Opening Bell: Nifty 50, Sensex Trade Higher as Oil Prices Fall Amid U.S.-Iran Negotiation Hopes; Asia Markets Decline

The Indian stock market benchmark indices, Nifty 50 and Sensex, were trading marginally higher as crude oil prices extended their decline amid optimism over progress in negotiations between the U.S. and Iran.

Asian markets traded mostly lower as investors reduced their exposure to technology stocks ahead of earnings reports from major companies, including Amazon, Meta Inc, and Apple Inc. South Korea’s Kospi witnessed a sharp decline of 8.04 per cent after SK Hynix shares plunged 10 per cent.

Japan’s Nikkei 225 declined 3.84 per cent, while Australia’s S&P ASX 200 slipped 0.23 per cent as broader market sentiment remained cautious across the Asia-Pacific region.

In the U.S. markets, the Nasdaq Composite ended 0.18 per cent lower in the overnight session. Meanwhile, the Dow Jones Industrial Average gained 0.51 per cent, and the S&P 500 closed marginally higher by 0.02 per cent.

Crude oil prices continued to weaken as investors remained hopeful of a possible diplomatic solution between the U.S. and Iran. U.S. President Donald Trump said discussions with Tehran were progressing well but warned that Washington could take military action if negotiations failed. Iran also indicated a willingness to continue discussions.

July futures of crude oil were trading at USD 87.52 per barrel on the International Continental Exchange, down 0.95 per cent.

Meanwhile, precious metals also witnessed selling pressure. Gold futures declined 0.67 per cent, while silver futures fell 1.79 per cent.

Disclaimer: The article is for informational purposes only and not investment advice.