The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Monday, 24 August, despite mixed overnight global cues.

Asian markets traded mostly lower on Monday, while US stock futures edged down as investors looked to recover from last week’s losses, triggered by a sharp rise in Treasury yields.

On Friday, 21 August, the Sensex and Nifty 50 ended largely flat, extending their losing streak to a second consecutive week amid elevated crude oil prices, stalled US-Iran negotiations, and rising US bond yields.

Domestic Market Recap

On Friday, Indian indices ended green:

• Sensex gained by 3 points (0.0%) to close at 77,540.83.
• Nifty 50 moved up by 20 points (0.08%) to settle at 24,252.

Gift Nifty

Gift Nifty was trading near 24,390, around 43 points higher than the previous Nifty futures close, hinting at a positive start for Indian markets.

Overnight Wall Street Performance

• The Dow Jones Industrial Average gained by 517.80 points (0.98%) to close at 53,277.01.
• S&P 500 was up by 33.21 points (0.43%), ending at 7.674.37.
• The Nasdaq Composite was higher by 113.29 points (0.43%), finishing at 26,180.46.

Crude Oil Prices

• Brent crude slumped by 1.29% to $93.17/barrel
• US West Texas Intermediate (WTI) crude was trading 1.38% lower at $85.86/barrel

Overnight Major Global Events Driving Sentiment

1. US-Iran War: US Treasury Secretary Scott Bessent is expected to announce new sanctions against Iran on Monday as part of what he calls the largest campaign of “coordinated economic isolation” in history. The move follows US President Donald Trump’s warning last week that Washington would launch the “most crushing economic operation ever taken against any country” against Iran.

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