India's Stock Market Sees Overnight Shifts: Key Factors to Watch

Indian Stock Market Outlook

The Sensex and Nifty 50 are expected to open lower on Wednesday, amid mixed global market cues, as investors remain cautious over the developments in the US-Iran war.

Global Market Cues

Asian markets traded higher, with Japan's Nikkei 225 gaining 1.36%, while South Korea's Kospi rallied 2.52%. However, Hong Kong's Hang Seng index indicated a muted opening.

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US Market Update

The US stock market ended lower on Tuesday, with the Dow Jones Industrial Average declining 0.07% to 47,706.51, and the S&P 500 falling 0.21% to 6,781.48.

Key Stock Performers

• Nvidia stock price gained 1.16%
• AMD shares rose 0.27%
• Intel stock price rallied 2.63%
• Apple share price rose 0.37%
• SanDisk shares jumped 5.12%
• Tesla stock price added 0.14%
• Centene shares plunged 15.97%

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

Oil Market Update

Crude oil prices steadied after falling over 11% overnight, with Brent crude oil price rising 0.91% to $88.60 a barrel, and US West Texas Intermediate (WTI) crude futures gaining 0.55% to $83.91.

Gold and Silver Prices

Gold prices rose 0.4% to $5,213.99 per ounce, while silver prices rose 0.6% to $88.89 per ounce.

Dollar Index

The dollar index held its ground, inching away from the three-month top hit on Monday, at 98.876.

IEA Proposal

The International Energy Agency (IEA) has proposed its largest ever release of oil reserves to counter soaring crude prices driven by the US-Iran war, with a release exceeding 182 million barrels.

Reliance Oil Refinery

President Donald Trump announced that Reliance Industries was supporting a proposed oil refinery project in Texas, which he described as a 'historic' development for the United States energy sector.