Key Global Market Indicators to Influence Today's Trading Activity

Indian Equity Markets Poised for Gap-Up Opening on April 15

The Indian equity benchmarks, the BSE Sensex and Nifty 50, are likely to witness a gap-up opening on April 15, tracking positive cues from GIFT Nifty, which is trading higher around 24,227.50. This comes after a strong rebound in the previous session, where the Indian equity market came under pressure on April 13 due to the recent talks between the US and Iran failing without a deal.

Market Performance

At close, the Sensex was down 702.68 points or 0.91 percent at 76,847.57, and the Nifty was down 207.95 points or 0.86 percent at 23,842.65. This decline was largely attributed to the uncertainty surrounding the US-Iran talks.

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Global Market Trends

Asian stocks tracked Wall Street higher as optimism over renewed US-Iran talks buoyed sentiment. Key indices in the US, including the Nasdaq, S&P 500, and Dow Jones Industrial Average, recorded gains, with the Nasdaq climbing 2% while the S&P 500 finished up 1% and near its record closing high.

The S&P 500 gained 81.14 points, or 1.18%, to finish at 6,967.38, while the Nasdaq Composite gained 455.35 points, or 1.96%, to 23,639.08 for its tenth daily advance in a row.

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline

Currency and Bond Market

The US dollar lingered near six-week lows on Wednesday, surrendering nearly all the gains it had made since the Middle East war erupted as hopeful signs of another round of talks between the US and Iran lifted risk appetite. Treasuries strengthened with the yield on the benchmark 10-year dropping one basis point to 4.24%.

Commodity Market

Oil prices fell for a second day on Wednesday on expectations peace talks between the US and Iran may resume and eventually release supply from the key Middle East producing region trapped by the closure of the Strait of Hormuz. Gold, however, held a gain on optimism that the US and Iran are seeking a negotiated settlement to the war, easing inflation concerns arising from an energy-supply shock.

Fund Flow Action

On April 13, Foreign Institutional Investors (FIIs) were net sellers, offloading equities worth Rs 1,983 crore, while Domestic Institutional Investors (DIIs) remained net buyers, purchasing equities worth over Rs 2,400 crore.