Nifty Surmounts 24,100 Mark, Posts 1% Gain Amid Global Market Sentiment

Indian Equities Signal Strong Rebound Ahead of Resumption

The GIFT Nifty surged more than 1.1 percent in morning trading on Tuesday, signaling a strong rebound for Indian equities when trading resumes after the Ambedkar Jayanti holiday. The easing of crude prices and improving global sentiment lifted risk appetite, indicating a positive start to the next session.

The GIFT Nifty was trading at 24,139, up 261 points or 1.1 percent, which suggests that the Nifty 50 could open firmly higher in the next session, potentially reclaiming the 24,000 mark after Monday's decline. Domestic markets were shut on April 14 on account of Baba Saheb Ambedkar Jayanti, with trading across equities and derivatives segments suspended for the day. Trading will resume on Wednesday.

The positive signal from GIFT Nifty comes after Indian benchmarks ended lower on Monday, with the Sensex falling over 700 points and the Nifty slipping more than 200 points amid concerns over the breakdown of US-Iran talks and a spike in crude oil prices. However, global cues have turned supportive since then. Oil prices have retreated below the $100 mark, with Brent crude falling about 2.7 percent to around $96.66 a barrel, easing concerns around inflation and input costs, particularly for oil-importing economies like India.

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Global Markets Advance Sharply

Asian markets also advanced sharply, with Japan's Nikkei and South Korea's Kospi rising more than 2 percent each, while a broader Asia-Pacific index gained about 1 percent. US markets ended higher overnight, with the S&P 500 and Nasdaq climbing over 1 percent each, supported by hopes of a potential resolution in the Middle East conflict and the start of the earnings season.

Investor sentiment improved after indications that the US and Iran may continue negotiations despite the recent breakdown in talks. Reports suggesting that both sides remain open to dialogue, along with comments from US President Donald Trump about a possible deal, helped calm fears of prolonged supply disruptions.

Market Sentiment and Flows

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Back home, institutional flows remained mixed in the previous session, with foreign investors turning net sellers again, offloading equities worth Rs 1,983 crore, while domestic institutional investors provided support with net purchases of Rs 2,432 crore.

Markets may look to recover recent losses, aided by softer crude prices and improved global risk sentiment. However, geopolitical developments and oil price movements are likely to remain key triggers.