The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to trade in a range with a cautious bias on Monday, 17 August, amid mixed overnight global cues.

Asian markets opened mixed on Monday, while US stock futures remained largely unchanged.

On Friday, 14 August, the Sensex and Nifty 50 ended lower, snapping a two-week winning streak. Investors remained cautious amid uncertainty over a potential US-Iran peace deal, volatile crude oil prices, rising bond yields, and concerns over a possible resurgence in inflation.

Domestic Market Recap

On Friday, Indian indices ended in red:

• Sensex slumped by 71 points (0.09%) to close at 78,009.25.
• Nifty 50 moved down by 30.10 points (0.12%) to settle at 24,366.

Gift Nifty

Gift Nifty was trading near 24,405, around 44 points lower than the previous Nifty futures close, hinting at a muted start for Indian markets.

Overnight Wall Street Performance

• The Dow Jones Industrial Average slumped by 107.58 points (0.22%) to close at 53,732.41.
• S&P 500 was up by 13.23 points (0.17%), ending at 7.785.76.
• The Nasdaq Composite was lower by 73.86 points (0.28%), finishing at 26,729.16.

Overnight Major Global Events Driving Sentiment

1. US-Iran War: President Donald Trump said his administration plans to intensify economic pressure on Iran and that he was not concerned about resolving the conflict before the November midterm elections. Treasury Secretary Scott Bessent said the US could announce additional sanctions as early as this week.

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