The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open lower on Thursday, 13 August, amid weak overnight global cues.

Asian markets opened mixed on Wednesday, while US stock futures declined for a second consecutive session.

On Wednesday, the Indian stock market extended its losing streak to a second straight session. The Sensex and Nifty 50 witnessed sharp intraday swings, falling nearly 1% at one point before recovering most of their losses by the close.

Domestic Market Recap

On Wednesday, Indian indices ended in the red:

• Sensex slumped by 188 points (0.24%) to close at 77,966.35.
• Nifty 50 moved down by 36 points (0.15%) to settle at 24,435.95.

Gift Nifty

Gift Nifty was trading near 24,423, around 50 points lower than the previous Nifty futures close, hinting at a negative start for Indian markets.

Overnight Wall Street Performance

Wall Street’s benchmark indices closed mixed on Wednesday, August 12, as investors remained cautious despite July inflation data largely matching expectations.

• The Dow Jones Industrial Average slumped by 21.58 points (0.04%) to close at 53,770.27.
• S&P 500 was up by 20.30 points (0.26%), ending at 7.748.50.
• The Nasdaq Composite was higher by 143.04 points (0.54%), finishing at 26,588.49.

Crude Oil Prices

• Brent crude slumped by 1.5% to $87.69/barrel
• US West Texas Intermediate (WTI) crude was trading 1.6% lower at $81.97/barrel

Overnight Major Global Events Driving Sentiment

1. US-Iran War: There are few signs of progress toward reopening the Strait of Hormuz, with US President Donald Trump claiming that Washington has “total control” over the strategically important waterway. US-Iran negotiations appear to have stalled as both sides maintain their firm positions. Washington continues to blockade Iranian ports to increase economic pressure on Tehran, while Pakistan, which has been mediating between the two sides, said the wider peace process had reached a standstill.

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