The Indian stock market benchmark indices, BSE Sensex and Nifty 50, are likely to open higher on Thursday, supported by positive overnight global market cues.

Asian markets advanced, while the US stock market closed mostly higher overnight, driven by a rally in technology stocks.

Moreover, on Wednesday, the Indian stock market posted modest gains, ending its four-session losing streak.

Domestic Market Recap

On Wednesday, Indian indices closed green:

• Sensex gained by 49.78 points (0.07%) to close at 74,608.98
• Nifty 50 moved up by 33.05 points (0.14%) to settle at 23,412.60

Gift Nifty

Gift Nifty was trading near 23,540, around 78 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 mostly higher, with the S&P 500 and Nasdaq Composite advancing on strong gains in Artificial Intelligence-related technology stocks.

• The Dow Jones Industrial Average slipped 67.36 points (0.14%) to close at 49,693.20.
• S&P 500 was up by 43.29 points (0.58%), ending at 7,444.25.
• The Nasdaq Composite was higher by 314.14 points (1.20%), finishing at 26,402.34.

Crude Oil Prices

• Brent crude gained by 0.12% to $105.76/barrel
• US West Texas Intermediate (WTI) crude was trading 0.12% higher at $101.14/barrel

Overnight Major Global Events Driving Sentiment

1. Trump’s China Visit: US President Donald Trump arrived in Beijing on Wednesday for a series of meetings with Chinese President Xi Jinping. Trump was accompanied by several top US business leaders, including Elon Musk and Jensen Huang.
2. US Producer Prices: US producer prices recorded their sharpest increase in four years in April. The Producer Price Index (PPI) for final demand jumped 1.4%, the biggest rise since March 2022, following a revised 0.7% increase in March. Economists surveyed by Reuters had expected a 0.5% rise. On a year-on-year basis, PPI surged 6.0%, marking the largest increase since December 2022.
3. US Treasury Yields: US Treasury Bonds yields climbed, with long-term yields touching their highest levels since mid-2025. The benchmark 10-year Treasury yield rose to 4.473% and briefly touched 4.50%, while the 30-year yield moved above 5%. Meanwhile, the 2-year Treasury yield eased slightly to 3.985% after earlier reaching 4.017%.
4. Japanese Bond Yields: The yield on benchmark Japanese Government Bonds rose for the fourth straight session amid inflation concerns. The 10-year JGB yield climbed 2 basis points to 2.605%, its highest level since May 1997.

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