil prices climbed after OPEC raised output but by less than market expectations.

• Brent crude gained by 0.26% to $66.19/barrel
• US West Texas Intermediate (WTI) crude was trading 0.27% higher at $62.43/barrel

Gold Prices

Gold prices held steady above $3,600, staying close to a record high as rising Fed rate cut hopes this month boosted demand.

• Spot gold was trading up by 0.1% at $3,640.41/oz
• US gold futures were trading 0.1% higher at $3,682

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