Indian Benchmark Indices Likely to Open Positive on Thursday Following Global Market Rally
As of 7:31 am, GIFTY Nifty was trading around the 24,700 level, a premium of nearly 63 points over the previous close of Nifty futures, indicating a firm start for the domestic markets.
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Pre-Market Update at 7:50 AM: India’s benchmark indices, the Sensex and Nifty 50, are likely to begin Thursday’s session on a positive note, tracking a strong rally in global markets amid reports of confidential diplomatic efforts by Iran to initiate talks aimed at ending the war.
As of 7:31 am, GIFTY Nifty was trading around the 24,700 level, a premium of nearly 63 points over the previous close of Nifty futures, indicating a firm start for the domestic markets. Asian markets posted sharp gains, while U.S. equities ended higher overnight, led by technology stocks.
Tensions in the Middle East have intensified, with the United States and Israel stepping up coordinated military operations targeting Iranian power assets. U.S. Defence Secretary Pete Hegseth confirmed that an Iranian naval vessel was sunk in international waters, marking a significant escalation in the conflict.
The U.S. dollar paused its recent rally. The dollar index eased to 98.78 against a basket of major currencies, retreating from a more than three-month high touched earlier this week.
China has set its 2026 economic growth target in the range of 4.5 per cent to 5 per cent, slightly lower than last year’s 5 per cent expansion and its most modest growth goal since 1991. The country plans to maintain its budget deficit at around 4 per cent of GDP this year, matching the record level seen in 2025.
Sammaan Capital and SAIL will remain in the F&O ban list for March 5.
On March 4, Foreign Institutional Investors (FIIs) were net sellers, offloading equities worth Rs 8,752.65 crore. Domestic Institutional Investors (DIIs) were net buyers, purchasing shares worth Rs 12,068.17 crore. FIIs have remained net sellers for the past four consecutive trading sessions.
On Wednesday, Indian markets extended losses as escalating U.S.–Israel clashes with Iran pushed oil prices to a 19-month high, raising concerns of a prolonged conflict. The Sensex fell 1,122.66 points, or 1.40 per cent, to close at 79,116.19, while the Nifty 50 declined 385.20 points, or 1.55 per cent, to settle at 24,480.50.
U.S. equities ended higher on Wednesday, led by technology stocks. The Dow Jones Industrial Average rose 238.14 points, or 0.49 per cent, to 48,739.41. The S&P 500 advanced 52.87 points, or 0.78 per cent, to close at 6,869.50, while the Nasdaq Composite climbed 290.79 points, or 1.29 per cent, ending at 22,807.48.
Nvidia gained 1.66 per cent, AMD jumped 5.82 per cent, Microsoft added 0.31 per cent, Amazon rallied 3.88 per cent, and Tesla surged 3.44 per cent, while Apple slipped 0.47 per cent. In the energy space, Exxon Mobil declined 1.3 per cent and ConocoPhillips fell 2.42 per cent. Moderna shares soared 16 per cent during the session.
Private sector hiring in the U.S. recorded its strongest growth in seven months in February, according to ADP’s national employment report. Employers added 63,000 jobs during the month, the biggest increase since July 2025, following a downwardly revised gain of 11,000 jobs in January.
Gold prices rose as the dollar weakened and the Middle East war entered its sixth day without signs of resolution. Spot gold gained 0.6 per cent to USD 5,172 per ounce, while silver rose 0.88 per cent to USD 84.27 per ounce. Crude oil prices climbed amid supply concerns, with Brent crude rising 0.63 per cent to USD 82 per barrel and U.S. West Texas Intermediate (WTI) crude futures gaining 0.88 per cent to USD 75.83 per barrel.
Disclaimer: The article is for informational purposes only and not investment advice.