The Indian stock market benchmark indices, BSE Sensex and Nifty 50, are set to open lower on Tuesday as weakness in the overnight global markets weighs on sentiment amid escalating US–Iran tensions.

Asian markets traded lower, while the US stock market declined overnight, with the S&P 500 pulling back from record highs.

Moreover, on Monday, the Indian stock market trimmed early gains due to profit booking but still ended in positive territory.

Domestic Market Recap

On Monday, Indian indices closed green:

• Sensex gained by 355.90 points (0.46%) to close at 77,269.40
• Nifty 50 moved up by 121.75 points (0.51%) to settle at 24,119.30

Gift Nifty

Gift Nifty was trading near 24,038, around 168 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 lower on Monday as escalating tensions in the Middle East dampened optimism around strong first-quarter earnings.

• The Dow Jones Industrial Average slipped by 557.37 points (1.13%) to close at 48,941.90.
• S&P 500 down by 29.37 points (0.41%), ending at 7,200.75.
• The Nasdaq Composite was lower by 46.64 points (0.19%), finishing at 25,067.80.

Crude Oil Prices

• Brent crude slipped by 0.60% to $113.76/barrel
• US West Texas Intermediate (WTI) crude was trading 1.5% lower at $104.83/barrel

Overnight Major Global Events Driving Sentiment

1. US–Iran War: The US–Iran conflict escalated in the Middle East after both countries exchanged fire on Monday, drawing in the United Arab Emirates and intensifying calls for further strikes on Iranian targets. The US military said it destroyed six Iranian boats and intercepted cruise missiles and drones as Iran attempted to disrupt efforts to reopen shipping through the Strait of Hormuz.
2. Assembly Election Results: The Bharatiya Janata Party is set to form the government with a strong majority in West Bengal and Assam. In Kerala, the Congress-led United Democratic Front secured a decisive victory. In Tamil Nadu, Tamilaga Vettri Kazhagam won 107 seats, pushing the incumbent Dravida Munnetra Kazhagam, led by Chief Minister M. K. Stalin, to third place.

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