The Indian stock market benchmark indices, BSE Sensex and Nifty 50, are set to open cautiously on Friday as investors track mixed overnight global cues amid surging crude oil prices and escalating US–Iran tensions in the Middle East.

Asian markets traded on a mixed note, while the US stock market closed lower, with Wall Street indices pulling back from record highs.

Moreover, on Thursday, the Indian stock market experienced a sharp selloff for the second straight session.

The Sensex crashed 852.49 points, or 1.09%, to close at 77,664.00, while the Nifty 50 settled 205.05 points, or 0.84%, lower at 24,173.05.

Domestic Market Recap

On Thursday, Indian indices closed red :

• Sensex slumped by 852.49 points (1.09%) to close at 77,664.00
• Nifty 50 moved down by 205.05 points (0.84%) to settle at 24,173.05

Gift Nifty

Gift Nifty was trading near 24,230, around 67 points higher than the previous Nifty futures close, hinting at a positive start for Indian markets.

Overnight Wall Street Performance

The US stock market closed lower on Thursday as escalating tensions in the Middle East weighed on sentiment, while investors also assessed mixed corporate earnings. 

• The Dow Jones Industrial Average slipped by 180.70 points (0.37%) to close at 49,309.33.
• S&P 500 down by 29.60 points (0.41%), ending at 7,108.30.
• The Nasdaq Composite was lower by 219.06 points (0.89%), finishing at 24,438.50.

Crude Oil Prices

• Brent crude gained by 1.17% to $106.30/barrel
• US West Texas Intermediate (WTI) crude was trading 1.12% higher at $96.92/barrel

Overnight Major Global Events Driving Sentiment

1. US–Iran War: US President Donald Trump said that Israel and Lebanon have agreed to extend the ceasefire involving the Hezbollah militant group by three weeks. He also stated that the US maintains full control over its blockade measures against Iran and described them as effective.
2. Japan Inflation: Japan’s Core Consumer Price Index slowed for the second consecutive month in March, remaining below the central bank’s 2% target. Core CPI, which excludes volatile fresh food prices, rose 1.8% year-on-year, matching market expectations—after increasing 1.6% in February.
3. US Jobless Claims: US Initial Jobless Claims edged higher last week, as the number of Americans filing for unemployment benefits rose by 6,000 to a seasonally adjusted 214,000 for the week ended April 18.

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