The Indian stock market is expected to open lower on Tuesday, tracking weakness in global markets, as investors remain cautious over the escalating US-Iran war in the Middle East. The trends on Gift Nifty also signal a tepid start for the Indian benchmark indices, Nifty 50 and Sensex, today.
The Gift Nifty was trading around 24,164 level, a discount of nearly 45 points from the Nifty futures' previous close.
“Indian equities are expected to remain lacklustre amid mixed global cues and a lack of domestic triggers. Geopolitical tensions remain elevated amid the prospect of fresh US sanctions on Iran, while sectoral and news-specific action is likely to remain in focus,” said Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.
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Here are five key factors to watch out for before the opening of the Indian stock market today:
Asian Stock Markets
Asian markets traded lower on Tuesday, following overnight weakness on Wall Street. Japan's Nikkei 225 declined 0.52%, while the Topix was flat. South Korea's Kospi plunged 2.52%, and the Kosdaq dropped 2.16%. Hong Kong's Hang Seng index futures indicated a flat opening.
Wall Street
US stock market ended mixed on Mondaym with the S&P 500 and Nasdaq closing lower, weighed down by technology stocks.
The Dow Jones Industrial Average rose 140.15 points, or 0.26%, to 53,417.16, while the S&P 500 fell 21.51 points, or 0.28%, to 7,652.86. The Nasdaq Composite closed 200.26 points, or 0.76%, lower at 25,980.19.
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Iran Sanctions
US Treasury Secretary Scott Bessent threatened economic punishment against any country doing business with Iran as part of what he called an “economic D-Day” campaign to isolate the Islamic Republic and end nearly six months of war, Bloomberg reported.
Gold Rate Today
Gold prices traded near a three-month high, as traders weighed the US Treasury's next move in the bond market. Gold prices rose 0.5% to $4,676.92 an ounce, after adding more than 7% in four sessions. Silver price gained 0.9% to $69.53.
Bitcoin Prices
Bitcoin prices rose toward $80,000, led by the strongest weekly inflows into US spot ETFs in 10 months. The largest token was trading 2.88% higher at 79,806.95. Bitcoin prices gained about 23% last week, its largest weekly increase in more than three years.
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