GIFT Nifty down, signals weak start for Sensex, Nifty even as Asian markets rally, Brent crude falls below…

As per the latest business developments, Indian key market indices are likely to open with moderate losses on Wednesday, with GIFT Nifty pointing to a soft opening after the Nifty snapped a four-session winning streak in the previous session. Firm Asian markets and Brent crude slipping below $100 a barrel provide a supportive backdrop, although persistent foreign institutional selling could keep domestic sentiment wary.

GIFT Nifty was trading at 23,345 around 8 am, down 55 points, or 0.24 percent. Indian equities ended softer in a volatile session on Tuesday, snapping a four-day winning run. The Sensex declined 329.91 points, or 0.44 percent, to 74,529.08, while the Nifty declined 85.30 points, or 0.36 percent, to 23,329. IT, PSU bank and oil & gas stocks were among the key laggards.

Global cues are more constructive ahead of Wednesday's opening, with technology stocks driving a sixth straight day of upside in Asian equities, the Nasdaq closing at another record high and oil price marks extending their slide amid signs of improving Middle East supply.

Share Markets Live Updates | Sensex, Nifty, GIFT Nifty Today

Asian markets extend surge as AI stocks gain; Brent slips below $100 as Saudi supply returns

Asian equities advanced on Wednesday as continued optimism around artificial intelligence supported technology stocks. MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.7 percent, extending its winning streak to six sessions. South Korean equities advanced 1.2 percent, while Taiwan advanced 0.9 percent and traded near record highs. Chinese blue-chip stocks were little changed. Japanese cash markets remained closed for a holiday, although Nikkei futures traded sharply above the index's Friday closing level.

Oil price marks edged softer on Wednesday, with Brent falling below $100 a barrel as Saudi Arabia began restoring supplies through a key pipeline and market participants watched for progress towards a diplomatic resolution of the US-Iran conflict. Brent crude futures declined 0.07 percent to $99.18 a barrel, while West Texas Intermediate declined 0.39 percent to $90.17.

Saudi Arabia has restarted operations at its East-West Pipeline and may have resumed exports through the Red Sea port of Yanbu. Expectations of potential diplomatic progress through talks at the United Nations in New York additionally helped ease some concerns over Middle East supply.

Nasdaq hits second straight record high

US equities ended mixed on Tuesday, but technology stocks continued to outperform as enthusiasm around artificial intelligence supported Micron Technology and other AI-related names. Continued resilience in US technology shares has spilled over into Asian markets, helping offset some of the concerns surrounding global interest rates and geopolitical risks.

The Nasdaq Composite advanced 0.45 percent to 27,244.28, marking its second consecutive record closing high. The S&P 500 finished almost unchanged at 7,764.64, remaining just below record territory, while the Dow Jones Industrial Average declined 0.36 percent to 51,863.69.

FIIs sell Rs 3,800 crore; DIIs step up buying

Foreign institutional market participants remained net sellers in Indian equities for a second consecutive session on Tuesday, offloading shares worth Rs 3,800 crore. Domestic institutional market participants continued to absorb the selling, purchasing equities worth Rs 4,120 crore during the session. The sharp FII outflow could stay a near-term headwind even as domestic institutional demand provides backing.