The Indian stock market benchmark indices, BSE Sensex and Nifty 50, are set to open higher on Thursday, tracking overnight gains on Wall Street amid hopes of de-escalation in the US–Iran war.

Asian markets traded higher, while the US stock market closed on a mixed note overnight, with the Nasdaq Composite extending its winning streak to 11 sessions, the longest since November 2021.

Moreover, on Wednesday, the Indian stock market witnessed fresh buying momentum, with both benchmark indices rising by over 1% each.

Domestic Market Recap

On Wednesday, Indian indices closed green:

• Sensex soared by 1,263.67 points (1.64%) to close at 78,111.24
• Nifty 50 moved up by 388.65 points (1.63%) to settle at 24,231.30

Gift Nifty

Gift Nifty was trading near 24,314, around 77 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 mostly higher on Wednesday, with the S&P 500 and Nasdaq Composite hitting record closing highs, supported by strong corporate earnings and optimism over progress in US–Iran peace talks.

• The Dow Jones Industrial Average slipped by 72.27 points (0.15%) to close at 48,463.72.
• S&P 500 up by 55.57 points (0.80%), ending at 7,022.95.
• The Nasdaq Composite was higher by 376.93 points (1.60%), finishing at 24,016.02.

Crude Oil Prices

• Brent crude slumped by 0.50% to $94.49/barrel
• US West Texas Intermediate (WTI) crude was trading 0.80% lower at $90.59/barrel

Overnight Major Global Events Driving Sentiment

1. US–Iran War: Iranian official Mohsen Rezaei warned that Iran would capture American soldiers as hostages and target US naval vessels in the Strait of Hormuz if US forces invade. Meanwhile, US President Donald Trump said that the war in Iran was “very close to over.”
2. India Trade Deficit: India’s Trade Deficit narrowed to a nine-month low of $20.67 billion in March due to lower imports. Exports dropped 7.44% to $38.92 billion, while imports declined 6.51% to $59.59 billion. For FY 2025–26, exports rose 0.93% to a record $441.78 billion, whereas imports increased 7.45% to $775 billion, pushing the trade deficit to $333.2 billion.
3. Unemployment Rate: India’s Unemployment Rate for individuals aged 15 and above rose to 5.1% in March 2026 from 4.9% in February. Urban unemployment increased to 6.8% from 6.6%, while rural unemployment edged up slightly to 4.3% from 4.2%.
4. Japanese Yield Curve: Japan’s yield curve steepened as expectations of an imminent interest rate hike eased. The yield on the two-year Japanese Government Bond fell 0.5 basis point to 1.365%, while the benchmark 10-year yield rose 1 basis point to 2.415%.

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