Asian Markets Kickstart Week on a Positive Note

Indian Equity Markets Poised for Positive Start Amid Global Resilience

Indian equity markets are likely to open on a positive note on Friday, April 10, tracking firm cues from the GIFT Nifty and gains across most Asian markets. The fragile geopolitical backdrop in West Asia remains a concern, however. The GIFT Nifty was trading around 23,919, up 35 points or 0.15 percent, indicating a mildly higher start for benchmark indices.

Following a five-day gaining streak, domestic markets snapped back in the previous session. On April 9, the Sensex fell 931.25 points or 1.20 percent to close at 76,631.65, while the Nifty declined 222.25 points or 0.93 percent to 23,775.10. Selling in financial stocks and profit booking after the recent sharp rally dragged the indices lower.

Asian markets were trading higher in early deals on Friday, supporting sentiment. Japan's Nikkei gained about 1.6 percent, South Korea's Kospi rose over 2 percent, and Taiwan and Hong Kong indices advanced nearly 1 percent each. Broader Asia-Pacific indices also edged higher.

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Despite these gains, investors remained cautious due to concerns over the durability of the U.S.-Iran ceasefire. Fresh tensions emerged amid ongoing hostilities involving Israel and Lebanon, keeping risk appetite in check.

Crude oil prices edged higher again, adding to caution. Brent crude hovered near $96–97 per barrel, as markets weighed supply risks from continued disruptions around the Strait of Hormuz and recent attacks on energy infrastructure. The partial closure of the key shipping route has kept energy markets volatile, with implications for inflation and global growth.

Global equities showed resilience, with US markets ending higher overnight. The S&P 500 gained modestly, while futures were trading flat in early Asian hours, indicating a pause after recent gains.

Back home, market participants will watch whether the recent correction creates fresh buying opportunities, particularly after the sharp rally seen earlier in the week. The previous upmove had been driven by easing crude prices, short covering, and strong domestic institutional inflows.

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Overall, while the GIFT Nifty points to a positive start, the combination of rising crude prices, fragile geopolitical developments, and recent volatility in domestic markets suggests a cautious and potentially range-bound session ahead, with investors likely to remain selective.