The Indian stock market is likely to open lower on Tuesday, 8 September, as elevated crude oil prices continue to weigh on the overnight macroeconomic outlook.

Asian markets opened mixed on Tuesday, while US stock futures remained closed due to the Labor Day holiday.

Indian equities remained under pressure on Monday, 7 September, extending their recent weakness as rising tensions in the Middle East kept crude oil prices elevated.

Domestic Market Recap

On Monday, Indian indices ended red:

• Sensex slumped by 382.62 points (0.50%) to close at 76,132.81.
• Nifty 50 moved down by 118.55 points (0.50%) to settle at 23,867.70.

Gift Nifty

Gift Nifty was trading near 23,790, around 78 points lower than the previous Nifty futures close, hinting at a negative start for Indian markets.

Overnight Wall Street Performance

US equities remained closed on Monday for the Labor Day holiday, with trading set to resume on Tuesday. Over the long weekend, tensions between the US and Iran escalated again, with fresh developments in the conflict keeping oil prices and geopolitical risks in focus ahead of the trading session.

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