Key Market Developments: Overnight Shifts in Global and Domestic Indices
Indian Stock Market Expected to Open Higher on Thursday
The Indian stock market benchmark indices, Sensex and Nifty 50, are anticipated to open on a positive note on Thursday, following upbeat cues from global markets. Asian markets registered gains, while the US stock market ended mostly higher overnight, led by a rally in technology stocks.
On Wednesday, the Indian stock market experienced a modest rebound, snapping its four-day losing streak. The Sensex rose 49.74 points, or 0.07%, to close at 74,608.98, while the Nifty 50 settled 33.05 points, or 0.14%, higher at 23,412.60.
Market analysts attribute the rebound to oversold market conditions and buying in select heavyweight stocks. However, investor sentiment remains cautious amid ongoing geopolitical uncertainty surrounding the US-Iran conflict and persistent foreign institutional outflows.
Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
Global Market Cues
Global market cues for Sensex today include:
| Market | Change (%) |
|---|---|
| Nikkei 225 | 0.66% |
| Topix | -0.23% |
| Kospi | 1.63% |
| Kosdaq | 1.31% |
| Hong Kong Hang Seng index futures | Higher |
Asian markets traded mixed on Thursday ahead of the meeting between US President Donald Trump and his Chinese counterpart Xi Jinping for clues on the future of US-China ties.
Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline
US Stock Market
The US stock market ended mostly higher, with gains in S&P 500 and Nasdaq, led by artificial intelligence-related tech shares. The Dow Jones Industrial Average fell 67.36 points, or 0.14%, to 49,693.20, while the S&P 500 rallied 43.29 points, or 0.58%, to 7,444.25. The Nasdaq Composite closed 314.14 points, or 1.20%, higher at 26,402.34.
Notable stock price movements in the US market included:
- Nvidia stock price rallied 2.29%
- Microsoft shares fell 0.63%
- Apple stock price rose 1.38%
- Amazon shares gained 1.62%
- Meta share price surged 2.26%
- Tesla stock price jumped 2.73%
- Ford shares spiked 13.2%
US Producer Prices
US producer prices posted their biggest increase in four years in April, with the PPI for final demand surging 1.4% last month, the largest rise since March 2022. Economists polled by Reuters had forecast the PPI gaining 0.5% after a previously reported 0.5% increase in March.
US Treasury Yields
US treasury yields rose, with longer-dated yields reaching the highest levels since mid-2025. The yield on benchmark US 10-year notes was up 0.2 basis points at 4.473%. The 30-year yields surged above 5%.
Japanese Bond Yields
The yield on Japan's benchmark government bond (JGB) climbed for a fourth consecutive session to a near three-decade high amid inflation fears. The 10-year JGB yield climbed 2 basis points (bps) to 2.605%, its highest level since May 1997.
Other Market Updates
Gold prices rose as investors focused on the Trump-Xi meeting, with spot gold price gaining 0.3% to $4,699.87 per ounce. Crude oil prices rose ahead of the Trump-Xi meeting and as traders focused on the US-Iran war, with Brent crude futures rising 0.12% to $105.76 a barrel.
Investor Takeaway
Investors should remain cautious amid ongoing geopolitical uncertainty and persistent foreign institutional outflows.
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