Global Markets Preview: Key Indicators to Watch During Today's Trading Session

Indian Equity Benchmarks Anticipate Flat to Negative Start on April 7

The Indian equity benchmarks, the BSE Sensex and Nifty 50, are likely to see a flat to negative start on April 7, tracking losses in GIFT Nifty, which was trading around the 22,966 level. The GIFT Nifty is a key indicator of the Indian equity market's performance.

Volatile Session Ends with Gains

The Indian benchmark indices ended with a gain of more than 1 percent in a volatile session, extending their gains for the third straight day, with the Nifty finishing near the 23,000 mark amid buying seen across sectors, barring media and oil & gas. At close, the Sensex was up 787.30 points or 1.07 percent at 74,106.85, and the Nifty was up 255.15 points or 1.12 percent at 22,968.25.

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Global Markets

Asian markets were trading higher in the early Tuesday, tracking Wall Street gains, as traders continued to assess Iran war-related developments. The US stocks advanced on Monday as investors looked for signs of progress toward a U.S.-Iran ceasefire deal and evaluated President Donald Trump's progressively heated threats of escalation should Iran fail to reopen the Strait of Hormuz.

The Dow Jones Industrial Average rose 165.21 points, or 0.36%, to 46,669.88, the S&P 500 gained 29.33 points, or 0.45%, to 6,612.02, and the Nasdaq Composite gained 117.16 points, or 0.54%, to 21,996.34.

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Currency and Commodities

The dollar stood just shy of recent highs on Tuesday as traders counted down to a U.S.-imposed deadline for Iran to open the Persian Gulf to shipping or face attacks on its infrastructure. The yield on the U.S. 10-year Treasury and the 2-year U.S. Treasury down marginally at 4.32% and 3.83%, respectively. Among Asian currencies, except for the China Renminbi, all other currencies were trading lower in the early Tuesday trade. Oil prices extended gains on Tuesday as U.S. President Donald Trump heightened his rhetoric against Iran, threatening stronger action if the country fails to reopen the Strait of Hormuz, a key global oil transit chokepoint. Gold steadied after a two-day decline, as traders weighed US President Donald Trump's latest threat to destroy Iranian infrastructure and the impact of a protracted war on inflation and economic growth.

Fund Flow Action

Foreign Institutional Investors (FIIs) continued their selling on April 6, as they offloaded equities worth ₹8167 crore. On the other hand, Domestic Institutional Investors (DIIs) bought equities worth over ₹8,000 crore.