The Indian stock market benchmark indices, BSE Sensex and Nifty 50, are set to open lower on Monday as investors weigh mixed overnight global cues, monitor the latest developments in the US-Iran war in the Middle East, and react to rising crude oil prices that continue to pressure sentiment.

Asian markets advanced, while the US stock market closed on a mixed note, although all three Wall Street indices recorded strong gains last week.

The Indian stock market remained closed on Friday, 3 April 2025, due to Good Friday.

On Thursday, the Indian stock market recovered from sharp losses and ended in positive territory for the second straight session, supported by late buying.

Domestic Market Recap

On Thursday, Indian indices closed green:

• Sensex gained by 185.23 points (0.25%) to close at 73,319.55
• Nifty 50 moved up by 33.70 points (0.15%) to settle at 22,713.10

Gift Nifty

Gift Nifty was trading near 22,635, around 132 points lower than the previous Nifty futures close, hinting at a negative start for Indian markets.

Overnight Wall Street Performance

The US stock market closed on a mixed note on Thursday as diplomatic developments in the Middle East helped ease market concerns.

• The Dow Jones Industrial Average slipped by 61.07 points (0.13%) to close at 46,504.67.
• S&P 500 up by 7.37 points (0.11%), ending at 6,582.69.
• The Nasdaq Composite was higher by 38.23 points (0.18%), finishing at 21,879.18.

Crude Oil Prices

• Brent crude gained by 1.6% to $110.74/barrel
• US West Texas Intermediate (WTI) crude was trading 0.6% higher at $112.25/barrel

Overnight Major Global Events Driving Sentiment

1. US–Iran War: US President Donald Trump set what appeared to be a final deadline for Iran to reopen the Strait of Hormuz, warning Tehran of severe consequences in an expletive-filled post on Truth Social. He issued the renewed threat after repeatedly cautioning that the US would target Iran’s key energy and critical infrastructure if it refused to accept a truce deal or reopen the vital passage.
2. US Nonfarm Payrolls: US job growth rebounded more strongly than expected in March, with US Nonfarm Payrolls rising by 178,000 jobs—the biggest increase since December 2024—following a downwardly revised decline of 133,000 in February. Economists surveyed by Reuters had expected a gain of 60,000 jobs after an earlier reported drop of 92,000 in February.
3. Japanese Bond Yields: Benchmark Japanese Government Bond yields climbed to a fresh near three-decade high on Monday, as the 10-year yield rose 2 basis points to 2.400%, its highest level since February 1999, while the five-year yield increased 2 basis points to 1.815%.

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