Indian stock market: 8 key things that changed for market overnight – Gift Nifty, India-US trade talks to CPI inflation | Stock Market News
Source: Live Mint
Indian stock market: The domestic equity market benchmark indices, Sensex and Nifty 50, are expected to open lower on Wednesday, following weakness in global markets as US tariffs woes continued to dent investor sentiment.
Asian markets traded lower, while the US stock market closed in the red overnight on tariff uncertainties.
On Tuesday, the Indian stock market ended with robust gains for the second consecutive session amid easing trade war jitters and a growing belief that India will remain relatively less impacted by US tariffs.
The Sensex jumped 1,577.63 points, or 2.10%, to close at 76,734.89, while the Nifty 50 settled 500.00 points, or 2.19%, higher at 23,328.55.
“Buoyancy across global equity markets provided major support to local benchmarks as recent developments suggest that there could be some solutions to the ongoing tariff war over next few weeks. However, falling crude oil prices and strong FII fund outflows continue to create a lot of uncertainty among the investors, leading to fears that falling demand could fuel recession in key economies,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
Here are key global market cues for Sensex today:
Asian Markets
Asian markets traded lower on Wednesday, following overnight losses on Wall Street, on tariff worries and ahead of China GDP data.
Japan’s Nikkei 225 fell 0.3%, while the Topix eased 0.05%. South Korea’s Kospi declined 0.2% and the Kosdaq lost 0.18%. Hong Kong’s Hang Seng index futures indicated a slightly weaker opening.
Gift Nifty Today
Gift Nifty was trading around 23,273 level, a discount of nearly 68 points from the Nifty futures’ previous close, indicating a weak start for the Indian stock market indices.
Wall Street
US stock market ended lower on Tuesday on tariff uncertainties, while upbeat results from banks provided some support.
The Dow Jones Industrial Average dropped 155.83 points, or 0.38%, to 40,368.96, while the S&P 500 fell 9.34 points, or 0.17%, to 5,396.63. The Nasdaq Composite closed 8.32 points, or 0.05%, lower at 16,823.17.
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Boeing stock price fell 2.4%, Ford shares declined 2.7%, while General Motors share price dropped 1.3%. Bank of America shares gained 3.6%. Nvidia stock price plunged 6.33% in after-hours trading.
India-US Trade Deal
India has decided to pursue a path of trade liberalisation with the United States, India’s trade secretary said, with the two countries signing the terms of reference for the first part of a bilateral trade deal. India and the US agreed in February to work on the first phase of a trade deal to be concluded late this year, with a view to reaching bilateral trade worth $500 billion by 2030.
CPI Inflation
India’s retail inflation eased in March to its slowest pace in over six years (since August 2019). Retail inflation, based on the Consumer Price Index (CPI), rose by 3.34% annually in March, lower than the 3.61% registered in February and 4.85% reported in the year-ago period.
Trade Deficit
India’s exports grew marginally by 0.7% to $41.97 billion in March, while the trade deficit stood at $21.54 billion in the month. Imports increased by 11.3% YoY to $63.51 billion in March. Cumulatively, during FY25, the country’s exports moved up by 0.08% to $437.42 billion, while imports climbed by 6.62% to $720.24 billion.
Gold Prices Today
Gold prices hit an all-time high, driven by a weaker dollar, trade war tensions and concerns over global economic growth. Spot gold price rallied 1.1% to $3,261.79 an ounce, after touching a record high of $3,266.65 per ounce earlier in the session. US gold futures surged 1.2% to $3,279.20.
Crude Oil Prices
Crude oil prices traded marginally higher as shifting US trade policies fuelled uncertainty. Brent crude oil prices gained 0.15% to $64.77 a barrel, while the US West Texas Intermediate (WTI) crude futures rose 0.15% to $61.42.
(With inputs from Reuters)
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