Global Market Outlook: Key Indicators to Monitor in Today's Trading Session

Indian Equity Markets Set for Gap-Up Start on April 8

The Indian equity benchmarks, the BSE Sensex and Nifty 50, are likely to see a gap-up start on April 8, following gains in the GIFT Nifty, which was trading around the 23,863.50 level as of the last update.

In the previous session, the Indian equity indices ended higher, extending their gains for the fourth consecutive session, with the Nifty closing above 23,100. This was supported by buying in the IT, media, metal, and realty sectors. At close, the Sensex was up 509.73 points or 0.69 percent at 74,616.58, and the Nifty was up 155.40 points or 0.68 percent at 23,123.65.

Global Markets Update

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Asian markets were trading higher on Wednesday after US President Donald Trump said he had agreed to suspend planned attacks on Iranian infrastructure for two weeks. US stocks ended mixed on Tuesday amid signs of progress in negotiations as the minutes ticked down to President Donald Trump's deadline for Iran to open the Strait of Hormuz.

The dollar sank to its lowest level in two weeks at the start of trading in Asia on Wednesday, while the euro, yen, Aussie, and kiwi rallied hard after U.S. President Donald Trump said he had agreed to a two-week ceasefire with Iran. The yield on the U.S. 10-year Treasury and the 2-year U.S. Treasury slipped 4 basis points and 7 basis points at 4.24% and 3.71%, respectively.

In the currency markets, except for the Indonesian Rupiah, all other currencies traded higher in early Wednesday trade, led by gains in the South Korean Won, followed by the Philippine Peso and Thai Baht. Oil prices dived on Wednesday after a two-week ceasefire in the Middle East spurred a relief rally as investors cheered the possible resumption of oil and gas flowing through the Strait of Hormuz.

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Gold extended gains on Wednesday as markets reassessed near-term risks after U.S. President Donald Trump said he had agreed to suspend bombing and attacks on Iran for two weeks, easing fears of energy-driven inflation. Foreign Institutional Investors (FIIs) sold equities worth ₹8692 crore on April 7, while Domestic Institutional Investors (DIIs) purchased equities of nearly ₹8,000 crore.