The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open lower on Tuesday, following weakness in global markets, as the escalation US-Iran war lifted crude oil prices, dampening investor sentiment.
Asian markets traded mixed, while the US stock market ended lower, weighed down by selloff in chip stocks.
On Monday, the Indian stock market indices ended flat with a positive bias amid high volatility as crude oil prices remained elevated on escalating US-Iran war.
The Sensex rose 47.01 points, or 0.06%, to close at 77,616.40, while the Nifty 50 settled 4.10 points, or 0.02%, higher at 24,211.00.
“Indian markets demonstrated resilience despite challenging global cues, reflecting continued support from domestic fundamentals. Indian equities are expected to maintain a gradual uptrend, with the Q1FY27 earnings season likely to be the key catalyst for sectoral and stock-specific action limiting downside. Volatility, however, is likely to remain elevated amid evolving geopolitical developments in West Asia,” said Siddhartha Khemka – Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.
Here are key global market cues for Sensex today:
Asian Markets
Asian markets traded mixed on Tuesday as rising oil prices amid the US-Iran war weighed on sentiment. Japan’s Nikkei 225 fell 0.01%, while the Topix rose 0.30%. South Korea’s Kospi gained 2.22% and the Kosdaq fell 1.34%. Hong Kong’s Hang Seng Index futures indicated a lower opening.
Gift Nifty Today
Gift Nifty was trading around 24,049 level, a discount of nearly 193 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.
Wall Street
US stock market ended lower on Monday as the latest escalation of the Middle East war sent oil prices jumping and dampened risk appetite.
The Dow Jones Industrial Average fell 138.31 points, or 0.26%, to 52,498.70, while the S&P 500 declined 59.92 points, or 0.79%, to 7,515.47. The Nasdaq Composite closed 408.43 points, or 1.55%, lower at 25,873.18.
Nvidia stock price plunged 3.52%, AMD shares tanked 4.21%, Broadcom shares shed 3.98%, Intel share price slipped 6.12%, Micron Technology stock price dropped 4.32%, Microsoft shares gained 1.53%, Meta shares fell 1.86%, Alphabet shares declined 1.23%, Tesla stock price cracked 3.19%, and SpaceX shares slipped 4.24%.
US-Iran War
US President Donald Trump has formally informed lawmakers that the country is once again at war with Iran, giving his administration 60 days to use the military in the region without congressional approval. Meanwhile, Iran-backed Houthis in Yemen said they launched missile and drone attacks targeting Saudi Arabia’s Abha airport.
India CPI Inflation, Trade Deficit
India’s retail inflation rose to 4.38% in June compared to 3.93% in May, mainly due to higher prices of food items. Inflation, as measured by the Consumer Price Index (CPI), exceeded the median estimate of 4.2% forecast by 18 economists in a Mint poll.
India’s merchandise trade deficit widened to a five-month high of $30.43 billion in June, compared with a deficit of $28.21 billion in the previous month. Including services, India’s total exports rose 9.5% to $73.45 billion in June from $67.09 billion a year ago, while total imports rose 26.8% to $88.76 billion from $69.98 billion, taking the overall trade deficit to $15.32 billion, compared with $2.89 billion in June 2025.
HCL Technologies Q1 Results
HCL Technologies’ Q1FY27 net profit rose 3.03% QOQ to ₹4,624 crore, while revenue grew 1.8% QoQ to ₹34,579 crore. Revenue in dollar terms fell 0.87% to $3,650 million. EBIT increased 3.8% to 5,831 crore, while EBIT margin improved to 16.86% from 16.50, QoQ.
The IT major has retained its revenue growth guidance of 1-4% YoY in constant currency terms for FY27, and also kept its operating margin guidance of 17.5% to 18.5% for the full year.
The company’s board recommended an interim dividend of ₹12 per equity share.
Bond Yields
US Treasury yields climbed sharply overnight as rising oil prices stoked inflation fears following renewed US-Iran tensions. The yield on the benchmark US 10-year Treasury note gained 4.9 bps to 4.618%, while the yield on the 30-year bond rose 3.3 bps to 5.104%. The two-year US Treasury yield jumped 6.5 bps to 4.273%.
Benchmark Japanese government bond (JGB) yields rose for a second day. The 10-year JGB yield rose 1 bp to 2.795%. The two-year yield and the five-year yield both held steady.
Crude Oil Prices
Crude oil prices rose 2% to their highest in four weeks amid heightened uncertainty about energy flows through the Strait of Hormuz after renewed escalation in the US-Iran war. Brent crude futures climbed 2% to $84.98 per barrel, while US West Texas Intermediate crude gained 2.1% to $79.79 a barrel. Brent crude surged 9.6% in the previous session, its biggest daily gain since May 2020.
Gold Rate Today
Gold prices held a decline on rising likelihood of interest-rate hikes to contain inflation. Spot gold prices fell 0.1% to $3,996.63 an ounce, while silver price declined 0.3% to $57.50 an ounce.
Dollar
The dollar steadied ahead of the US inflation data. The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, was flat at 101.27. The euro was stable against the dollar at $1.1383 and sterling traded at $1.3347, Reuters reported. The Japanese yen was roughly flat against the greenback at 162.40 per dollar.
(With inputs from Agencies)