Previously, during the early morning session, the Sensex opened trading above 77,100, climbing more than 200 points, while the NSE benchmark Nifty50 rang the opening bell near 24,100, inching up almost 70 points, as of 9:15 AM.

GIFT Nifty Indicates Positive Bias For Indian Markets

The GIFT Nifty pointed to a positive undertone for Indian equities despite weakness across global markets.

During the pre-open session at around 9:03 am, the Sensex was down 61.55 points, or 0.08 per cent, at 76,861.09, while the Nifty edged up 5.40 points, or 0.02 per cent, to 24,011.25, indicating a largely flat start to the trading session.

Despite the subdued pre-open trend, the GIFT Nifty was trading nearly 140 points, or 0.58 per cent, higher, signalling underlying optimism among market participants.

Domestic sentiment was supported by easing crude oil prices and the resilience shown by Indian benchmark indices in recent sessions, although caution is expected to persist amid weakness in overseas markets.

Asian Markets Decline After Wall Street Tech Sell-Off

Equity markets across the Asia-Pacific region traded lower following a broad-based sell-off in technology stocks on Wall Street.

South Korea recorded the steepest losses, with the Kospi falling more than 5 per cent at the open, prompting the Korea Exchange to briefly suspend programme trading. The Kosdaq also declined sharply, while Japan's Nikkei 225 traded in negative territory.

The weakness reflected continued pressure on global semiconductor and technology stocks.

US Markets End Lower

US equities closed lower on Wednesday as investors reduced exposure to semiconductor companies.

The Nasdaq Composite posted the biggest decline among the major indices, while the S&P 500 also ended lower. The Dow Jones Industrial Average slipped marginally.

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US index futures traded mixed during Asian hours as investors remained cautious ahead of fresh economic data and corporate developments.

Crude Oil Extends Decline

Crude oil prices remained under pressure, offering support to oil-importing economies such as India.

Brent crude traded near $71 per barrel, while WTI crude slipped below $68 per barrel. June also recorded the steepest monthly decline in oil prices since March 2020.

Lower crude prices could help ease inflationary pressures, reduce India's import bill and support corporate earnings in sectors with significant fuel and logistics costs.

Gold Slips, Silver Holds Steady

Precious metals traded on a mixed note in early trade.

Gold prices declined on COMEX, extending losses from the previous session, while silver traded largely unchanged after falling to its lowest level of the year in the previous session.

In the domestic market, however, silver prices remained higher, reflecting local demand.

Rupee Weakens Against Dollar

The Indian rupee weakened against the US dollar in the previous session, closing at 95.24.

Meanwhile, the US Dollar Index remained largely steady, reflecting cautious sentiment in global currency markets.

Currency movements are expected to remain in focus alongside commodity prices and global market developments.

Sensex, Nifty Extend Gains In Previous Session

Indian equity benchmarks ended Wednesday's session higher despite mixed global cues.

The Sensex gained 443.97 points, or 0.58 per cent, to settle at 76,922.64, while the Nifty50 advanced 140 points, or 0.59 per cent, to close at 24,005.85.

Gains were led by gems and jewellery, sugar and education stocks, while tea and coffee shares emerged among the biggest laggards.

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Author : Sagarika Chakraborty