Pre-Market Report: Indian Markets Closed for Ram Navami; GIFT Nifty Signals Positive Bias

Global Market Cues

The global market sentiment remains cautiously optimistic as investors track developments regarding a potential ceasefire between the U.S. and Iran. On Wednesday, U.S. markets recorded their second consecutive day of gains. The S&P 500 rose 0.5% to settle at 6,581, the Nasdaq 100 climbed 0.7%, and the Dow Jones Industrial Average surged 290 points to close at 46,208. These gains were largely driven by President Trump’s 15-point peace proposal, which eased immediate fears of energy infrastructure strikes.

In Asia this morning, markets are seeing some consolidation after the recent rally. While Japan's Nikkei and Australia's S&P/ASX 200 showed resilience earlier in the week, South Korea’s Kospi dropped 1.5% in early Thursday trade. Crude oil remains highly volatile; Brent crude fell toward $102 per barrel overnight on truce hopes but rebounded slightly this morning as Iran’s Revolutionary Guard expressed skepticism toward the U.S. proposal.

GIFT Nifty and Domestic Cues

The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) are closed today for the Ram Navami holiday. Trading will resume on Friday, March 27, 2026. In the previous session on Wednesday, Indian markets witnessed a massive relief rally, with the Nifty 50 surging 1.78% (399.75 points) to end at 22,912.40 and the Sensex jumping 1.89% (1,372 points) to 74,068.45.

Despite the domestic holiday, the GIFT Nifty is active and provides a cue for the next opening. As of early Thursday morning, the GIFT Nifty is trading around the 23,300 mark, maintaining a significant premium over the Nifty 50's spot close. This suggests that if global sentiment holds, the Indian markets could see a gap-up opening on Friday morning.

Key Stocks in Focus

• V2 Retail: The company has set today, March 26, as the record date for its 10:1 stock split. Shares will reflect the adjusted face value of ₹1 when trading resumes.
• Swiggy and Zomato: Both food delivery giants are in the spotlight following a hike in platform fees to approximately ₹17.58 per order (inclusive of GST). Analysts are monitoring the impact on order volumes amid rising fuel costs.
• Banking Heavyweights: HDFC Bank, ICICI Bank, and SBI led the rally on Wednesday and will be watched for continued momentum on Friday as FII outflows showed signs of slowing during the ceasefire talks.
• Jefferies Financial: The global investment bank reported a 22% jump in profit but missed overall estimates due to loan losses, which may influence sentiment in the diversified financial services sector.

Key Events to Watch Today

• Ram Navami Holiday: No domestic trading in Equity, F&O, or SLB segments today.
• US-Iran Negotiations: Any official response from Tehran regarding the 15-point U.S. ceasefire plan will be the primary driver for global volatility.
• U.S. Macro Data: Investors will keep an eye on U.S. weekly jobless claims and revised GDP estimates due later today, which could impact interest rate expectations for the next Fed meeting.
• Oil Price Volatility: Any disruption or breakthrough in the Strait of Hormuz remains a critical factor for inflation-sensitive markets like India.

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

Tags: Pre-Market Stock Market Nifty Sensex Market Update