Stock Market Update: Nifty 50, Sensex Likely to Have a Gap-up Open Amid Easing Tensions in West Asia

The Indian Stock Market is expected to open on a positive note as US President Donald Trump announced a ceasefire for two weeks. The pause hinges on Iran’s willingness to open the Strait of Hormuz. GIFT Nifty also shows a sharp gap-up open. It is trading at 23,807.5 with a 670-point premium from its previous Nifty futures close. 

On Tuesday, Indian benchmarks extended their rally for the fourth consecutive session. The Sensex rose 509.73 points or 0.69% to close at 74,616.58, while Nifty 50 advanced 155.40 points or 0.68% to settle at 23,123.65.

On the sectoral front, most indices on the NSE closed in the green, except the Nifty PSU Bank index, which declined by 0.71%. The Nifty IT index led the rally with gains of over 2%, followed by Nifty Metal, which rose by 1.55%. Nifty FMCG advanced by 0.82%, while Nifty Media gained 0.80%. 

Sensex Outlook

Technically, the Sensex formed a large-bodied green candle with a long lower shadow, continuing its rally for the third consecutive session.

The support for the index is seen at the 74,000-74,200 zone, which will likely act as a demand area on any declines.

Immediate resistance is seen at 75,000 -75,300; upside may face supply and profit booking pressure.

Nifty 50 Outlook

Nifty 50 formed a long bullish candle with a lower shadow on the daily chart, continuing its positive trend after the previous week's lows.

Immediate support is at 22,900; a break below this level may trigger a short pullback toward 22,700. As long as the index sustains above 22,900-23,000 levels, the bullish structure will remain intact.

On the upside, 23,200-23,300 will act as the immediate hurdle; a break above this zone will attract fresh buying momentum and extend the ongoing rally.

Bank Nifty Outlook

On Tuesday, the Bank Nifty rose 107.15 points or 0.20% to close at 56,716.25, forming a bullish candle on the daily chart with a small lower shadow.

Immediate resistance can be seen at 53,100-53,200; a sustained move above this zone may take the index toward 53,500, followed by 53,800.

On the downside, the 52,300-52,200 zone will likely act as an immediate support.

Also Read: US Stock Market Today: S&P 500, NASDAQ Drop as Trump’s Iran Deadline Lifts Oil and Treasury Yields

Crude Oil Prices Decline 

Crude oil prices dropped sharply amid easing tensions in the Middle East. West Texas Intermediate (WTI) crude futures fell around 14% to $97.49 per barrel, slipping below the key $100 mark. 

Brent crude futures dropped 13% to $95.63 per barrel, while COMEX crude prices also experienced major corrections.