Pre-Market Report: Indian Markets Closed for Maharashtra Day; Global Cues Bullish on Tech Earnings

Global Market Cues

The US markets concluded the month of April on a record-breaking note as stellar corporate earnings from "Big Tech" and industrial giants outweighed persistent inflation concerns. The Dow Jones Industrial Average surged 1.62% to close at 49,652.14, while the S&P 500 and Nasdaq Composite gained 1.02% and 0.89%, respectively.

• Big Tech Earnings: Alphabet (Google) shares skyrocketed 10% following a massive earnings beat and upbeat AI commentary. Apple also reported better-than-expected revenue of $111.18 billion after the bell, with shares rising nearly 2.7% in extended trading on a $100 billion buyback announcement.
• Commodities: Brent crude prices cooled significantly from recent four-year peaks, settling near $111 per barrel. Gold prices remained robust, trading near $4,630 per ounce as investors balanced growth optimism with geopolitical hedges.
• Asian Markets: Trading is thin across Asia today as major hubs including China, Hong Kong, Singapore, and South Korea are closed for Labour Day. Japan’s Nikkei 225 edged 0.4% higher in early trade, finding relief in tech resilience.

GIFT Nifty and Domestic Cues

While domestic bourses are shut, the GIFT Nifty continues to trade, providing a benchmark for international investors and a signal for Monday's opening.

• GIFT Nifty Status: As of 6:37 AM IST, GIFT Nifty was trading at approximately 24,335, indicating a strong positive bias that would likely have led to a gap-up opening for the Nifty 50 if the markets were active.
• Market Holiday: Both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) are closed today for Maharashtra Day. Normal trading activity will resume on Monday, May 4, 2026.
• MCX Update: The Multi Commodity Exchange (MCX) will remain closed for the morning session but will open for the evening session starting at 5:00 PM IST.

Key Stocks in Focus

Although no trading will occur on domestic exchanges today, the following stocks and sectors will be in the spotlight when markets reopen:

• Auto Stocks: Monthly sales data for April 2026 (Maruti Suzuki, M&M, Tata Motors) will be released today. Investors will react to these figures on Monday morning.
• Apple Ecosystem: Shares of domestic suppliers and partners may see traction on Monday following Apple's strong overnight performance in the US.
• Garden Reach Shipbuilders: The company recently reported a 24.14% rise in standalone net profit for the March 2026 quarter, which may trigger a delayed reaction.
• Orient Cement: Reported a solid 31.76% jump in standalone net profit in its latest quarterly results.

Key Events to Watch Today

• Maharashtra Day & Labour Day: Public holidays across India and several global markets will keep trading volumes low worldwide.
• LPG Price Update: Commercial gas cylinder rates have been hiked by ₹993 effective today, which could impact hotel and restaurant stocks next week.
• Fed Leadership Transition: Markets are closely monitoring the transition as Jerome Powell concludes his final policy meeting as Fed Chair, with Kevin Warsh expected to take the reins.
• Auto Sales Data: The release of April sales volumes will be the primary domestic data point for the weekend.

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

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