Indian stock market: The domestic equity market indices, Sensex and Nifty 50, are expected to open higher on Tuesday, following upbeat global market cues after US President Donald Trump announced that Israel and Iran have agreed to a ceasefire.
Asian markets rallied, while the US stock market ended higher overnight in hopes of an early interest rate cut by the US Federal Reserve.
On Monday, the Indian stock market ended sharply lower, dragged by broad-based selloff, as escalating Israel-Iran war continues to weigh on sentiment.
The crashed 511.38 points, or 0.62%, to close at 81,896.79, while the Nifty 50 settled 140.50 points, or 0.56%, lower at 24,971.90.
“Looking ahead, in the absence of any major domestic triggers, global market performance and crude oil price movement will be key in setting the tone. Participants are advised to avoid aggressive bets and instead focus on selective stock picking based on relative strength during this consolidation phase,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.
Here are key global market cues for Sensex today:
Asian Markets
Asiam markets traded higher on Tuesday after the Israel-Iran ceasefire announcement by US President Donald Trump. Japan’s Nikkei 225 rallied 1.59%, while the Topix index rose 1.32%. South Korea’s Kospi jumped 2.09% and the Kosdaq index surged 1.71%. Hong Kong’s Hang Seng index indicated a higher open.
Gift Nifty Today
Gift Nifty was trading around 25,175 level, a premium of nearly 181 points from the Nifty futures’ previous close, indicating a gap-up start for the Indian stock market indices.
Wall Street
US stock market ended higher on Monday on prospects of the US Federal Reserve cutting interest rates as early as July.
The Dow Jones Industrial Average rallied 374.96 points, or 0.89%, to 42,581.78, while the S&P 500 surged 57.33 points, or 0.96%, to 6,025.17. The Nasdaq Composite closed 183.57 points, or 0.94%, higher at 19,630.98.