Indian stock market: 8 key things that changed for market overnight - Gift Nifty, Trump tariffs, IIP data to oil prices

By Admin

29 Apr, 2025

As the Indian stock market prepares for Tuesday's trading session, a mix of global cues, domestic developments, and macroeconomic indicators set the tone for a potentially cautious start. From movements in Gift Nifty to fresh updates on US tariffs, here are the eight major changes that are expected to influence the markets today:

1. Flat Start Indicated by Gift Nifty

Gift Nifty was trading around the 24,469 level, reflecting a premium of nearly 16 points over the previous close of Nifty futures. This suggests a flat to mildly positive start for Indian benchmark indices, Sensex and Nifty 50.

2. Strong Gains on Monday Fuel Optimism

Indian markets ended Monday on a high note. The Sensex jumped 1,005.84 points (1.27%) to close at 80,218.37, while the Nifty 50 rose 289.15 points (1.20%) to settle at 24,328.50. This rally was driven by broad-based buying and positive sentiments across sectors.

Ajit Mishra, SVP of Research at Religare Broking, remarked, “The buoyancy is certainly encouraging; however, participants should maintain a positive yet cautious bias, given the lingering geopolitical tensions. A breakout above 24,400 could ignite fresh momentum in the Nifty 50, potentially pushing it toward the 24,800 mark.”

3. Mixed Global Cues

While Asian markets traded higher on Tuesday—helped by optimism surrounding trade negotiations—US markets closed mixed on Monday.

• Dow Jones: +114.09 points (0.28%)
  
  

• S&P 500: +3.54 points (0.06%) – fifth consecutive gain
  
  

• Nasdaq: -16.81 points (-0.10%)
  
  

Investors are awaiting key tech earnings and economic data this week. Nvidia slipped 2.1%, while Boeing and Spirit AeroSystems rose 2.4% and 2.6%, respectively.

4. Progress on US Tariffs

US Treasury Secretary Scott Bessent noted that several countries, including India, have made “very good” proposals to avoid American tariffs. China’s easing of some retaliatory tariffs also signals de-escalation in global trade tensions. This could be a positive for emerging markets like India.

5. Weak IIP Data Dampens Outlook

India’s industrial production growth for March stood flat at 3%, down from 5.5% YoY. In FY25, the Index of Industrial Production (IIP) decelerated to a four-year low of 4%, primarily due to poor performance in manufacturing, mining, and power.

6. Gold Loses Shine

Easing global tensions reduced gold’s appeal as a safe haven.

• Spot gold dropped 0.3% to $3,332.99/oz
  
  

• US gold futures fell 0.1% to $3,343.20/oz
  
  

This could impact investor behavior toward commodity-linked stocks and ETFs.

7. Oil Prices Slide

Crude oil declined as global demand expectations weakened amid trade uncertainties:

• Brent crude: -0.4% to $65.61/barrel
  
  

• WTI crude: -0.3% to $61.87/barrel
  
  

This dip may bring relief to oil-importing countries like India and improve trade balance.

8. US Dollar Steadies After Losses

After a 0.6% fall, the US dollar index stabilized at 99.079. Key currency movements include:

• USD/JPY: +0.11% at 142.19
  
  

• USD/CHF: +0.18% at 0.8217
  
  

• EUR/USD: -0.15% at 1.1404
  
  

• GBP/USD: near $1.3427
  
  

Forex-sensitive sectors and FII flows may respond accordingly.

Conclusion

While Monday’s rally brought a wave of optimism to Dalal Street, today's session might open on a quieter note given the mixed global environment and flat cues from Gift Nifty. However, investors should stay watchful of macro indicators and sectoral trends. With a potential breakout point near 24,400, the Nifty 50 could see renewed momentum if global and domestic factors align favorably.

Stay tuned to market developments and position your investments wisely.