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

Market Update: Indian Equities Expected to Start Muted on April 17

The Indian equity benchmarks, the BSE Sensex and Nifty 50, are likely to see a muted start on April 17, following positive cues from the GIFT Nifty, which is trading flat at around 24,160.50.

In the previous session, the Indian equity indices failed to sustain opening gains and ended marginally lower in a volatile session on April 16. The Nifty slipped below the 24,200 mark, with the Sensex closing down 122.56 points or 0.16 percent at 77,988.68, and the Nifty down 34.55 points or 0.14 percent at 24,196.75.

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GIFT Nifty was trading at around 24,160.50, indicating a flat opening for the Indian equity markets. Asian stocks fell as investors lightened their positions ahead of the weekend, awaiting progress on extending the US-Iran ceasefire.

In the US, the benchmark S&P 500 and the tech-heavy Nasdaq rose modestly to record closing highs for a second straight day on Thursday, driven by optimism that the worst of the Middle East conflict had passed. The Dow Jones Industrial Average rose 115.00 points, or 0.24%, to 48,578.72, the S&P 500 gained 18.33 points, or 0.26%, to 7,041.28, and the Nasdaq Composite gained 86.69 points, or 0.36%, to 24,102.70.

The dollar Index was little changed in the early trade on Friday, while the yield on the benchmark 10-year and 2-year US bonds were also little changed at 4.31% and 3.77%, respectively. Asian currencies traded broadly lower in early Friday trade, led by losses in the Philippine Peso, followed by the Thai Baht, Japanese Yen, and Taiwan Dollar.

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Crude oil dropped as President Donald Trump struck an optimistic tone on prospects for a permanent ceasefire between the US and Iran. Gold trimmed gains as traders weighed the progress on a potential deal between the US and Iran, despite the effective closure of the strategic Strait of Hormuz.

Foreign Institutional Investors (FIIs) remained net buyers for the second consecutive session on April 16, purchasing equities worth ₹382 crore, while Domestic Institutional Investors (DIIs) extended their selling streak, offloading equities worth over ₹3,400 crore.