Pre-Market Report: Nifty Set for Gap-Down Opening Amid Escalating US-Iran Tensions and Surging Oil Prices

Global Market Cues

The global sentiment remains fragile as geopolitical tensions between the U.S. and Iran reached a boiling point over the weekend. President Donald Trump issued fresh warnings of strikes on Iranian infrastructure, leading to a massive surge in energy markets. Brent crude prices have crossed the $112 per barrel mark, posing a significant inflationary risk for oil-importing nations like India.

Wall Street ended on a mixed note last Thursday before the Good Friday holiday. While the March non-farm payrolls data showed a resilient U.S. labor market with 178,000 jobs added, the focus has shifted entirely to the Middle East conflict. In Asia this morning, markets are trading mixed; Japan's Nikkei 225 gained over 1%, whereas several other major hubs like Hong Kong, China, and Taiwan remain closed for public holidays.

GIFT Nifty and Domestic Cues

GIFT Nifty is currently signaling a negative start for the domestic markets, trading around the 22,620 level, indicating a gap-down of nearly 80-100 points from the Nifty 50's previous close of 22,713. Domestic sentiment is further weighed down by persistent Foreign Institutional Investor (FII) outflows, with FIIs net selling shares worth ₹9,931 crore in the last session.

On the domestic front, the RBI’s Monetary Policy Committee (MPC) begins its first meeting of the new financial year today. While a status quo on the repo rate (currently at 5.25%) is widely expected, the central bank’s commentary on inflation and the impact of rising oil prices will be the primary focus for traders.

Key Stocks in Focus

• HDFC Bank: The lender reported a steady Q4 update with gross advances growing 12% YoY to ₹29.60 lakh crore and deposits rising 15% to ₹29.64 lakh crore. However, the resignation of former chairman Atanu Chakraborty remains a point of discussion for investors.
• Adani Power: The company has secured a major long-term contract to supply 2,500 MW of renewable energy to the Maharashtra State Electricity Distribution Company for a period of 25 years.
• Tata Motors: The auto major reported a strong 17% year-on-year growth in total sales for March 2026, reaching 47,976 units.
• Maruti Suzuki: The company ended FY26 as India’s top passenger vehicle exporter for the fifth consecutive year and has commenced exports of its first electric vehicle, the e-VITARA.
• Lupin: The pharma company announced the successful completion of its acquisition of European specialty firm VISUfarma, strengthening its ophthalmology portfolio.
• Vedanta: The company reported record production levels for FY26, with alumina production seeing a significant jump.

Key Events to Watch Today

• RBI MPC Meeting: Day 1 of the three-day policy meeting starts today; the outcome is scheduled for April 8.
• US ISM Services PMI: A key indicator of the U.S. services sector health, expected later today, which could influence Fed rate expectations.
• Geopolitical Updates: Any further escalation or signs of de-escalation in the U.S.-Iran conflict will be the single biggest driver for market volatility.
• Crude Oil Prices: Movement in Brent crude will be critical for OMCs and paint stocks.

TAGS: Pre-Market, Stock Market, Nifty, Sensex, Market Update

Tags: Pre-Market Stock Market Nifty Sensex Market Update