The Indian equity benchmark indices, Sensex and Nifty 50, are likely to open flat on Tuesday, tracking mixed overnight global market cues.

Asian markets traded mixed, while the US stock market closed higher overnight, with the Nasdaq posting its strongest one-day gain since 27 May.

However, on Monday, the Indian stock market closed lower as investors remained cautious amid rising global trade and tariff tensions.

Domestic Market Recap

On Monday, Indian indices closed in the red:

• Sensex slumped by 173.77 points (0.21%) to close at 82,327.05
• Nifty 50 moved down by 58 points (0.23%) to settle at 25,227.35

Gift Nifty

Gift Nifty was trading near 25,312, around 3 points higher than the previous Nifty futures close, hinting at a lacklustre start for Indian markets.

Overnight Wall Street Performance

The US stock market closed sharply higher on Monday after President Donald Trump adopted a conciliatory tone on renewed US-China trade tensions, which helped ease investor concerns.

• The Dow Jones Industrial Average zoomed by 587.98 points (1.29%) to close at 46,067.58.
• S&P 500 up by 102.21 points (1.56%), ending at 6,654.72.
• The Nasdaq Composite was trading higher by 490.18 points (2.21%), finishing at 22,694.61.

Crude Oil Prices

• Brent crude gained by 0.43% to $63.59/barrel
• US West Texas Intermediate (WTI) crude was trading 0.49% higher at $59.78/barrel

Gold Prices 

• Spot gold was trading 0.4% higher at $4,124.79 per ounce.
• The US gold futures gained by 0.3% at $4,143.10.

Overnight Major Global Events Driving Sentiment

1. Gaza Peace Deal: US President Donald Trump joined the leaders of Qatar, Egypt, and Turkey to sign the “historic Gaza Peace Deal.” Under the ceasefire agreement, Hamas released the last remaining Israeli hostages, while Israel repatriated Palestinian detainees.
2. India CPI Inflation: India’s retail inflation fell to a more than 8-year low of 1.54% in September, dropping below the Reserve Bank of India’s comfort zone. The CPI-based inflation had stood at 2.07% in August and 5.49% in September 2024, marking the lowest level since June 2017 (1.46%).
3. US-China Trade War: The US and China will start imposing port fees on ocean shipping companies transporting goods ranging from holiday merchandise to crude oil, according to Reuters. China confirmed it had begun collecting these special fees on US-owned, operated, built, or flagged vessels, while exempting Chinese-built ships from the levies.

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