Pre-Market Report: Strong Gap-Up Expected as GIFT Nifty Reclaims 24,200 on Global De-escalation Hopes

Global Market Cues

The overnight performance of Wall Street provides a strong tailwind for domestic indices. US markets surged on Tuesday as investors reacted positively to signs of de-escalation in the Middle East and a cooling inflation outlook. The Nasdaq Composite jumped 1.96% to 23,639.08, marking its tenth consecutive winning session, while the S&P 500 rose 1.18% to 6,967.38, closing just shy of its record high. The Dow Jones Industrial Average added 0.66%.

Sentiment was further bolstered by US Producer Price Index (PPI) data, which rose 0.5% in March—significantly lower than the 1.1% increase economists had anticipated. In the commodities market, Brent crude oil prices retreated below the $100 mark, trading near $94.50 per barrel, easing immediate concerns over imported inflation for India.

Asian markets are trading firmly in the green this morning.

• Japan’s Nikkei 225 and South Korea’s Kospi both advanced over 2% in early trade.
• The MSCI Asia Pacific Index rose nearly 1%, tracking the tech-led rally in the US.
• The US Dollar Index softened to 98.11 as risk-on sentiment returned to the global stage.

GIFT Nifty and Domestic Cues

After remaining shut on Tuesday for Ambedkar Jayanti, the Indian market is set to play catch-up with global gains. GIFT Nifty is currently trading around the 24,228 level, indicating a gap-up start of approximately 350–370 points for the Nifty 50. This follows a volatile Monday where the Sensex tumbled over 700 points due to geopolitical jitters.

On the domestic macroeconomic front, India’s retail inflation (CPI) for March came in at 3.4%, remaining well within the RBI’s comfort zone. Additionally, the IMF has marginally upgraded India’s GDP growth forecast for FY27 to 6.5%, citing resilient domestic demand despite global headwinds.

Key Stocks in Focus

• TCS: The IT major will be in the spotlight as investors continue to react to its FY26 annual results reported last week, which showed improving sequential growth and strong deal wins in AI and Cloud.
• HDFC Bank & ICICI Bank: Banking heavyweights are expected to see traction following strong quarterly performances from US peers like Citigroup and BlackRock, and their inclusion in top-pick lists by major brokerages.
• Reliance Industries: As a major index heavyweight, RIL will be a key driver of today’s expected rebound, particularly with the cooling of crude oil prices.
• Aviation & Paint Stocks: Companies like InterGlobe Aviation (IndiGo) and Asian Paints are likely to benefit from the 6% overnight slide in crude oil prices, which reduces input cost pressures.
• HDFC Life: The board is scheduled to consider fund-raising via a preferential issue of equity shares on April 16, keeping the stock in focus today.

Key Events to Watch Today

• Geopolitical Developments: Ongoing reports regarding the resumption of US-Iran diplomatic talks in Pakistan remain the primary trigger for global market volatility.
• Q4 Earnings Season: More India Inc. companies are set to kick off their March quarter (Q4FY26) earnings announcements this week.
• Fed Commentary: Speeches from Federal Reserve officials later tonight will be monitored for hints on the future trajectory of interest rates following the cool PPI data.

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

Tags: Pre-Market Stock Market Nifty Sensex Market Update