Stock market today: The key benchmark indices of the Indian stock market witnessed strong value buying on Wednesday after the US President Donald Trump announced that the US military would vacate Iran in the next two to three weeks. Among the frontline indices, the Nifty 50 and the BSE Sensex surged by over 1.50%, while the Bank Nifty index skyrocketed by over 2.30%.
However, things might not be the same when the Indian stock market opens on Thursday, as Trump’s speech on Iran shattered hopes for a possible ceasefire in the Israel-US-Iran war. Sharp selling took place in the Asian market today as the Japanese Nikkei crashed by around 1.75%, China’s DJ Shanghai shed over 0.75%, Hong Kong’s Hang Seng nosedived by 1.15%, and the South Korean Kospi tanked byaround 4%.
What Gift Nifty signals?
After Donald Trump’s speech on Iran, shattering hopes of a possible ceasefire deadline in the US-Iran war, the Gift Nifty live chart crashed nearly 2% from yesterday’s close, signalling a weak opening for the Indian stock market today. The Gift Nifty Futures is trading around 475 points lower at 22,346.
US dollar advances
The US dollar advanced against major currencies on Thursday, reversing two days of losses, after U.S. President Donald Trump’s address on Iran shattered hopes for a possible ceasefire in the Middle East conflict that has rattled investors and roiled markets.
The dollar index, which measures the greenback against a basket of currencies, climbed to a high of 99.925 after the speech. It last traded up 0.3% at 99.861.
“Trump’s comments failed to reassure markets … markets are starting to realise that the war will probably escalate further from here before de-escalating,” Carol Kong, a currency strategist at Commonwealth Bank of Australia, told Reuters.
“The dollar can definitely increase further from here against all the major currencies”, as markets wake up to the fact that the global economy will just slow down materially from here, she added.
Gold, silver rates today
Gold and silver rates today declined after US President Donald Trump’s jibe to hit Iran “extremely hard” over the next two to three weeks.
The COMEX gold rate today dropped 2.30% to around $4,700/oz, and the COMEX silver rate today crashed over 5% to $72/oz, reversing an earlier gain, after Trump used a primetime address to praise US military success in Iran without announcing a ceasefire.
Trump’s much-anticipated address “basically framed the conflict as a military success story, not a ceasefire announcement,” Christopher Wong, a strategist at Oversea-Chinese Banking Corp, told Bloomberg, adding, “Gold had an impressive run-up to a $4,800 intra-session high,” he said. “From here, the momentum may moderate given the possible curtailment of risk appetite on fears of a US ground operation in Iran.”
India VIX today
From a volatility standpoint, India VIX corrected by around 10% in the previous session, reflecting a partial unwinding of fear. A further decline in volatility is possible if the current positive sentiment sustains, which would help stabilise trading conditions and ease option premiums. However, volatility remains elevated, indicating that uncertainty has not fully dissipated.
FII-DII data
Foreign Institutional Investors (FIIs) remained net sellers, offloading ₹8,331 crore on April 1, reflecting lingering caution and a lack of strong conviction in the emerging de-escalation narrative. In contrast, Domestic Institutional Investors (DIIs) provided strong support, helping absorb selling pressure and sustain the recovery.
Stock market today
Speaking on the outlook of the Nifty 50 today, Ajit Mishra, SVP — Research at Religare Broking, said the index has witnessed a relief rally after a steep ~11% decline in March; however, sustainability remains critical. Immediate resistance is placed in the 23,000–23,200 zone, with a key hurdle at 23,500, while support is seen in the 22,300–22,000 range.
“Participants should closely monitor crude oil prices and the rupee for cues on the next directional move. From a trading standpoint, maintaining balanced exposure on both sides and preferring spread strategies over naked positions is advisable as a prudent risk management approach until the market stabilises,” the Religare expert said.
On the outlook of the Bank Nifty today, Vatsal Bhuva, Technical Analyst at LKP Securities, said the index ended Wednesday’s session on a positive note, with a clear positive divergence visible on the RSI in the daily chart, signalling a potential recovery phase.
“In the near term, the outlook appears bullish, with scope for further upside momentum. Immediate support is placed at 50,500 levels, while resistance is seen in the 51,800–52,000 zone. A sustained move above resistance could trigger a recovery towards the 52,900–53,000 levels. However, a breakdown below 50,500 may lead to a fresh round of selling pressure,” Vatsal Bhuva added.
Stocks to buy today
Regarding stocks to buy today, market experts — Sumeet Bagadia of Choice Broking, Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi, and Shiju Koothupalakkal, Senior Manager — Technical Research at Prabhudas Lilladher, recommended these seven buy-or-sell stocks for intraday trading: CONCOR, Aurobindo Pharma, Ashok Leyland, Bajaj Finance, GAIL India, Eicher Motors, and NTPC Green.
Sumeet Bagadia’s stock recommendations today
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
