SENSEX

Global Markets Rise Despite War Fears | Oil Hits $110, Nifty Faces 23000 Resistance | Opening Bell

Sensex and Nifty likely to open flat to negative on April 7, GIFT Nifty trades lower, Asian and US equities gain, FIIs sell ₹8167 crore, DIIs buy over ₹8000 crore

* Sensex and Nifty likely to open flat to negative on April 7
* GIFT Nifty trades lower, Asian and US equities gain
* FIIs sell ₹8167 crore, DIIs buy over ₹8000 crore

Indian equity benchmarks may open flat to negative on April 7, tracking GIFT Nifty losses. Previous session saw over 1% gains. Global markets mixed; oil rises amid US-Iran tensions, gold steady, FIIs sold ₹8167 crore, DIIs bought over ₹8000 crore.

shorts/business/first-tick-top-global-cues-to-watch-in-today-s-trade-129

Indian equity benchmarks, the BSE Sensex and Nifty 50, are likely to see a flat to negative start on April 7, tracking losses in GIFT Nifty, which was trading around the 22,966 level.

Track the latest updates on GIFT Nifty right here on Moneycontrol.

The Indian benchmark indices ended with a gain of more than 1 percent in a volatile session, extending their gains for the third straight day, with the Nifty finishing near 23,000 mark amid buying seen across the sectors, barring media and oil &amp;amp; gas.

At close, the Sensex was up 787.30 points or 1.07 percent at 74,106.85, and the Nifty was up 255.15 points or 1.12 percent at 22,968.25.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Down)

GIFT Nifty was trading marginally lower at the 22,966 mark, indicating a flat to negative start for Indian equity indices.

Asian Equities (Up)

Asian markets were trading higher in the early Tuesday, tracking Wall Street gains, as traders continued to assess Iran war-related developments.



US Equities (Gain)

US stocks advanced on Monday as investors looked for ​signs of progress toward a U.S.-Iran ceasefire deal and evaluated President Donald Trump's progressively heated threats of escalation should Iran fail ‌to reopen the Strait of Hormuz.

The Dow Jones Industrial Average rose ​165.21 points, or 0.36%, to 46,669.88, ​the S&amp;amp;P 500 gained 29.33 points, ⁠or 0.45%, to 6,612.02 and the Nasdaq Composite gained 117.16 points, or 0.54%, to 21,996.34.



Dollar Index (Up)

The dollar stood just shy of recent highs on Tuesday as traders counted down to a U.S.-imposed deadline for Iran to open the Persian Gulf to shipping or face attacks on its infrastructure.



US Bond Yield (Down)

The yield on the U.S. 10-year Treasury and the 2-year U.S. Treasury down marginally at 4.32% and 3.83%, respectively.



Asian Currencies (Down)

Among Asian currencies except China Renminbi, all other currencies were trading lower in the early Tuesday trade.



Crude (Rises)

Oil prices extended gains on Tuesday as U.S. President Donald Trump heightened his rhetoric against Iran, threatening stronger action if the country fails to reopen the Strait of Hormuz, a key global oil transit chokepoint.



Gold (Flat)

Gold steadied after a two-day decline, as traders weighed US President Donald Trump’s latest threat to destroy Iranian infrastructure and the impact of a protracted war on inflation and economic growth.



Fund Flow Action

Foreign Institutional Investors (FIIs) continued their selling on April 6, as they offloaded equities worth ₹8167 crore. On the other hand, Domestic Institutional Investors (DIIs) bought equities worth over ₹8,000 crore.



Hope you're all set for today's trade. We wish you a profitable day ahead.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

First Tick: Top global cues to watch in today’s trade

Sensex Today | Stock Market LIVE Updates: Nifty Midcap index down 0.4%, while smallcap index is trading flat. V-Mart Retail, Vedanta, Brainbees Solutions, HDFC Bank, Reliance Industries are among most active shares on the NSE. Among sectors, realty, IT and Metal up 1% each, while auto, consumer durables, PSU Bank down 0.5-1%.

Sensex Today | Stock Market Live: Sensex down 200 pts, Nifty at 22,900; auto, banks drag, IT, metals shine

It is too early to say if the bottom is in place., Foreign flows unlikely to come back soon to emerging markets and India specifically, Believe one should start investing gradually over next few weeks

* It is too early to say if the bottom is in place.
* Foreign flows unlikely to come back soon to emerging markets and India specifically
* Believe one should start investing gradually over next few weeks

shorts/business/daily-voice-too-early-to-call-a-bottom-says-bay-capital-s-nikunj-doshi-foreign-flows-unlikely-to-return-to-india-soon

As sentiment drives liquidity, Nikunj Doshi, the Managing Partner, and CIO-PMS at Bay Capital believes it is too early to say if the bottom is in place.

&quot;Foreign flows are unlikely to come back soon to emerging markets and India specifically,&quot; he said in an interview to Moneycontrol.

He believes one should start investing gradually over next few weeks, and if war ends then, one may accelerate the pace of investment.

