Sensex and Nifty 50 are set to open lower on Monday as mixed overnight global cues weigh on sentiment. Asian markets traded mostly higher, while US markets ended mixed, with the Nasdaq closing at a record high.

Moreover, this week, investors will closely track key market triggers such as progress on the India-US trade deal, the US Federal Reserve’s policy decision, developments in the India-EU trade deal, foreign fund flows, and major domestic and macroeconomic data.

Furthermore, on Friday, the Indian stock market closed higher, with the Nifty 50 finishing above the 25,100 mark.

Domestic Market Recap

On Friday, Indian indices closed in the green:

• Sensex surged by 355.97 points (0.44%) to close at 81,904.70
• Nifty 50 moved up by 108.50 points (0.43%) to settle at 25,114

Gift Nifty

Gift Nifty was trading near 25,161, around 43 points lower than the previous Nifty futures close, hinting at a negative start for Indian markets.

Overnight Wall Street Performance

Wall Street’s main indexes closed mixed on Friday, 12 September, with the Nasdaq attaining a new record high close. 

• The Dow Jones Industrial Average slumped by 273.78 points (1.59%) to close at 45,834.22.
• S&P 500 down by 3.18 points (0.05%), ending at 6,584.29.
• The Nasdaq Composite was trading higher by 98.03 points (0.44%), finishing at 22,141.10.

Gold Prices

• Spot gold was trading at $3,636.73/oz
• US gold futures were trading 0.2% down at $3,673.60

Crude Oil Prices

Crude oil prices rose as investors evaluated the impact of Ukrainian drone strikes on Russian refineries.

• Brent crude gained by 0.18% to $67.11/barrel
• US West Texas Intermediate (WTI) crude was trading 0.22% lower at $62.83/barrel

Overnight Major Global Events Driving Sentiment

1. SEBI Board Meeting: The SEBI board approved several reforms, including relaxation in the minimum public shareholding (MPS) requirement, simplified norms for low-risk foreign investors to enter India’s securities market, reclassification of REITs as “equity,” and a reduction in maximum exit loads for mutual funds, among others.
2. India CPI Inflation: India’s retail inflation rose for the first time since October 2024. CPI-based inflation climbed 2.07% YoY in August, compared with a revised 1.61% in July (earlier estimated at 1.55%). 
3. US-China Trade Talks: US and Chinese officials began a new round of talks in Madrid on Sunday to address their strained trade ties, the looming divestiture deadline for TikTok, and Washington’s demand that its allies impose tariffs on Chinese imports over its Russian oil purchases.
4. US Inflation Expectations: A survey showed that consumers’ expectations for US inflation over the next year remained unchanged at 4.8%, while long-term expectations for the next five years rose to 3.9% from 3.5% last month.
5. US Consumer Sentiment: The University of Michigan’s survey revealed that US consumer sentiment fell for the second straight month in September. The Consumer Sentiment Index dropped to 55.4, the lowest since May, compared with 58.2 in August.

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