Kolkata: Can the stock market open in the green today? The possibilities can’t be ruled out since a few cues point to that way. On Thursday early morning, GIFT Nifty is trading in the green. At 7 am it was at 23, 547, 116.50 points up or 0.50%. Brent crude futures were up marginally this morning after declining on Wednesday on expectations of a breakthrough in the West Asia crisis as US President Donald Trump and Chinese premier Xi Jinping meet in Beijing. On Thursday morning, Brent crude edged up 13 cents, or 0.12%, to reach $105.76 a barrel while US West Texas Intermediate futures rose 12 cents, or 0.12%, to touch $101.14. On May 13, BSE Sensex and Nifty ended marginally in the green marking a reversal of the four-day decline, Sensex rose 49.74 points, or 0.07% to close at 74,608.98, while Nifty ended the day at 23,412.60, up 33.05 points or 0.14%. During the day Sensex gyrated 1,057.09 points.
US markets
Trading in the US on May 13 was marked by a spectacular rebound for technology stocks. Triggered by this jump S&P 500 surged 0.6% and bettered its earlier all-time high. However, on the whole, a majority of US stocks declined after signals of inflation strengthened following an update on the US economy. Wholesale inflation was worse than what most economists expected, reports stated. The Dow Jones Industrial Average declined 0.1%, and the Nasdaq composite climbed 1.2% to its own record.
S&P 500 rose 43.29 points, or 0.6%, to 7,444.25. The Dow Jones Industrial Average fell 67.36 points, or 0.1%, to 49,693.20. Nasdaq composite rose 314.14 points, or 1.2%, to 26,402.34, while Russell 2000 index of smaller companies rose 1.10 points, or less than 0.1% to 2,843.93.
Trump-Xi meet and the crude oil market
The crude oil market, which has become the focus of all policymakers and investors since US bombed Teheran on Feb 28, 2026 beginning the US-Iran war, was looking forward to the outcome of the meeting between Xi Jinping and Donald Trump. Even as a fragile ceasefire exists now, the Strait of Hormuz, through which 20% of the global maritime crude oil passes, remained mostly closed. Analysts have said that the Chinese premier could use his influence with Teheran to broker a deal that could flag a return to normalcy after the worst energy crisis in the world. “Failure to make meaningful progress on reopening the strait could leave the US with few options other than renewed military action,” IG analyst Tony Sycamore said in a note, according to a Reuters report.