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

Indian Equity Benchmarks Poised for Strong Opening

The Indian equity benchmarks, BSE Sensex and Nifty 50, are expected to kick off the week on a positive note, driven by favorable cues from the GIFT Nifty, which is trading at around 24,094.

The Indian benchmark indices faced significant selling pressure on April 24, extending losses for the third consecutive session. The Nifty slipped below the 23,900 mark, with broad-based weakness across sectors led by IT stocks. At the close, the Sensex was down 982.71 points or 1.27 percent at 76,681.29, while the Nifty was down 275.10 points or 1.14 percent at 23,897.95.

Asian Markets Mostly Higher

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Asian markets were mostly higher on Monday, with investors choosing to look past renewed diplomatic setbacks between the U.S. and Iran. Despite escalating tensions in the Middle East, oil prices remained elevated. The Indian equity markets are likely to benefit from this positive sentiment.

U.S. Equities Close at Record Highs

The S&P 500 and Nasdaq closed at record highs on Friday, driven by optimism for possible negotiations between the U.S. and Iran to end their war. The surge in Intel shares also extended the rally in semiconductor stocks. The key statistics for the U.S. equities are as follows:

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For the week, the S&P 500 gained 0.55%, the Nasdaq rose 1.5%, and the Dow fell 0.44%.

Currency and Bond Markets

The U.S. dollar started the week on the front foot, driven by dimming hopes of a deal to end the Middle East war. The yield on 10-year Treasuries advanced two basis points to 4.32%, while the yield on 2-year Treasuries was up nearly 2 basis points at 3.79%. Most Asian currencies advanced in early Monday trading, with the Thai baht being the only exception.

Oil and Gold Prices

Oil prices climbed on Monday, while U.S. stock futures slipped. The stalled U.S.-Iran peace talks prolonged the disruption of Middle East energy exports, unsettling markets and policymakers. Gold and silver prices were trading lower in the early trade on Monday.

Fund Flow

Foreign Institutional Investors (FIIs) extended their selling streak for the fifth consecutive session on April 24, offloading equities worth ₹8,827 crore. In contrast, Domestic Institutional Investors (DIIs) continued their buying for the second straight session, purchasing equities worth ₹4,700 crore.