Sensex and Nifty 50 are likely to open cautiously on Monday as investors track mixed overnight global cues amid rising tensions between Israel and Iran. Meanwhile, Asian markets traded in positive territory, and US stock futures also edged higher after major Wall Street indices posted steep losses last week.

This week, investors will closely monitor key market triggers such as developments in the Israel-Iran conflict, the US Federal Reserve’s policy decision, crude oil price trends, foreign fund flows, and significant domestic and global macroeconomic indicators.

However, on Friday, Indian equity markets declined for the second straight session, pressured by concerns over the escalating Middle East conflict.

Domestic Market Recap

On Friday, Indian indices closed in the red:

• Sensex slumped by 573.38 points (0.70%) to close at 81,118.60
• Nifty 50 moved down by 169.60 points (0.68%) to settle at 24,718.60

Gift Nifty

Gift Nifty was trading near 24,772, around 45 points higher than the previous Nifty futures close, hinting at a positive start for Indian markets.

Wall Street Performance

Tech stocks drove the US stock market lower on Friday. 

• Dow Jones Industrial Average crashed by 769.83 points (-1.79%) points to close at 42,197.79.
• S&P 500 was down by 68.29 points (-.1.13%), ending at 5,976.97.
• The Nasdaq Composite was trading lower by 255.66 points (-1.30%), finishing at 19,406.83.

Crude Oil Prices

• Brent crude gained by 0.24% to $74.41/barrel
• US West Texas Intermediate (WTI) crude: 0.37% to $73.25/barrel

Gold Prices

• Spot gold gained by 0.4% to $3,447.07/oz 
• US gold futures up by 0.4% to $3,467.20

Overnight Major Global Events Driving Sentiment

1. Israel-Iran War: Israel’s military reported detecting a fresh missile barrage from Iran on Monday, as both nations continued exchanging missile attacks over the weekend despite growing international calls to cease hostilities. According to Iranian officials, Israeli strikes targeted oil refineries and killed the intelligence chief of Iran’s Revolutionary Guard along with two other generals. Meanwhile, the Israel Defense Forces said they carried out a large-scale wave of airstrikes across Iran, aiming to dismantle the country’s weapons manufacturing infrastructure.
2. US Consumer Sentiment: US consumer sentiment saw a notable rebound in June, marking its first improvement in six months. The University of Michigan’s Consumer Sentiment Index rose sharply to 60.5, up from May’s final reading of 52.2.

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