Indian stock market: 7 key things that changed for market overnight- Gift Nifty, Trump’s tariff exemptions to gold price

Indian stock market: The domestic equity market benchmark indices, Sensex and Nifty 50, are expected to open higher on Tuesday, following a rally in global markets, after the US exempted smartphones and computers from new tariffs.

Asian markets traded higher, while the US stock market rallied overnight, led by technology stocks.

On Monday, the trading on BSE and NSE was shut as the Indian stock market was closed on account of Ambedkar Jayanti 2025.

On Friday, the Indian stock market skyrocketed after US President Donald Trump declared a 90-day pause on 26% tariffs imposed on India.

The Sensex jumped 1,310.11 points, or 1.77%, to close at 75,157.26, while the Nifty 50 settled 429.40 points, or 1.92%, higher at 22,828.55.

“The Trump government’s decision on not to impose any import tariffs on any nations for another 90-days provided a sigh of relief to investors that fuelled short covering. However, intra-day volatility with a negative bias is expected to make a comeback as China hitting back with 125% tariffs on US imports could trigger a sell-off going ahead,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Here are key global market cues for Sensex today:

Asian Markets

Asian markets traded higher on Tuesday following overnight rally on Wall Street led by technology stocks after Trump’s tariff exemptions on smartphones and computers.

Japan’s Nikkei 225 rallied 1.15%, while the Topix surged 1.16%. South Korea’s Kospi gained 0.39% while the Kosdaq fell 0.32%. Hong Kong’s Hang Seng index futures also indicated a stronger open.

Gift Nifty Today

Gift Nifty was trading around 23,305 level, a premium of nearly 387 points from the Nifty futures’ previous close, indicating a gap-up start for the Indian stock market indices.

Wall Street

US stock market ended higher on Monday led by tech stocks after the White House exempted smartphones and computers from new tariffs.

The Dow Jones Industrial Average rallied 312.08 points, or 0.78%, to 40,524.79, while the S&P 500 gained 42.61 points, or 0.79%, to 5,405.97. The Nasdaq Composite ended 107.03 points, or 0.64%, higher at 16,831.48.

Apple share price surged 2.2%, Dell Technologies shares rallied 4% and HP stock price gained 2.5%. Nvidia share price fell 0.2% and Amazon shares declined 1.49%.

US Tariff Exemptions

The US government has granted tariff exclusions for smartphones, computers and other electronics imported largely from China. Trump’s action also excludes the specified electronics from his 10% “baseline” tariffs on goods from most countries other than China, easing import costs for semiconductors from Taiwan and Apple iPhones produced in India.

US Federal Reserve

Atlanta Federal Reserve Bank President Raphael Bostic said on Monday the fog of uncertainty over the Trump administration's tariff and other policies has put the economy into a “big pause” where households and businesses aren't making big investments, and suggested the US central bank should stay on hold until there is more clarity, Reuters reported.

Gold Prices

Gold prices traded higher amid continued uncertainty over Trump’s tariff plans and their impact on the global economy. Spot gold rose 0.1% to $3,211.49 an ounce. Bullion hit a record high of $3,245.42 in the previous session. US gold futures gained 0.1% to $3,227.90.

Crude Oil Prices

Crude oil prices rose led by new tariff exemptions and a rebound in China crude oil imports in anticipation of tighter Iranian supply. Brent crude futures gained 0.42% to $65.15 per barrel, while US West Texas Intermediate crude rose 0.42% to $61.79.

(With inputs from Reuters)

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.