The benchmark Indian stock market indices, Sensex and Nifty 50, are likely to open flat on Tuesday, supported by positive cues from overnight global markets.

Asian markets traded higher, and the US stock market rallied overnight, lifted by strong gains in technology stocks.

However, on Monday, the Indian stock market closed lower as investors booked profits across sectors, pulling the Nifty 50 below the 26,000 mark.

Domestic Market Recap

On Monday, Indian indices closed in the red:

• Sensex slumped by 331.21 points (0.39%) to close at 84,900.71
• Nifty 50 moved down by 108.65 points (0.42%) to settle at 25,959.50

Gift Nifty

Gift Nifty was trading near 25,984, around 12 points lower than the previous Nifty futures close, hinting at a negative start for Indian markets.

Overnight Wall Street Performance

The US stock market closed higher on Monday as rising expectations of a Federal Reserve rate cut in December boosted investor sentiment.

• The Dow Jones Industrial Average gained 202.86 points (0.44%) to close at 46,448.27.
• S&P 500 up by 102.13 points (1.55%), ending at 6,705.12.
• The Nasdaq Composite was higher by 598.92 points (2.69%), finishing at 22,872.01.

Gold Prices 

The US stock market closed higher on Monday as rising expectations of a Federal Reserve rate cut in December boosted investor sentiment.

• Spot gold was trading 0.2% lower at $4,132.20 per ounce.
• The US gold futures gained by 0.7% at $4,049.50.

Crude Oil Prices

• Brent crude slumped by 0.17% to $63.26/barrel
• US West Texas Intermediate (WTI) crude was trading 0.12% lower at $58.77/barrel

Overnight Major Global Events Driving Sentiment

1. US Tech Stocks Rally: Major US technology stocks surged on Monday. Nvidia shares climbed 2.05%, AMD jumped 5.53%, Amazon gained 2.53%, Apple advanced 1.63%, and Alphabet rose 6.28%. Meta Platforms rallied 3.16%, while Tesla soared 6.82%.
2. Trump–Xi Talks: President Donald Trump described US–China relations as “extremely strong” after his call with Chinese President Xi Jinping. Trump said he accepted Xi’s invitation to visit Beijing in April and invited Xi for a state visit to the US later next year.
3. US Federal Reserve: Federal Reserve Governor Christopher Waller said he supports an interest-rate cut in December. He added that beginning in January, the Fed can likely shift to a meeting-by-meeting strategy once more economic data becomes available.

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