Indian Stock Market Sees Overnight Shifts Amidst Global Rally Sparked by Nvidia's Q4 Earnings

Indian Stock Market Set to Open Higher on Thursday

The Sensex and Nifty 50 indices are expected to open higher on Thursday, following a rally in global markets. Asian markets gained overnight, while the US stock market ended higher, with technology stocks extending their upward momentum.

Key Global Market Cues

• Asian Markets: Japan's Nikkei 225 crossed above 59,000 for the first time, rising 1.1% to an all-time high of 59,199.31. The Topix rallied 1.45%, scaling a new peak.
• US Stock Market: The Dow Jones Industrial Average rose 307.65 points, or 0.63%, to 49,482.15. The S&P 500 gained 56.06 points, or 0.81%, to 6,946.13. The Nasdaq Composite closed 288.40 points, or 1.26%, higher at 23,152.08.

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Company Earnings and Macro Developments

• Nvidia: Reported a record revenue of $68.1 billion in the fourth quarter, up 73% from a year ago, and forecast the current quarter's revenue at $78 billion, plus or minus 2%.
• US Crude Oil Inventories: Rose by 16 million barrels to 435.8 million barrels in the week ended February 20.

Currency and Commodities

• Dollar: Slipped as markets awaited details of the latest US tariffs on imports of foreign goods. The US dollar index fell to 97.592.
• Gold: Steadied amid geopolitical tensions in the Middle East and US tariffs uncertainties, rising 0.1% to $5,170.75 an ounce.
• Crude Oil Prices: Traded higher ahead of nuclear talks between the US and Iran, with Brent crude oil price rising 0.27% to $71.07 a barrel, and the US West Texas Intermediate (WTI) crude futures gaining 0.24% to $65.58.

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