Indian stock market: 10 key things that changed for market overnight - Gift Nifty, Dow Jones rally to gold prices

Indian stock market: The domestic equity market benchmark indices, Sensex and Nifty 50, are expected to open lower on Tuesday following mixed global cues from global markets amid worries over Donald Trump’s reciprocal tariffs.

Asian markets traded higher, while the US stock market ended mixed overnight, with the S&P 500 and the Nasdaq Composite posting their worst quarterly performances since 2022.

In the first week of the new Financial Year 2025-2026, investors will monitor key stock market triggers, including Donald Trump’s reciprocal tariff announcements, flow of foreign funds, domestic and global macroeconomic data, auto sales data, and other global market cues.

The Indian stock market was shut on Monday, March 31, in observance of Eid-ul-Fitr.

On Friday, the Indian stock market ended lower on profit booking amid weak global cues.

The Sensex declined 191.51 points, or 0.25%, to close at 77,414.92, while the Nifty 50 settled 72.60 points, or 0.31%, lower at 23,519.35.

“Investors are awaiting fresh triggers for the next decisive move, while uncertainty surrounding tariff talks is limiting the upside. In the meantime, a stock-specific trading approach remains advisable. We continue to favor banking and financial stocks while recommending a selective approach in other sectors,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.

Here are key global market cues for Sensex today:

Asian Markets

Asian markets traded higher on Tuesday as overnight gains in Wall Street lifted investor sentiment.

Japan’s Nikkei bounced back from a near eight-month low hit in the previous session, and was up 1%, while the Topix rallied 1.34%. South Korea’s Kospi surged 1.03% while the Kosdaq gained 1.12%. Hong Kong’s Hang Seng index futures indicated a stronger open.

Gift Nifty Today

Gift Nifty was trading around 23,455 level, a discount of nearly 182 points from the Nifty futures’ previous close, indicating a gap-down start for the Indian stock market indices.

Wall Street

US stock market ended mixed on Monday amid uncertainty around the US President Donald Trump’s economic agenda.

The Dow Jones Industrial Average rallied 417.86 points, or 1%, to 42,001.76, while the S&P 500 gained 30.91 points, or 0.55%, to 5,611.85. The Nasdaq Composite closed 23.70 points, or 0.14%, lower at 17,299.29.

For the quarter, the S&P 500 slumped 4.6%, while the Nasdaq Composite plummeted 10.5%, and the Dow Jones Industrial Average slipped 1.3%.

Tesla stock price declined 1.67%, Nvidia share price fell 1.18%, while Apple stock price gained 1.94%. Discover Financial Services shares surged 7.5% and Capital One Financial share price rallied 3.3%.

Moderna stock plunged 8.9%, Taysha Gene Therapies shares dropped 28% and Solid Biosciences sank 14.4%. Rocket Companies share price declined 7.4%.

US Federal Reserve

New York Federal Reserve President John Williams said he cannot predict when the US central bank might change the current level of interest rates, keeping it in place “for some time” will allow officials to study incoming data and decide what they need to do next.

Russia-Ukraine Peace Deal

The Kremlin said that Russia and the United States were working on ideas for a possible peace settlement in Ukraine and on building bilateral ties. Donald Trump reiterated he was disappointed with Vladimir Putin but added: “I think we are making progress, step by step.”

Israel - Hamas War

The Israeli military said early on Tuesday that it attacked a Hezbollah militant in Beirut's southern suburbs, a few days after it had carried out a strike there, Reuters reported. “The strike targeted a Hezbollah terrorist who had recently directed Hamas operatives and assisted them in planning a significant and imminent terror attack against Israeli civilians,” the army added in a statement.

Japan Business Sentiment

Business sentiment among big Japanese manufacturers worsened in the three months to March, Reuters reported. The headline index measuring big manufacturers’ business confidence stood at 12 in March, down from 14 in December and matching a median market forecast, the BOJ’s closely watched “tankan” survey showed.

Dollar

The US dollar was steady as investors braced for reciprocal tariffs from President Donald Trump this week. The dollar index, which measures the US currency against six rivals, was 0.09% lower at 104.09. The Japanese yen was slightly stronger at 149.66 per dollar. Sterling was a tad firm at $1.29275, while the euro was steady at $1.082325.

Gold Prices

Gold prices rallied to a record high on worries that Trump’s reciprocal tariffs on all nations might fuel inflationary pressures and impede economic growth. Spot gold surged to a new high of $3,134.04 an ounce. US gold futures rose 0.3% at $3,160.00.

Crude Oil Prices

Crude oil prices fell on worries about the impact of a trade war on global growth. Brent futures fell 0.1% to $74.67 a barrel, while US West Texas Intermediate crude futures eased 0.1% to settle at $71.37.

(With inputs from Reuters)

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