The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open lower on Thursday as investors track mixed overnight global market cues amid escalating tensions between the US and Iran in the Middle East.

Asian markets traded higher, while the US stock market closed lower overnight, with the Nasdaq leading the decline as technology stocks came under selling pressure.

The Indian stock market witnessed a sharp decline on Wednesday, with both benchmark indices losing nearly 1% as broad-based selling weighed heavily on investor sentiment.

Domestic Market Recap

On Tuesday, Indian indices ended in the red:

• Sensex crashed by 715.06 points (0.92%) to close at 76,755.05.
• Nifty 50 moved down by 191.45 points (0.79%) to settle at 23,996.25

Gift Nifty

Gift Nifty was trading near 23,887, around 101 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 lower on Wednesday as investors remained cautious ahead of key corporate earnings reports, while renewed hostilities in the Middle East fueled inflation concerns and weighed on market sentiment.

• The Dow Jones Industrial Average slumped by 6.06 points (0.01%) to close at 52,218.58.
• S&P 500 was down by 10.24 points (0.14%), ending at 7.498.96.
• The Nasdaq Composite was lower by 146.30 points (0.57%), finishing at 25,690.90.

Crude Oil Prices

• Brent crude gained by 1.58% to $95.56/barrel
• US West Texas Intermediate (WTI) crude was trading 1.30% higher at $87.96/barrel

Overnight Major Global Events Driving Sentiment

1. US-Iran War: The US military carried out another overnight wave of strikes targeting Iranian military and infrastructure sites. Meanwhile, President Donald Trump said Tehran wants to reach a deal to end the conflict but added that he believes Iran is not yet ready to negotiate. At the same time, Iran continued to blockade the Strait of Hormuz and target vessels passing through the strategic waterway, keeping geopolitical tensions elevated.

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