Pre-Market Report: Indian Indices Poised for Massive Gap-Up as Oil Plunges on US-Iran Ceasefire

Global Market Cues

Global markets experienced a dramatic shift overnight as geopolitical tensions in the Middle East suddenly eased. US President Donald Trump announced a two-week suspension of planned strikes on Iran, contingent on the reopening of the Strait of Hormuz. Consequently, Brent crude prices plummeted by over 13%, falling below the $95 per barrel mark. On Wall Street, major indices ended Tuesday’s session on a mixed but stable note after recovering from earlier volatility. The S&P 500 and Nasdaq Composite edged up by 0.08% and 0.10% respectively, while the Dow Jones Industrial Average dipped slightly by 0.18%.

Asian markets are soaring this morning in response to the de-escalation. Japan’s Nikkei 225 and South Korea’s Kospi are both trading nearly 5% to 6% higher, reflecting a massive relief rally across the region.

GIFT Nifty and Domestic Cues

GIFT Nifty is signaling a blockbuster opening for the Indian bourses. The index was last seen trading at 23,816, indicating a massive gap-up of over 660 points or approximately 2.9% for the Nifty 50. This surge comes as a major relief for the Indian economy, which is highly sensitive to crude oil prices.

On the domestic front, all eyes are on the Reserve Bank of India. The Monetary Policy Committee (MPC) is scheduled to announce its decision at 10:00 AM today. Most analysts expect Governor Sanjay Malhotra to maintain the status quo, keeping the repo rate unchanged at 5.25%. However, the central bank's commentary on inflation and growth in light of recent energy price volatility will be the key driver for the mid-day session.

Key Stocks in Focus

• Phoenix Mills: The company reported an all-time high retail consumption of approximately ₹16,578 crore for FY26, with significant growth in its office and residential portfolios.
• Varun Beverages: The stock will trade ex-dividend today, April 8, following the recommendation of a ₹0.50 per share final dividend.
• IRFC: The company has sanctioned a term loan to MAHAGENCO, which is expected to boost its infrastructure financing portfolio.
• Deep Industries: The firm recently secured a significant order from ONGC, strengthening its position in the oil and gas services sector.
• CreditAccess Grameen: The microfinance lender reported robust 14% year-on-year loan growth for FY26, alongside improved asset quality.
• PDS Limited: The global fashion company signed a "Sourcing as a Service" (SaaS) deal with a major US-based value retailer.
• Gravity India: The stock turns ex-date today for its rights issue of equity shares in the ratio of 23:3.

Key Events to Watch Today

• RBI Monetary Policy Outcome: The interest rate decision will be announced at 10:00 AM, followed by a press conference at 12:00 PM.
• Geopolitical Developments: Further details regarding the implementation of the US-Iran ceasefire and the status of the Strait of Hormuz.
• Oil Price Volatility: Continued monitoring of Brent and WTI crude as the market adjusts to the supply-side relief.
• FII/DII Activity: Investors will watch if Foreign Institutional Investors (FIIs) reverse their recent selling trend following the global de-escalation.

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

Tags: Pre-Market Stock Market Nifty Sensex Market Update