Indian stock market: 8 key things that changed for market overnight - Gift Nifty, Trump-Powell tensions to gold prices

Indian stock market: The domestic equity market benchmark indices, Sensex and Nifty 50, are expected to open lower on Tuesday following losses in global markets.

Asian markets traded lower, while the US stock market slipped overnight after US President Donald Trump’s attacks on Federal Reserve Chairman Jerome Powell dented sentiment.

On Monday, the Indian stock market extended the rally for the fifth consecutive session led by across-the-board buying.

The Sensex jumped 855.30 points, or 1.09%, to close at 79,408.50, while the Nifty 50 settled 273.90 points, or 1.15%, higher at 24,125.55.

“Nifty 50 closed above its 200-DMA at 24,051, signaling bullish momentum. The ongoing US-China trade tariff war could work in India’s favour, acting as a key positive catalyst. Our view of ‘Buy on dips’ remains the strategy, as bullish consolidation looks likely,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Here are key global market cues for Sensex today:

Asian Markets

Asian markets fell on Tuesday, following overnight losses on Wall Street. Japan’s Nikkei 225 declined 0.4% and the Topix fell 0.2%. South Korea’s Kospi fell 0.34% and the Kosdaq was marginally lower. Hong Kong’s Hang Seng index futures indicated a slightly weaker opening.

Gift Nifty Today

Gift Nifty was trading around 24,083 level, a discount of nearly 52 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.

Wall Street

The US stock market ended sharply lower on Monday as investors were rattled after President Trump’s continued attacks on the Federal Reserve chair Jerome Powell and the central bank’s monetary policy.

The Dow Jones Industrial Average declined 971.82 points, or 2.48%, to 38,170.41, while the S&P 500 slipped 124.50 points, or 2.36%, to 5,158.20. The Nasdaq Composite closed 415.55 points, or 2.55%, lower at 15,870.90.

Nvidia stock price declined 4.5%, Microsoft share price fell 2.35%, Amazon shares dropped 3.11%, while Apple stock price fell 1.94%. Tesla share price plunged 5.8%. FIS shares gained 2.4%.

Trump on Fed Chair

The US economy could slow down unless interest rates are lowered immediately, President Donald Trump said, repeating his criticism of Federal Reserve Chair Jerome Powell. “With these costs trending so nicely downward, just what I predicted they would do, there can almost be no inflation, but there can be a SLOWING of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW,” Trump said in a post on Truth Social.

RBI Eases LCR Norms

The Reserve Bank of India (RBI) eased the Liquidity Coverage Ratio (LCR) norms, directing lenders to assign a lower-than-proposed buffer rate of 2.5% on digitally linked deposits, with a one-year compliance deadline. The net impact of these measures will improve banks’ liquidity coverage ratio as on December-end by around 6 percentage points.

Core Sector Data

The combined Index of Eight Core Industries (ICI) increased by 3.8% (provisional) in March 2025 as compared to the Index in March 2024. The cumulative growth rate of ICI from April to March, 2024-25 is 4.4% (provisional) as compared to the corresponding period of last year.

Gold Prices

Gold prices held their record rally on Tuesday amid fears that trade tensions could stall economic growth, driving demand for safe-haven assets.

Spot gold rose 0.1% to $3,429.03 an ounce, after touching a record high of $3,443.79 per ounce earlier in the session. US gold futures firmed 0.4% to $3,439.70.

Dollar

The dollar languished near its lowest level in three years, Reuters reported. The US dollar index measure against six major peers stood at 98.454, after sinking as low as 97.923 in the previous session, a level not seen since March 2022.

(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.