Global Markets Preview: Key Economic Indicators to Watch in Today's Trading Session

Indian Equity Markets Expected to Open Positively on April 24

The Indian equity benchmarks, BSE Sensex and Nifty 50, are likely to see a positive opening on April 24, tracking positive cues from GIFT Nifty, which is trading higher at around 24,230.

The Indian equity markets extended their losing streak for the second consecutive session on April 23, as lack of progress in US–Iran negotiations pushed crude oil prices above $100 per barrel, dampening investor sentiment. At close, the Sensex was down 852.49 points or 1.09 percent at 77,664, and the Nifty was down 205.05 points or 0.84 percent at 24,173.05.

GIFT Nifty Trades Higher

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GIFT Nifty was trading higher at around 24,230, indicating a positive start for the Indian equity markets. This uptick in GIFT Nifty suggests a potential improvement in investor sentiment, which could translate to a positive opening for the Indian equity markets.

Asian and US Equities

Asian indices were trading mixed in the early trade as investors remained cautious despite a three-week extension of the Israel-Lebanon ceasefire, underscoring lingering geopolitical uncertainty. In contrast, US stocks fell in choppy trading on Thursday as hopes dimmed for a quick end to the Iran war, while investors grappled with a mixed bag of earnings reports as concerns resurfaced about AI-driven disruption across the software sector.

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Currency and Commodities

The dollar rose as oil jumped amid fresh signs of escalation in the Iran war, dimming prospects for an imminent resumption of flows through the Strait of Hormuz. Crude oil rose for a fifth straight day as concerns grew that the US and Iran were making little progress toward resuming talks on de-escalation, keeping the Strait of Hormuz effectively closed. Gold was headed for a weekly decline, snapping four weeks of gains, as the US and Iran intensified a maritime standoff and progress faltered on talks to end the war that’s choked energy supplies and heightened inflation risks.

Fund Flow Action

Foreign Institutional Investors (FIIs) extended their selling streak for a fourth consecutive session on April 23, offloading equities worth Rs 3,254 crore. In contrast, Domestic Institutional Investors (DIIs) provided some support to the market, purchasing equities worth over Rs 900 crore.