Indian stock market: 7 things that changed for market overnight - Gift Nifty, Wall Street rally to US-China trade talks

Indian stock market: The domestic equity market benchmark indices, Sensex and Nifty 50, are expected to open on a cautious note despite a rally in global stock markets.

Asian markets traded higher, while the US stock market rallied overnight, on optimism over easing US-China trade tensions.

On the domestic front, sentiment remains cautious amid signs of escalation in geopolitical tensions between India and Pakistan after the Pahalgam terror attack. India responded by suspending the Indus Water Treaty and downgrading diplomatic ties with Pakistan.

On Wednesday, the Indian stock market ended with strong gains, extending the rally for the seventh consecutive session.

The Sensex gained 520.90 points, or 0.65%, to close at 80,116.49, while the Nifty 50 settled 161.70 points, or 0.67%, higher at 24,328.95.

“Optimism soared as President Trump confirmed Powell’s continuation and US-China trade talks showed signs of progress. The broader sentiment stayed upbeat with persistent FII buying and hopes that India could benefit from the US-China tariff war,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Here are key global market cues for Sensex today:

Asian Markets

Asian markets traded mostly higher on Thursday, following overnight rally on Wall Street, as easing tensions of US-China trade war fueled optimism.

Japan’s Nikkei 225 rallied over 1%, while the Topix gained 0.81%. South Korea’s Kospi was flat and the Kosdaq rose 0.34%. Hong Kong’s Hang Seng index futures were flat.

Gift Nifty Today

Gift Nifty was trading around 24,260 level, a discount of nearly 52 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.

Wall Street

US stock market ended higher on Wednesday on revived hopes for progress in the US-China trade dispute.

The Dow Jones Industrial Average rallied 558.02 points, or 1.42%, to 39,745.00, while the S&P 500 jumped 111.74 points, or 2.11%, to 5,399.45. The Nasdaq Composite closed 521.80 points, or 3.20%, higher at 16,822.22.

Tesla share price surged 8.2%, Boeing shares surged 6.3%, Apple stock price gained 2.43%, Nvidia stock rallied 3.86% and Amazon shares jumped 4.28%.

US-China Trade Talks

The White House would look at lowering tariffs on imported Chinese goods pending talks with Beijing, Reuters reported, quoting a source familiar with the matter, adding that any action would be in conjunction with negotiations and not made unilaterally.

US Home Sales

Sales of new US single-family homes increased more than expected in March. New home sales jumped 7.4% to a seasonally adjusted annual rate of 724,000 units last month, the highest level since September 2024. Economists polled by Reuters had forecast new home sales, which make up about 14% of US home sales, climbing to a rate of 680,000 units.

India-Pakistan Ties

India suspended the Indus Water Treaty and announced downgrading diplomatic ties with Pakistan including expulsion of its military attaches in view of cross-border links to the Pahalgam terror attack. The Cabinet Committee on Security (CCS) decided that the Indus Waters Treaty of 1960 will be held in abeyance with immediate effect, and the Integrated Check Post at Attari will be closed with immediate effect.

Gold Prices

Gold prices retreated from an all-time high, falling more than 3%, as appetite for riskier assets improved. Spot gold slipped 3% to $3,281.6 an ounce, after hitting a record high of $3,500.05 in the previous session. US gold futures dropped 3.7% to settle at $3,294.10.

(With inputs from Reuters)

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.