The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open higher on Wednesday, following a rally in global markets, amid hopes of an end to the US-Iran war in the Middle East.
Asian markets traded higher, while the US stock market jumped overnight, with the S&P 500, Nasdaq and Dow Jones Industrial Average recording their biggest one-day gains since May 2025.
The Indian stock market was closed for trading on Tuesday, March 31, on account of Mahavir Jayanti.
On Monday, the Indian stock market ended sharply lower as concerns over the US-Iran war and its impact on India’s macroeconomic outlook.
The Sensex crashed 1,635.67 points, or 2.22%, to close at 71,947.55, while the Nifty 50 settled 488.20 points, or 2.14%, lower at 22,331.40.
“Markets are likely to remain fragile, with crude prices, currency trends and foreign flows driving near-term direction with volatility expected to stay elevated amid an uncertain backdrop,” said Siddhartha Khemka – Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.
Here are key global market cues for Sensex today:
Asian Markets
Asian markets rebounded on Wednesday on hopes that the US-Iran war could be coming to an end soon. MSCI Asia Pacific Index was up 1.6%. Japan’s Nikkei 225 jumped 3.64% and the Topix rallied 3.17%. South Korea’s Kospi surged 5.32%, while the Kosdaq gained 4.13%. Hong Kong’s Hang Seng index futures indicated a higher opening.
Gift Nifty Today
Gift Nifty was trading around 22,870 level, a premium of nearly 444 points from the Nifty futures’ previous close, indicating a gap-up start for the Indian stock market indices.
Wall Street
US stock market ended with strong gains on Tuesday amid speculation about a potential de-escalation in the Middle East war.
The Dow Jones Industrial Average rallied 2.49% to 46,341.51, while the S&P 500 jumped 2.91% to end at 6,528.52. The Nasdaq closed 3.83% higher at 21,590.63. During the first quarter, the S&P 500 declined 4.6% year-to-date, while the Nasdaq plunged 7.1% and the Dow has fallen 3.6%
Nvidia stock price surged 5.6%, Alphabet shares jumped 5.1%, Meta Platforms share price rallied 6.7%, Microsoft shares gained 3.12%, Apple stock price rose 2.90%, Amazon shares advanced 3.66%, and Tesla stock price added 4.64%.
US-Iran War
US President Donald Trump said that American military operations against Iran could stop within two to three weeks, adding that Iran does not need to reach any agreement for the conflict to wind down.
Japan PMI
Japan’s factory activity expanded at a slower pace in March. The final S&P Global Japan Manufacturing Purchasing Managers’ Index (PMI) fell to 51.6 in March from a 45-month high of 53.0 in February, but slightly overshot the flash figure of 51.4.
Crude Oil Prices
Crude oil prices rose, with Brent front-month futures extending a record March rally as US-Iran war volatility kept markets jittery. Brent crude oil price gained 0.54% to $104.51 a barrel, while the US West Texas Intermediate (WTI) crude futures rallied 0.88% to $102.25.
Gold Rate Today
Gold prices extended a three-day rally after Trump said he expected the US to end the war with Iran within two to three weeks. Spot gold price gained 0.8% to $4,703.66 an ounce, while silver prices fell 0.5% to $74.82 an ounce.
Dollar
The dollar was largely steady, with gains from safe-haven demand fading. The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, fell 0.03% to 99.70. The euro rose 0.21% to $1.1576 and Sterling strengthened 0.21% to $1.3247. The Japanese yen gained 0.11% against the greenback to 158.55 per dollar.
(With inputs from Agencies)
