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Indian stock market: The domestic equity market indices, Sensex and Nifty 50, are expected to open lower on Thursday following a sell-off in global markets.

Asian markets declined, while the US stock market ended sharply lower overnight, with all three major Wall Street indexes closing with their biggest daily losses in a month.

On Wednesday, the Indian stock market ended higher, snapping its three-day losing streak, lifted by buying in heavyweights.

The Sensex gained 410.19 points, or 0.51%, to close at 81,596.63, while the Nifty 50 settled 129.55 points, or 0.52%, higher at 24,813.45.

“Although markets reversed its two-day losing streak, benchmark indices pared most of their early gains to end off highs, as investors remain cautiously optimistic awaiting the tariff solution between the US and other major economies, including India. Investors are also wary of the indications of a war between Israel and Iran, and the steady rise in coronavirus cases in few of the southeast Asian countries,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Here are key global market cues for Sensex today:

Asian markets traded lower on Thursday, tracking declines overnight losses on Wall Street.

Japan’s Nikkei fell to a two-week low, while a spike in US Treasury yields and a stronger yen weighed on sentiment. The Nikkei dropped 0.8% to 37,007.79, after dropping to 36,873.61, the lowest since May 8. The Topix slipped 0.45%.

South Korea’s Kospi declined 0.59% and the Kosdaq fell 0.69%. Hong Kong’s Hang Seng index futures indicated a lower opening.

Gift Nifty was trading around 24,783 level, a discount of nearly 48 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.

US stock market ended sharply lower on Wednesday as Treasury yields spiked on worries that US government debt would swell by trillions of dollars if Congress passes President Donald Trump’s proposed tax-cut bill.

The Dow Jones Industrial Average declined 816.80 points, or 1.91%, to 41,860.44, while the S&P 500 dropped 95.85 points, or 1.61%, to 5,844.61. The Nasdaq Composite closed 270.07 points, or 1.41%, lower at 18,872.64.

Google parent Alphabet share price rose 2.7%, while Nvidia stock price declined 1.9%, Apple shares dropped 2.3% and Tesla share price fell 2.7%. UnitedHealth Group shares declined nearly 6%, Target shares plunged 5.2% and Wolfspeed shares crashed nearly 60%.

India and the US may announce an interim trade agreement before July 8, with New Delhi seeking full exemption from the additional 26 per cent tariff on domestic goods, news agency PTI reported, quoting an official.

The Israeli military said it intercepted a missile launched from Yemen targeting Israel early on Thursday/ The missile triggered sirens in several areas of central Israel, the military said in a statement.

Longer-dated US Treasury yields rose after the Treasury Department’s $16 billion sale of 20-year bonds met soft demand from investors. The yield on benchmark US 10-year notes rose 10.8 basis points to 4.589%. During the session, the 10-year yield hit its highest since mid-February.

After the Treasury auction, yields on the 20-year debt rose to 5.127%, the highest since November 2023. The 30-year bond yield rose 11.5 basis points to 5.0817% from 4.967% late on Tuesday.

The dollar fell against a broad swathe of currencies. The euro was up 0.4% against the dollar to $1.1334. The pound hit its highest level since February 2022. The Japanese yen strengthened against the dollar, which fell 0.6% to 143.62 yen.

Bitcoin prices hit an all-time high after the advancement of stablecoin legislation in the US stoked hopes of regulatory clarity under President Donald Trump. The largest cryptocurrency climbed as much as 2.7% to a record $109,856.

Crude oil prices eased as unexpected builds in US crude and fuel inventories raised demand concerns, amid renewed Iran-US nuclear talks.

Brent futures fell 0.55% to $64.55 a barrel, while US West Texas Intermediate crude prices dropped 0.52% to $61.25.

Gold prices rose as investors leaned toward the safe-haven asset amid weakness in the dollar. Spot gold prices gained 0.2% to $3,320.37 an ounce, while US gold futures rose 0.3% to $3,322.20.

(With inputs from Reuters)

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