The Indian stock market benchmark indices, BSE Sensex and Nifty 50, are likely to open lower on Wednesday as mixed overnight global market signals and renewed escalation in the US–Iran conflict reduced hopes of a ceasefire agreement in the Middle East.

Asian markets traded on a mixed note, with Japan’s Nikkei 225 touching a record high, while the US stock market closed higher overnight.

However, on Tuesday, the Indian stock market snapped its four-session losing streak and ended higher, supported by gains in IT heavyweight stocks and value buying across select sectors.

Domestic Market Recap

On Tuesday, Indian indices green:

• Sensex gained by 382.50 points (0.52%) to close at 74,649.84
• Nifty 50 moved up by 100.95 points (0.43%) to settle at 23,483.55

Gift Nifty

Gift Nifty was trading near 23,469, around 134 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 marginally higher on Tuesday as investors navigated uncertainty surrounding the US–Iran negotiations and monitored rising geopolitical tensions.

• The Dow Jones Industrial Average gained by 228.91 points (0.45%) to close at 51,307.79.
• S&P 500 was up by 9.94 points (0.13%), ending at 7,609.90.
• The Nasdaq Composite was higher by 7.09 points (0.03%), finishing at 27,093.90.

Crude Oil Prices

• Brent crude gained by 1.13% to $97.08/barrel
• US West Texas Intermediate (WTI) crude was trading 1.24% lower at $94.92/barrel

Overnight Major Global Events Driving Sentiment

1. US–Iran War: The US military said it had successfully repelled a series of Iranian missile and drone attacks in the Gulf and carried out self-defence strikes on Iran’s Qeshm Island, according to AFP. The US Central Command also rejected claims by Iran’s Revolutionary Guards that they had targeted the headquarters of the US Navy’s Fifth Fleet in Bahrain and another air base in the region.
2. US Job Openings: US job openings recorded their biggest increase in five years in April. The Job Openings and Labor Turnover Survey (JOLTS) showed that available positions jumped by 731,000 to 7.618 million at the end of April, marking the highest level since May 2024. 

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