The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open lower on Friday, tracking mixed overnight signals from global markets.

Asian markets traded mixed, while the US stock market closed higher overnight, with a strong rally in technology stocks driving the Nasdaq up nearly 2%.

However, on Thursday, the Indian stock market ended a volatile trading session in positive territory, extending its winning streak to five consecutive sessions.

Domestic Market Recap

On Thursday, Indian indices ended green:

• Sensex soared by 254.36 points (0.33%) to close at 77,2
• Nifty 50 moved up by 82.30 points (0.34%) to settle at 24,168.00

Gift Nifty

Gift Nifty was trading near 24,001, around 191 points lower than the previous Nifty futures close, hinting at a negative start for Indian markets.

Overnight Wall Street Performance

The US stock indexes closed higher on Thursday, supported by a strong rally in semiconductor stocks, as investors continued to buy into technology shares and remained optimistic about the sector’s growth prospects. Gains in chipmakers helped lift the broader market and drove major Wall Street indices higher.

• The Dow Jones Industrial Average gained by 72.15 points (0.14%) to close at 51,564.70.
• S&P 500 was up by 80.48 points (1.08%), ending at 7.500.58.
• The Nasdaq Composite was higher by 496.28 points (1.91%), finishing at 26,517.93.

Crude Oil Prices

• Brent crude slumped by 0.84% to $79.18/barrel
• US West Texas Intermediate (WTI) crude was trading 0.67% lower at $76.09/barrel

Overnight Major Global Events Driving Sentiment

1. US–Iran Peace Deal: The United States lifted restrictions on Iran and allowed oil tankers to resume passage through the Strait of Hormuz after months of disruptions, as a preliminary ceasefire agreement began taking effect. Iran’s Supreme Leader, Mojtaba Khamenei, said he had approved the Iran–US peace deal to end the Middle East conflict, despite expressing reservations about certain provisions in the memorandum of understanding.
2. US Jobless Claims: The number of Americans filing new unemployment benefit claims declined last week, although claims remained at relatively elevated levels. Initial jobless claims fell by 4,000 to a seasonally adjusted 226,000 for the week ended June 13.
3. Japan Inflation: Japan’s annual core inflation remained below the Bank of Japan’s 2% target for a fourth consecutive month in May. The core Consumer Price Index (CPI), which excludes volatile fresh food prices, rose 1.4% year-on-year, highlighting subdued underlying inflationary pressures in the economy.

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!