Indian stock market: 8 key things that changed for market overnight - Gift Nifty, Asian markets rebound to gold prices

Indian stock market: The domestic equity benchmark indices, Sensex and Nifty 50, are expected to open higher on Tuesday, rebounding from previous session’s steep losses, following gains in Asian peers.

Asian markets rallied, while the US stock market ended mixed overnight, with the Nasdaq Composite closing in the green.

On Monday, the Indian stock market crashed, witnessing its biggest single-day fall in 10 months, amid growing fears over the economic fallout of global trade war triggered by US President Donald Trump’s tariff policies.

The Sensex cracked 2,226.79 points, or 2.95%, to close at 73,137.90, while the Nifty 50 settled 742.85 points, or 3.24%, lower at 22,161.60.

“Already, commodity prices of crude oil and several metals are seeing a downward slide, which is an indication of a slackening demand if the current trend persists. With Dow Futures indicating a precarious start for US markets on Monday, equity benchmark indices worldwide could be in for a rough ride on Tuesday as well,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Here are key global market cues for Sensex today:

Asian Markets

Asian markets traded higher on Tuesday, rebounding from previous session’s losses. Japan’s Nikkei 225 rallied 5.34%, while the Topix surged 5.53%. South Korea’s Kospi gained 2.26% and the Kosdaq rose 2.35%. Hong Kong’s Hang Seng index futures indicated a weaker opening.

Gift Nifty Today

Gift Nifty was trading around 22,650 level, a premium of nearly 386 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.

Wall Street

US stock market closed mixed on Monday on growing concerns over a potential economic slowdown and rising inflation due to President Donald Trump’s tariff policies and his latest warning of additional tariffs on Chinese imports.

The Dow Jones Industrial Average plunged 349.26 points, or 0.91%, to 37,965.60, while the S&P 500 declined 11.83 points, or 0.23%, to 5,062.25. The Nasdaq Composite closed 15.48 points, or 0.10%, higher at 15,603.26.

Apple shares declined 3.7%, Tesla share price fell 2.6%. Nvidia stock price gained more than 3%, and Amazon.com share price rose 2.5%.

Trump’s Tariffs Threat

US President Donald Trump threatened China with 50% additional tariffs unless they withdrew their retaliatory tariffs against US exports by April 8, 2025. Additionally, Trump said that all talks with China concerning their requested meetings with the US will be terminated.

China Vows ‘Countermeasures’

China’s Commerce Ministry said it “resolutely opposes” the US President’s threat of escalating tariffs and will never accept the “blackmail nature” of the United States. China also vowed to take countermeasures to safeguard its own rights and interests.

The US threats were ‘a mistake on top of a mistake”, a ministry spokesperson said, urging the US to properly resolve differences with China through dialogue with mutual respect and on an equal footing.

People’s Bank of China

China’s central bank said it supported sovereign wealth fund Central Huijin Investment increasing its holdings in stock market index funds, Reuters reported. The People’s Bank of China would provide re-lending support to Central Huijin Investment, a unit of China Investment Corp, when necessary to maintain the smooth operation of the capital market.

Gold Prices Today

Gold prices traded higher from a near four-week low reached in the previous session. Spot gold rate rose 0.3% to $2,990.48 an ounce. Bullion hit its lowest level since March 13 on Monday. US gold futures gained 1.1% to $3,004.70.

Crude Oil Prices

Crude oil prices rallied more than 1%, rebounding after a hefty selloff in recent sessions. Brent futures gained 1.26% to $65.02 per barrel, while US West Texas Intermediate crude futures rose 1.52% to $61.61.

(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.