Domestic stock markets started the day on a positive note, following global trends from the US and Asia. The Nifty opened 2.54% higher at 22,899, while the Sensex began with a 2.52% increase at 73,762.43. Various sectors, including banking, auto, and IT, showed gains with all indices trading in the green.
US President Donald Trump hinted at a possible halt in attacks on Iran within three weeks, signaling a potential de-escalation. Iran, on the other hand, warned of retaliation against American corporations if Iranian figures are targeted. The markets had faced a significant decline of over 10% in March due to heightened geopolitical tensions.
Analysts suggest that amidst global uncertainties and high volatility, investors should remain cautious and selective. They recommend focusing on fundamentally strong stocks during market corrections and advise initiating fresh long positions only after the Nifty crosses and sustains the 24,000 level. Auto stocks are anticipated to draw attention as companies unveil their sales figures.
Institutionally, foreign investors sold equities worth Rs 11,163 crore, while domestic investors bought equities worth Rs 14,894 crore. Globally, Wall Street closed with mixed results, the S&P 500 down about 3%, and the Nasdaq up nearly 4%. In Asia, major indices like Japan’s Nikkei, Hong Kong’s Hang Seng, and South Korea’s KOSPI witnessed significant gains.
Crude oil prices saw an increase, with Brent crude futures rising by 1.81% to $105.86 per barrel and US West Texas Intermediate (WTI) futures up by 1.90% at $103.31.
