Sensex and Nifty 50 may open flat on Friday as investors react to mixed overnight global signals. While most Asian markets traded higher, US stock futures declined due to rising concerns over the escalating Israel-Iran conflict. The US stock market remained closed. 

However, on Thursday, the Indian stock market posted modest losses, with the Nifty 50 slipping below the 24,800 mark.

Domestic Market Recap

On Thursday, Indian indices closed in the red:

• Sensex slumped by 82.79 points (-0.1%) to close at 81,361.87
• Nifty 50 moved down by 18.80 points (-0.08%) to settle at 24,793.25

Gift Nifty

Gift Nifty was trading near 24,793, around 10 points lower than the previous Nifty futures close, hinting at a lacklustre start for Indian markets.

Wall Street Performance

The US stock market remained closed on Thursday in observance of the Juneteenth holiday. However, ahead of Friday’s session, US stock futures traded lower. Futures on the Dow Jones Industrial Average dropped 154 points, or 0.3%, while Nasdaq 100 and S&P 500 futures slipped 0.2% each.

Crude Oil Prices

• Brent crude slumped by 1.89% to $77.36/barrel
• US West Texas Intermediate (WTI) crude: 1.14% to $76/barrel

Gold Prices

• Spot gold was trading flat at $3,367.60/oz 
• US gold futures were stable at $3,384.20

Overnight Major Global Events Driving Sentiment

1. People’s Bank of China: The People’s Bank of China kept its key interest rates steady on Friday, holding the 1-year loan prime rate at 3.0% and the 5-year LPR at 3.5%. This decision comes after the central bank lowered both rates last month for the first time since October.
2. Japan Inflation: Japan’s core inflation accelerated to 3.7% in May, up from a 3.5% year-on-year rise in April. The data excludes volatile fresh food prices, and signals continued price pressure in the economy.
3. Israel-Iran War: The White House said President Donald Trump will decide within the next two weeks whether the US will intervene in the ongoing Israel-Iran conflict. Meanwhile, the war escalated as Israel struck Iran’s nuclear facilities, and Iran retaliated with missile and drone attacks on Israeli targets, including an overnight strike on a hospital.

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