The Indian stock market benchmark indices, BSE Sensex and Nifty 50, are likely to open on a strong note on Thursday, backed by positive overnight global market cues and easing geopolitical concerns.

Asian markets traded higher, while the US stock market rallied overnight, with all three major Wall Street indices gaining more than 1% each amid rising hopes that the US–Iran conflict could end soon.

Moreover, on Wednesday, the Indian stock market ended marginally higher, supported by gains in select heavyweight stocks.

Domestic Market Recap

On Wednesday, Indian indices green:

• Sensex gained by 117.54 points (0.16%) to close at 75,318.39
• Nifty 50 moved up by 41.00 points (0.17%) to settle at 23,659.00

Gift Nifty

Gift Nifty was trading near 23,810, around 142 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 Wednesday, rebounding from a three-day selloff as a rally in chip stocks lifted investor sentiment.

• The Dow Jones Industrial Average soared 645.47 points (1.31%) to close at 50,009.35.
• S&P 500 was up by 79.36 points (1.08%), ending at 7,432.97.
• The Nasdaq Composite was higher by 399.65 points (1.55%), finishing at 26,270.36.

Crude Oil Prices

• Brent crude gained by 0.45% to $105.49/barrel
• US West Texas Intermediate (WTI) crude was trading at $99/barrel

Overnight Major Global Events Driving Sentiment

1. US–Iran War: US President Donald Trump said negotiations with Iran had entered the final stage, but warned that Washington could launch further attacks if Tehran failed to agree to a deal. He added that the US could wait a few more days to “get the right answers.” Iran, meanwhile, cautioned against any renewed military action.
2. US Fed Meeting Minutes: The minutes of the April meeting of the Federal Reserve showed that most policymakers believed “some policy firming would likely become appropriate” if inflation remained persistently above the central bank’s 2% target.

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