The Indian stock market benchmark indices, BSE Sensex and Nifty 50, are set to open higher on Wednesday, tracking an overnight global market rally after the US and Iran agreed to a two-week ceasefire.

Asian markets surged, while US stock futures moved higher after US President Donald Trump announced a halt to military strikes on Iran in exchange for Tehran reopening the Strait of Hormuz.

Moreover, on Tuesday, the Indian stock market posted solid gains, extending its rally for the fourth straight session.

Domestic Market Recap

On Tuesday, Indian indices closed green:

• Sensex gained by 509.73 points (0.69%) to close at 74,616.58
• Nifty 50 moved up by 155.40 points (0.68%) to settle at 23,123.65

Gift Nifty

Gift Nifty was trading near 23,830, around 679 points lower than the previous Nifty futures close, hinting at a negative start for Indian markets.

Overnight Wall Street Performance

The US stock futures surged after the US and Iran announced a ceasefire agreement.

• The Dow Jones Industrial Average slumped by 85.42 points (0.18%) to close at 46,584.46.
• S&P 500 up by 5.02 points (0.07%), ending at 6,616.85.
• The Nasdaq Composite was higher by 21.51 points (0.09%), finishing at 22,017.85.

Crude Oil Prices

• Brent crude crashed by 13.86% to $94.13/barrel
• US West Texas Intermediate (WTI) crude was trading 15.02 lower at $95.99/barrel

Overnight Major Global Events Driving Sentiment

1. US–Iran Ceasefire: The US and Iran agreed to a two-week ceasefire aimed at halting American and Israeli military operations in exchange for Tehran reopening the Strait of Hormuz. Pakistan brokered the deal, stating that the truce also extends to the ongoing conflict between Israel and Hezbollah in Lebanon.

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