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

Indian Equity Benchmarks Set for Weak Start on April 22

The Indian equity benchmarks, the BSE Sensex and Nifty 50, are poised to open on a weak note on April 22, tracking positive cues from GIFT Nifty, which is trading higher at around 24,400.

The Indian benchmark indices ended higher for the third consecutive session on April 21, supported by broad-based buying across sectors. The positive sentiment was fueled by reports of a second round of talks between the US and Iran, boosting hopes of a resolution to the ongoing conflict. At close, the Sensex was up 753.03 points or 0.96 percent at 79,273.33, and the Nifty was up 211.75 points or 0.87 percent at 24,576.60.

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GIFT Nifty, however, was trading lower at around 24,400, indicating a negative start for the Indian equity markets. Asian equities also edged lower at the open, as investors grappled with how long the Middle East conflict may continue. The MSCI Asia Pacific Index slipped 0.3%.

In the US, stocks closed lower on Tuesday, with early gains evaporating as renewed concerns about the Middle East war outweighed initial optimism over a round of solid corporate earnings. The Dow Jones Industrial Average fell 293.18 points, or 0.59%, to 49,149.38, the S&P 500 lost 45.13 points, or 0.63%, to 7,064.01 and the Nasdaq Composite lost 144.43 points, or 0.59%, to 24,259.96.

The dollar steadied in early Asian trade on Wednesday, as skepticism over U.S. President Donald Trump's announcement of an indefinite extension of a ceasefire with Iran lifted demand for the safe-haven currency, pushing it to a one-week high. The yield on 10-year Treasuries were down marginally at 4.28%, while yield on 2-year Treasuries were down 1 basis point at 3.76%.

Asian currencies were trading mixed in the early trade on Wednesday, with Malaysian Ringgit, Taiwan Dollar, Philippines Peso, Thai Baht, and China Renminbi trading lower, while Indonesian Rupiah, Singapore Dollar, and South Korean Won were trading with gains.

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Crude prices were down marginally in the early trade on Wednesday, while gold held a two-day decline after US President Donald Trump extended a ceasefire with Iran and plans for a fresh round of peace talks fell apart.

Foreign Institutional Investors (FIIs) extended their selling for the second consecutive session on April 21, offloading equities worth nearly Rs 2,000 crore. In contrast, Domestic Institutional Investors (DIIs) provided support to the market, purchasing equities worth over Rs 2,000 crore.