India’s benchmark indices, Sensex and Nifty 50, are likely to open higher on Tuesday, building on the previous session’s gains, as overnight global markets rally despite cautious sentiment surrounding the ongoing US–Iran war.

Asian markets moved higher, while the US stock market rallied overnight, driven by strong gains in technology and AI-related stocks.

However, on Monday, the Indian stock market closed with sharp gains, supported by late buying in financial, auto, and FMCG stocks, even as geopolitical risks remained elevated.

Domestic Market Recap

On Monday, Indian indices closed green:

• Sensex soared by 938.93 points (1.26%) to close at 75,502.85
• Nifty 50 moved up by 257.70 points (1.11%) to settle at 23,408.80

Gift Nifty

Gift Nifty was trading near 23,504, around 75 points higher than the previous Nifty futures close, hinting at a positive start for Indian markets.

Overnight Wall Street Performance

The US stock market surged on Monday, driven by strong gains in AI-related stocks.

• The Dow Jones Industrial Average soared by 387.94 points (0.83%) to close at 46,946.41.
• S&P 500 up by 67.19 points (1.01%), ending at 6,699.38.
• The Nasdaq Composite was higher by 268.82 points (1.22%), finishing at 22,374.18.

Crude Oil Prices

• Brent crude soared by 2.81% to $103.06/barrel
• US West Texas Intermediate (WTI) crude was trading 2.97% higher at $96.28/barrel

Overnight Major Global Events Driving Sentiment

1. US–Iran War: The US–Iran conflict has entered its third week, continuing to unsettle global financial markets. In the latest escalation, multiple drone and rocket attacks targeted the US embassy in Baghdad, with at least five drones reportedly used. A powerful explosion was also heard in the Iraqi capital.
2. India Unemployment Rate: India’s unemployment rate for individuals aged 15 and above eased slightly to 4.9% in February, down from 5.0% in January. Urban unemployment declined to 6.6% from 7.0%, while the rural unemployment rate remained steady at 4.2%.

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