Indian benchmark indices, Sensex and Nifty 50, are likely to open higher on Wednesday, buoyed by strong overnight global cues and rising optimism surrounding the US-China trade talks.

Asian markets advanced on Wednesday, while US stock futures held steady during early Asian trading hours as investors awaited clarity on trade negotiations and the release of US consumer inflation data for May.

However, on Tuesday, June 10, the Sensex snapped its four-day winning streak as investors booked profits amid mixed global signals.

Domestic Market Recap

On Tuesday, Indian indices closed with minimal changes:

• Sensex slumped by 53 points (0.06%) to close at 82,391.72
• Nifty 50 moved up by 1 point to settle at 25,105.25

Gift Nifty

Gift Nifty was trading near 25,178.50, around 34 points higher than the previous Nifty futures close, hinting at a positive start for Indian markets.

Wall Street Performance

US stock futures traded near the flatline as investors waited for more clarity on trade negotiations and the release of US consumer inflation data for May.

• Dow Jones Industrial Average surged by 105.11 points (0.25%) points to close at 42,866.87.
• S&P 500 up by 32.93 points (0.55%), ending at 6,038.81.
• The Nasdaq Composite was trading higher by 123.75 points (0.63%), finishing at 19,714.99.

Crude Oil Prices

• Brent crude slumped by 0.36% to $66.63/barrel
• US West Texas Intermediate (WTI) crude: -0.32% to $64.77/barrel

Gold Prices

• Spot gold sumped by 0.1% to $3,324.55/oz 
• US gold futures down by 0.3% to $3,343.40

Overnight Major Global Events Driving Sentiment

1. US-China Trade Talks: The trade discussions in London came after both the US and China accused each other of reneging on a May agreement in Geneva intended to ease tensions. Ahead of the talks, China approved multiple rare earth export applications, and Boeing resumed commercial aircraft deliveries to China for the first time since early April—both moves signalling a potential revival in trade activity.

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