The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Thursday, 3 September, supported by positive overnight global cues.

Gift Nifty also pointed to a strong opening for domestic equities. Around the latest available levels, it traded at 24,083.5, showing a premium of 83.2 points over the previous close of Nifty futures.

The Sensex and Nifty 50 ended lower in the previous session, with the Nifty 50 closing below the key 24,000 level.

Domestic Market Recap

On Wednesday, Indian indices ended red:

• Sensex slumped by 373.93 points (0.49%) to close at 76,570.35.
• Nifty 50 moved down by 141.35 points (0.59%) to settle at 23,914.45.

Gift Nifty

Gift Nifty was trading near 24,093, around 93 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 soared by 295.07 points (0.56%) to close at 53,061.95.
• S&P 500 was up by 35.13 points (0.46%), ending at 7.666.60.
• The Nasdaq Composite was higher by 118.05 points (0.45%), finishing at 26,217.83.

Overnight Major Global Events Driving Sentiment

1. US-Iran War: US President Donald Trump said Washington was ready to strike Iran “at any time”, although he did not expect the renewed fighting to continue “too long”. Trump also claimed that the US has “almost total control” over the Strait of Hormuz. Meanwhile, Saudi Arabia accused Iran of attacking the Saudi-owned supertanker Sidr with projectiles north of Oman’s Musandam Peninsula. The reported attack killed two sailors. Iran has not responded to the allegations, while Kuwait and the UAE condemned the reported incident.

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