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

Asian equities advanced, while the US stock market rallied overnight, driven by strong gains in technology stocks.

Moreover, on Monday, Indian equities closed higher after India and the United States announced a preliminary framework for a trade agreement.

Domestic Market Recap

On Friday, Indian indices closed in the green:

• Sensex gained by 485.35 points (0.58%) to close at 84,065.75
• Nifty 50 moved up by 173.60 points (0.68%) to settle at 25,867.30

Gift Nifty

Gift Nifty was trading near 25,987, around 72 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 higher on Monday, following a positive movement in technology stocks.

• The Dow Jones Industrial Average gained by 20.20 points (0.04%) to close at 50,135.87.
• S&P 500 scaled up by 32.52 points (0.47%), ending at 6,964.82.
• The Nasdaq Composite soared up by 207.46 points (0.90%), finishing at 23,238.67.

Gold Prices

• Spot gold was trading 1% lower at $5,016.56 per ounce.
• The US gold futures slipped by 0.8% at $5,041.60.

Crude Oil Prices

• Brent crude dropped by 0.54% to $68.64/barrel
• US West Texas Intermediate (WTI) crude was trading 0.65% lower at $63.94/barrel

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