Overnight Stock Market Movements: Key Developments 

The Indian stock market benchmark indices, BSE Sensex and Nifty 50, are set to open higher on Friday, tracking gains in overnight global markets as investors evaluate the fragile two-week US-Iran ceasefire deal.

Asian markets traded higher, while the US stock market closed in positive territory overnight amid optimism around potential peace talks between the US and Iran.

However, on Thursday, the Indian stock market fell sharply as fading hopes of a ceasefire in the US-Iran conflict and rising crude oil prices rekindled inflation concerns.

Domestic Market Recap

On Thursday, Indian indices closed red:

• Sensex crashed by 931.25 points (1.20%) to close at 76,631.65
• Nifty 50 moved down by 222.25 points (0.93%) to settle at 23,775.10

Gift Nifty

Gift Nifty was trading near 23,941, around 80 points higher than the previous Nifty futures close, hinting at a positive start for Indian markets.

Overnight Wall Street Performance

The US stock market closed sharply higher on Thursday as progress in negotiations aimed at resolving the US–Iran conflict helped ease investor concerns.

• The Dow Jones Industrial Average soared by 275.88 points (0.58%) to close at 48,185.80.
• S&P 500 up by 41.85 points (0.62%), ending at 6,824.66.
• The Nasdaq Composite was higher by 187.42 points (0.83%), finishing at 22,882.42.

Crude Oil Prices

• Brent crude gained by 0.87% to $96.75/barrel
• US West Texas Intermediate (WTI) crude was trading 1.06% higher at $98.91/barrel

Overnight Major Global Events Driving Sentiment

1. US–Iran War: Iran’s new Supreme Leader, Mojtaba Khamenei, warned that Iran would not let the US and Israel avoid consequences for what he described as aggression. Meanwhile, US President Donald Trump questioned the effectiveness of the ceasefire aimed at halting the Iran war.
2. US GDP: The third estimate showed that US Gross Domestic Product grew at a downwardly revised annualised rate of 0.5%, compared with the earlier estimate of 0.7% for the fourth quarter, while the advance estimate had indicated growth of 1.4%. Economists polled by Reuters had expected the figure to remain unrevised at 0.7%.
3. US Inflation: Personal Consumption Expenditures Price Index rose as expected in February, increasing 0.4% after a 0.3% gain in January. On a year-on-year basis, PCE inflation climbed 2.8%, in line with economists’ forecasts.

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