Gift Nifty, US-Iran war, crude oil prices to India inflation: 10 things that changed for Indian stock market overnight

The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open lower on Tuesday, following weakness in global markets, as the escalation US-Iran war lifted crude oil prices, dampening investor sentiment.

Asian markets traded mixed, while the US stock market ended lower, weighed down by selloff in chip stocks.

On Monday, the Indian stock market indices ended flat with a positive bias amid high volatility as crude oil prices remained elevated on escalating US-Iran war.

The Sensex rose 47.01 points, or 0.06%, to close at 77,616.40, while the Nifty 50 settled 4.10 points, or 0.02%, higher at 24,211.00.

“Indian markets demonstrated resilience despite challenging global cues, reflecting continued support from domestic fundamentals. Indian equities are expected to maintain a gradual uptrend, with the Q1FY27 earnings season likely to be the key catalyst for sectoral and stock-specific action limiting downside. Volatility, however, is likely to remain elevated amid evolving geopolitical developments in West Asia,” said Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.

Asian markets traded mixed on Tuesday as rising oil prices amid the US-Iran war weighed on sentiment. Japan’s Nikkei 225 fell 0.01%, while the Topix rose 0.30%. South Korea’s Kospi gained 2.22% and the Kosdaq fell 1.34%. Hong Kong’s Hang Seng Index futures indicated a lower opening.

Gift Nifty was trading around 24,049 level, a discount of nearly 193 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.

US stock market ended lower on Monday as the latest escalation of the Middle East war sent oil prices jumping and dampened risk appetite.

The Dow Jones Industrial Average fell 138.31 points, or 0.26%, to 52,498.70, while the S&P 500 declined 59.92 points, or 0.79%, to 7,515.47. The Nasdaq Composite closed 408.43 points, or 1.55%, lower at 25,873.18.

Nvidia stock price plunged 3.52%, AMD shares tanked 4.21%, Broadcom shares shed 3.98%, Intel share price slipped 6.12%, Micron Technology stock price dropped 4.32%, Microsoft shares gained 1.53%, Meta shares fell 1.86%, Alphabet shares declined 1.23%, Tesla stock price cracked 3.19%, and SpaceX shares slipped 4.24%.

US President Donald Trump has formally informed lawmakers that the country is once again at war with Iran, giving his administration 60 days to use the military in the region without congressional approval. Meanwhile, Iran-backed Houthis in Yemen said they launched missile and drone attacks targeting Saudi Arabia’s Abha airport.

India’s retail inflation rose to 4.38% in June compared to 3.93% in May, mainly due to higher prices of food items. Inflation, as measured by the Consumer Price Index (CPI), exceeded the median estimate of 4.2% forecast by 18 economists in a Mint poll.

India’s merchandise trade deficit widened to a five-month high of $30.43 billion in June, compared with a deficit of $28.21 billion in the previous month. Including services, India’s total exports rose 9.5% to $73.45 billion in June from $67.09 billion a year ago, while total imports rose 26.8% to $88.76 billion from $69.98 billion, taking the overall trade deficit to $15.32 billion, compared with $2.89 billion in June 2025.

HCL Technologies’ Q1FY27 net profit rose 3.03% QOQ to ₹4,624 crore, while revenue grew 1.8% QoQ to ₹34,579 crore. Revenue in dollar terms fell 0.87% to $3,650 million. EBIT increased 3.8% to 5,831 crore, while EBIT margin improved to 16.86% from 16.50, QoQ.

The IT major has retained its revenue growth guidance of 1-4% YoY in constant currency terms for FY27, and also kept its operating margin guidance of 17.5% to 18.5% for the full year.