Indian Stock Market Sees Flat Start as Nifty Signals Calm Beginnings; Nasdaq and Nikkei Reach Record Highs

Indian Stock Market Expected to Open Flat Amid Global Rally

The Indian stock market is anticipated to open on a flat note on Thursday, amidst a rally in global markets on hopes of a resolution to the US-Iran war in the Middle East. Investor sentiment is expected to remain cautious due to the volatility in crude oil prices and ongoing Q4 results.

The trends on Gift Nifty indicate a flat start for the Indian benchmark indices, Nifty 50 and Sensex. The Gift Nifty was trading around 24,450 level, a premium of nearly 3 points from the Nifty futures' previous close.

Global Markets Trade Mixed

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Globally, Asian markets traded mixed, with Japan's Nikkei hitting a record high, while the US stock market ended higher overnight. The S&P 500 and Nasdaq surged to record-high closes. US President Donald Trump predicted that the war in Iran will be over quickly. Iranian foreign ministry spokesman Esmaeil Baqaei told local media that the "US plan and proposal are still under review." Reports said that Iran has also laid out an updated process for ships seeking to transit the Strait of Hormuz.

Commodity Markets Rise

Gold prices rose for a third straight session, supported by a softer dollar as hopes grew for a potential peace deal between the United States and Iran. Spot gold price gained 0.3% to $4,701.19 per ounce, after rising about 3% on Wednesday to hit its highest level since April 27. US gold futures for June delivery rose 0.4% to $4,710. Spot silver price rose 0.5% to $77.68 per ounce.

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Live Updates

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