The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Thursday, supported by mixed overnight global market cues and a decline in crude oil prices.

Asian markets traded mostly higher, while the US stock market closed on a mixed note overnight. Meanwhile, US stock futures advanced after strong earnings from Micron Technology boosted sentiment in the technology sector.

However, on Wednesday, the Indian stock market attracted robust buying interest, with benchmark indices posting strong gains across sectors.

Domestic Market Recap

On Wednesday, Indian indices ended green:

• Sensex soared by 790.54 points (1.04%) to close at 76,991.22
• Nifty 50 moved up by 197.55 points (0.83%) to settle at 24,021.65

Gift Nifty

Gift Nifty was trading near 24,114, around 62 points higher than the previous Nifty futures close, hinting at a positive start for Indian markets.

Overnight Wall Street Performance

US stock market ended mixed on Wednesday, with the Nasdaq and the S&P 500 closing lower as investors booked profits in megacap technology stocks, while the Dow Jones managed to outperform amid gains in select non-technology sectors.

• The Dow Jones Industrial Average gained by 182.06 points (0.35%) to close at 51,848.90.
• S&P 500 was down by 7.24 points (0.10%), ending at 7.358.22.
• The Nasdaq Composite was lower by 110.40 points (0.43%), finishing at 25,476.64.

Crude Oil Prices

• Brent crude slumped by 0.54% to $73.34/barrel
• US West Texas Intermediate (WTI) crude was trading 0.38% lower at $70.07/barrel

Overnight Major Global Events Driving Sentiment

1. US–Iran Peace Talks: As shipping activity through the Strait of Hormuz gradually returns to normal, US President Donald Trump reportedly criticized Republican lawmakers during a closed-door meeting for supporting a vote aimed at blocking his Iran military campaign. Meanwhile, US Secretary of State Marco Rubio said that the next round of talks between the United States and Iran is scheduled to take place in Switzerland next week, signalling continued diplomatic efforts to advance the peace process.

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