The Indian stock market benchmark indices, BSE Sensex and Nifty 50, are likely to open on a cautious note on Tuesday, tracking the mixed overnight global market signals despite some easing in geopolitical concerns overnight.

Asian markets traded higher, while US markets ended on a mixed note, supported by gains in semiconductor stocks.

However, on Monday, the Indian stock market closed sharply lower as renewed tensions in the Middle East, a surge in crude oil prices, and concerns over a potential US interest rate hike weighed heavily on investor sentiment.

Domestic Market Recap

On Monday, Indian indices red:

• Sensex slipped by 719.08 points (0.97%) to close at 73,524.26
• Nifty 50 moved down by 243.70 points (1.04%) to settle at 23,123.00

Gift Nifty

Gift Nifty was trading near 23,130, around 44 points lower than the previous Nifty futures close, hinting at a muted start for Indian markets.

Overnight Wall Street Performance

The US stock market ended on a mixed note on Monday, with chipmaker stocks leading gains as investors covered short positions following the recent selloff.

• The Dow Jones Industrial Average slipped by 80.77 points (0.16%) to close at 50,786.01.
• S&P 500 was up by 21.99 points (0.30%), ending at 7,405.73.
• The Nasdaq Composite was higher by 220.23 points (0.86%), finishing at 25,929.66.

Crude Oil Prices

Crude oil prices climbed after Iran and Israel signaled that they could resume attacks against each other, raising concerns about renewed disruptions to energy supplies and escalating tensions in the Middle East.

• Brent crude soared by 0.14% to $94.38/barrel
• US West Texas Intermediate (WTI) crude was trading 0.12% lower at $91.41/barrel

Overnight Major Global Events Driving Sentiment

1. US–Iran War: Iran and Israel said they had suspended attacks against each other following an appeal by US President Donald Trump. However, Tehran warned that it would resume military action if Israel continued targeting Hezbollah in Lebanon. Iranian President Masoud Pezeshkian also stated that Iran remains committed to negotiations despite the recent exchange of missile strikes with Israel.
2. H-1B Visa Fees: A US federal judge struck down the $100,000 fee imposed by President Trump on new H-1B visas for highly skilled foreign workers. The court ruled that the fee amounted to an unlawful tax that Congress had not authorized, effectively invalidating the measure.

Ready to invest like a pro? Tradz by EquityPandit app equips you with 100+ Free tools and knowledge you need to succeed. Download the Tradz by EquityPandit app and gain access to daily stock lists and insightful market analysis and much more!