Global Markets Shift Overnight: Key Developments Influencing Indian Stock Exchange

Stock Market Update: Sensex and Nifty 50 Expected to Open Flat Amid Global Market Volatility

The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open flat on Thursday, as investors remain cautious over the US-Iran war and volatile crude oil prices. Asian markets traded mixed, while the US stock market ended higher overnight, with the S&P 500 and Nasdaq surging to record-high closes.

On Wednesday, the Indian stock market ended with strong gains, as fag-end buying lifted both the benchmarks more than 1% amid reports that the US and Iran were nearing a deal to end their conflict. The Sensex jumped 940.73 points, or 1.22%, to close at 77,958.52, while the Nifty 50 settled 298.15 points, or 1.24%, higher at 24,330.95.

Market analysts are advising traders to maintain a positive yet cautious stance, focusing on stock-specific opportunities across sectors, while closely monitoring crude oil prices and geopolitical developments for further directional cues.

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Asian markets traded mixed on Thursday, following overnight rally on Wall Street. Gift Nifty was trading around 24,442 level, a discount of nearly 5 points from the Nifty futures' previous close, indicating a flat start for the Indian stock market indices.

The US stock market ended higher on Wednesday, with the S&P 500 and the Nasdaq surging to record-high closes, buoyed by signs of a resolution in the Middle East conflict and a rally in AI-related stocks. The Dow Jones Industrial Average rallied 1.24% to 49,910.59, while the S&P 500 gained 1.46% to end at 7,365.09. The Nasdaq closed 2.03% higher at 25,838.94.

Key gainers on the Wall Street included Nvidia stock price, which surged 5.68%, Advanced Micro Devices (AMD) shares, which jumped 18.64% to an all-time high, Intel shares, which gained 4.46%, Apple stock price, which rose 1.16%, and Tesla stock price, which rallied 2.37%.

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline

The US-Iran war is expected to be over quickly, according to US President Donald Trump, as he seeks a deal to end the stalemate over the Strait of Hormuz and Tehran's nuclear program. Iranian foreign ministry spokesman Esmaeil Baqaei told local media that the "US plan and proposal are still under review."

AMD shares jumped over 18% after it forecast second-quarter revenue above Wall Street expectations. The company expects second quarter revenue at $11.2 billion, plus or minus $300 million, compared with estimates of $10.52 billion. It also forecast server CPU revenue to grow by more than 70% year-on-year in the second quarter.

Gold prices steadied after its biggest daily advance since late March. Spot gold price was steady at $4,692.98 an ounce, while silver price rose 0.1% to $77.44 after jumping 6.2% on Wednesday.

Crude oil prices steadied after sharp losses in the previous session. Brent crude oil price rose 0.78% to $102.06 a barrel, while the US West Texas Intermediate (WTI) crude futures gained 0.96% to $95.99.