Indian Stock Market Sees Significant Shifts in Global and Domestic Markets Over the Weekend
Indian Stock Market Expected to Open Higher on Monday
The Indian stock market benchmark indices, Sensex and Nifty 50, are anticipated to open higher on Monday, following a rally in global markets, amid renewed hopes of US-Iran peace talks. Asian markets traded higher, while the US stock market ended higher last week, with the S&P 500 and Nasdaq closing at record highs.
Global Market Cues
Asian markets traded mostly higher despite escalating tensions in the Middle East and elevated crude oil prices. Japan's Nikkei 225 gained 0.53% to hit a record high, while South Korea's Kospi jumped 1% to also a record level. Hong Kong Hang Seng index futures indicated a higher opening.
Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
| Market | Previous Close | Current Gain/Loss |
|---|---|---|
| Nikkei 225 (Japan) | N/A | 0.53% |
| Kospi (South Korea) | N/A | 1% |
| Hang Seng (Hong Kong) | N/A | Higher Open |
US Stock Market
The US stock market ended higher on Friday, with the S&P 500 and Nasdaq closing at record highs, on optimism for possible US-Iran peace talks. The Dow Jones Industrial Average fell 79.61 points, or 0.16%, to 49,230.71, while the S&P 500 gained 56.68 points, or 0.80%, to 7,165.08. The Nasdaq Composite closed 398.09 points, or 1.63%, higher at 24,836.60.
| Index | Previous Close | Current Close |
|---|---|---|
| S&P 500 | N/A | 7,165.08 |
| Nasdaq | N/A | 24,836.60 |
| Dow Jones | 49,310.32 | 49,230.71 |
Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline
Reliance Q4 Results
Reliance Industries reported a 12.6% YoY fall in its Q4FY26 consolidated net profit to ₹16,971 crore, while its consolidated revenue from operations rose 12.9% YoY to ₹2,98,621 crore. Consolidated EBITDA for the quarter declined 0.3% YoY to ₹48,588 crore, while EBITDA margin shrank by 200 bps YoY to 14.9%. Reliance Industries also announced a dividend of ₹6 per share for FY26.
Crude Oil Prices
Crude oil prices rallied as peace talks between the US and Iran stalled while shipments through the Strait of Hormuz remained limited. Brent crude futures gained 2.05% to $107.49 a barrel and US West Texas Intermediate was at $96.17 a barrel, or 1.88%.
Gold Rate Today
Gold prices fell pressured by a firm dollar. Spot gold price declined 0.3% to $4,694.26 per ounce. Last week, the metal lost 2.5% to snap a four-week winning streak. US gold futures for June delivery fell 0.9% to $4,697.60. Spot silver prices fell 0.3% to $75.48 per ounce.
Dollar
The US dollar rose on safe-haven demand. The dollar index, which measures the US currency against six major peers, was at 98.623.
Investor Takeaway
Investors should remain cautious due to geopolitical developments and crude oil movements.
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