Indian stock market: 7 key things that changed for market overnight – Gift Nifty, Trump tariffs to gold prices

Indian stock market: The domestic equity market benchmark indices, Sensex and Nifty 50, are expected to open higher on Tuesday amid cautiousness, following gains in global markets.

Asian markets traded higher, while the US stock market rallied overnight, led by AI-related stocks.

On Monday, the Indian stock market ended lower amid heavy selling pressure, extending losses for the fourth consecutive session.

The Sensex dropped 548.39 points, or 0.70%, to close at 77,311.80, while the Nifty 50 settled 178.35 points, or 0.76%, lower at 23,381.60.

“Markets displayed pessimism since early trades as stocks crumbled amid subdued corporate earnings and the ongoing uncertainty over global tariff war. With the rupee showing no signs of cooling off, foreign investors have continued to take the exit route in order to invest in safe haven US financial assets, thus weighing heavily on market sentiment. As valuations remain expensive, mid & small cap stocks continue to take hammering,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Here are key global market cues for Sensex today:

Asian Markets

Asian markets traded higher on Tuesday, tracking overnight rally on Wall Street.

Japan markets were closed for a holiday. South Korea’s Kospi gained 0.36%, while the Kosdaq was flat. Hong Kong’s Hang Seng index futures indicated a slightly stronger opening.

Gift Nifty Today

Gift Nifty was trading around 23,471 level, a premium of nearly 12 points from the Nifty futures’ previous close, indicating a mildly positive start for the Indian stock market indices.

Wall Street

US stock market ended higher on Monday, led by AI-related stocks and steelmakers.

The Dow Jones Industrial Average gained 0.38% to 44,470.41, while the S&P 500 rose 0.67% to end at 6,066.44. The Nasdaq closed 0.98% higher at 19,714.27.

Nvidia shares gained 2.9%, Broadcom share price rallied 4.5%, Amazon stock price added 1.7%, while Tesla shares fell 3%.

Nucor, US Steel and Steel Dynamics surged more than 4% each. Cleveland-Cliffs stock price jumped 18%, Century Aluminum share price rallied 10% and Alcoa rose about 2%. McDonald’s shares jumped 4.8% and Rockwell Automation surged 12.6%.

Trump raises tariffs on Aluminum, Steel imports

US President Donald Trump substantially raised tariffs on steel and aluminum imports to a flat 25% “without exceptions or exemptions”. The tariff rate will rise back to 25% on millions of tons of steel and aluminum imports from Canada, Brazil, Mexico, South Korea and other countries that had been entering the US duty free under the carve-outs.

Gold Price Today

Gold prices soared to a record high on Tuesday, amid safe-haven demand. Spot gold rose 0.4% to $2,919.90 per ounce, after hitting a record high of $2,921.15 earlier in the session. US gold futures rose 0.3% to $2,944.40.

Dollar

The US dollar rose for a third-straight session on Monday after President Trump warned of more tariffs. The dollar index, which measures the greenback against a basket of currencies, advanced 0.2% to 108.30, with the euro off 0.18% at $1.0308.

Oil Prices

Crude oil prices traded higher after the biggest advance in almost four weeks. Brent crude oil rallied 1.62% to $75.87 a barrel, while the US West Texas Intermediate (WTI) crude futures rose 0.07% to $72.37.

(With inputs from Reuters)

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