Overnight Stock Market Movements: Key Developments 

India’s benchmark indices, the Sensex and Nifty 50, are set to open higher on Wednesday, recovering from the sharp decline in the previous session amid strength in overnight global markets.

Asian markets rallied, and US equities closed higher overnight, driven by strong gains in technology stocks.

However, on Tuesday, broad-based selling dragged the Indian stock market sharply lower as fears of AI-led disruption unsettled global investor sentiment.

Domestic Market Recap

On Tuesday, Indian indices closed in the red:

• Sensex crashed by 1,068.74 points (1.28%) to close at 82,225.92
• Nifty 50 moved down by 288.35 points (1.12%) to settle at 25,424.65

Gift Nifty

Gift Nifty was trading near 25,672, around 72 points higher than the previous Nifty futures close, hinting at a positive start for Indian markets.

Overnight Wall Street Performance

The US stock market closed higher on Tuesday, led by gains from the software stocks. 

• The Dow Jones Industrial Average gained by 370.44 points (0.44%) to close at 49,174.50.
• S&P 500 up by 52.32 points (0.77%), ending at 6,890.07.
• The Nasdaq Composite was higher by 236.41 points (1.05%), finishing at 22,863.68.

Crude Oil Prices

• Brent crude gained by 0.83% to $71.36/barrel
• US West Texas Intermediate (WTI) crude was trading 0.84%higher at $66.19/barrel

Overnight Major Global Events Driving Sentiment

1. Meta–AMD Deal: Advanced Micro Devices has agreed to sell up to $60 billion worth of AI chips to Meta Platforms over the next five years. The agreement also allows Meta, which is the parent company of Facebook, to acquire up to a 10% stake in the chipmaker as part of the deal.
2. US–Iran Tensions: The US has launched its largest military buildup in the Middle East since the second Gulf War in 2003, deploying two aircraft carriers to the region. According to CNN, which cited a defence official, the US is further strengthening its presence by sending 12 stealth F-22 fighter jets to Israel.

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