Market Update

The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open lower on Thursday, tracking mixed cues from global markets, as optimism over the US-Iran ceasefire faded and investors remained cautious on further escalation of the conflict. The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 23,973 level, a discount of nearly 84 points from the Nifty futures’ previous close. On Wednesday, the Indian stock market ended sharply higher led by the US-Iran ceasefire deal announcement, with the benchmark Nifty 50 closing near 24,000 level. The Sensex rallied 2,946.32 points, or 3.95%, to close at 77,562.90, while the Nifty 50 settled 873.70 points, or 3.78%, higher at 23,997.35.