The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open on a weak note on Wednesday, tracking overnight global market softness.

Asian markets traded lower, and US markets also declined overnight, with the S&P 500 extending its losses for a fourth straight session—its longest losing streak in three months.

However, on Tuesday, Indian equities closed lower as the benchmark indices ended their six-day winning streak.

Domestic Market Recap

On Tuesday, Indian indices closed in the red:

• Sensex slumped by 277.93 points (0.33%) to close at 84,673.02
• Nifty 50 moved down by 103.40 points (0.40%) to settle at 25,910.05

Gift Nifty

Gift Nifty was trading near 25,945, around 4 points lower than the previous Nifty futures close, hinting at a negative start for Indian markets.

Overnight Wall Street Performance

The US stocks closed lower on Tuesday as technology shares came under heavy selling pressure, extending the S&P 500’s losing streak to a fourth consecutive session.

• The Dow Jones Industrial Average slumped by 498.50 points (1.07%) to close at 46,091.74.
• S&P 500 slipped by 55.09 points (0.83%), ending at 6,617.32.
• The Nasdaq Composite was lower by 275.23 points (1.21%), finishing at 22,432.85.

Gold Prices 

Gold prices held steady as investors waited for the Federal Reserve’s latest policy meeting minutes and the upcoming US jobs data.

Crude Oil Prices

• Brent crude slumped 0.54% to $64.54/barrel
• US West Texas Intermediate (WTI) crude was trading 0.54% lower at $60.41/barrel

Overnight Major Global Events Driving Sentiment

1. India–US Trade Deal: Union Commerce Minister Piyush Goyal said the India–US partnership remains strong and continues to grow across multiple sectors, adding that there is no reason to worry about the direction of bilateral ties. He noted that negotiations on the proposed India–US trade agreement are progressing and reiterated that India will sign the deal only if it is fair, balanced, and aligned with national interests.
2. Adani Group Stocks Block Deal: NSE block deal data showed that GQG Partners, led by Rajiv Jain, increased its holdings in five Adani Group companies: Adani Enterprises, Adani Ports and Special Economic Zone (APSEZ), Adani Power, Adani Green Energy, and Adani Energy Solutions.

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