Considering input price inflation across various sectors, RBI in the April policy meeting will increase inflation forecast and will marginally cut growth estimates for economy, he said.

Do you strongly believe that the worst is almost over for the equity markets, followed by a few weeks of consolidation before the next leg of an upmove, or is it still too early to conclude?

A famous quote by Kenneth Galbraith says “We have two classes of forecasters: Those who don’t know – and those who don’t know they don’t know” I would like to believe that I’m in the first category.

Equity market at present is driven more by sentiments than valuation. As sentiment drives liquidity, we believe it is too early to say if the bottom is in place. We don’t know the extent of damage caused or will be caused by ongoing war in the Middle East.

Foreign flows are unlikely to come back soon to emerging markets and India specifically. Domestic flows, however, remain robust as of now. We therefore believe one should start investing gradually over next few weeks, and if war ends then, one may accelerate the pace of investment.

As seen in the past, market doesn’t provide opportunity once clarity emerges. Best time to invest is when no one wants to invest.

Have you started buying heavily during the current market fall? Which sectors would you prefer to add to your portfolio at this stage?

As a Fund Manager we do not take cash calls. We believe investors have given us money to invest and is part of their equity allocation. In the present scenario we would prefer domestic centric businesses. We prefer digital first businesses, companies focusing on domestic consumption and engineering companies.

What do you make of the recent commentaries from the US and Iran with respect to the West Asia war?

As of now the war seems to be more devastating and more prolonged. Typical of war, things have gone out of control and have caused severe collateral damage to the global economy. We can just hope that better sense prevails on either side and ceasefire is announced asap.

Do you expect the RBI to slash its FY27 growth forecast and raise inflation estimates this week?

Considering input price inflation across various sectors, RBI will increase inflation forecast and will marginally cut growth estimates for economy. RBI, however, may not press panic button and will wait for crude oil prices to stabilize.

Do you believe IT stocks have bottomed out?

We would like to segregate IT stocks in two buckets - Services and ER&amp;amp;D. We believe pure play IT services sector is heading for lower growth expectation and bottom is not yet reached. However, ER&amp;amp;D companies are likely to see better growth prospects and one may consider investing in select companies.

What do you expect from the Q4 earnings season, which is starting this week?

Most companies may not disappoint in Q4 earnings, as the impact of war was felt in month of March. Most companies will have inventories for few weeks and may therefore report inventory gains during Q4. However, more important is to watch out for the guidance for Q1FY27 and for full year.

Do you expect managements to maintain a cautious tone for Q1 FY27 and lower their growth estimates?

Till date it is difficult for any management to know impact of war on commodity prices and collateral damage it can cause. We therefore believe most managements would remain cautious in guiding for Q1FY27.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Daily Voice: Too early to call a bottom, says Bay Capital's Nikunj Doshi; foreign flows unlikely to return to India soon

The Indian benchmark indices ended with a gain of more than 1 percent in a volatile session, extending their gains for the third straight day, with the Nifty finishing near 23,000 mark amid buying seen across the sectors, barring media and oil &amp;amp; gas.

After a subdued start amid mixed global cues, the market oscillated between gains and losses for most of the session; however, mid-session buying helped trim intraday losses, allowing indices to close near the day’s high.

At close, the Sensex was up 787.30 points or 1.07 percent at 74,106.85, and the Nifty was up 255.15 points or 1.12 percent at 22,968.25.

Broader markets outperformed the main indices with Nifty Midcap and Smallcap index rising 1.5 percent and 1.3 percent, respectively.

Also Read - Services PMI falls to a 14-month low of 57.5 in March

Biggest Nifty gainers were Trent, Shriram Finance, Axis Bank, Adani Enterprises and Titan Company, while losers were Reliance Industries, ONGC, Max Healthcare, Eicher Motors and JSW Steel.

Among sectors except media and oil &amp;amp; gas, all other indices ended higher with realty, PSU Bank, Private Bank, consumer durables up 2% each, while auto, metal, power up 1 %each.

Also Read - April F&amp;amp;O begins on edge: Heavy shorts in banks, auto, FMCG; rollovers stay cheap

Nearly 100 stocks touched their 52-week low on the BSE, including PG Electroplast, JSW Infra, Max Healthcare, Syngene International, Pidilite Industries, among others. Click to View More

In stock-specific action, shares of Trent Limited surged 8% after the company reported a 21% increase in standalone revenue, while Wipro gained over 1% on securing an 8-year deal from Olam Group.

Among others, Bank of Maharashtra rose 4% after its Q4 total business jumped 18%, and The Great Eastern Shipping Company added nearly 2% after signing a contract to sell its Medium Range tanker ‘Jag Prakash’.

Jewellery stocks such as Senco Gold and Kalyan Jewellers rallied 6–12% after the government cut import prices of gold and silver, while NMDC Limited gained 4% following a price hike. Meanwhile, HDFC Bank rose nearly 3% as its board is set to consider debt fundraising on April 18.

Outlook for April 7

Vinod Nair, Head of Research, Geojit Investments

Domestic equities staged a strong rally as value buying gained traction across the board, with oversold sectors such as Finance, Realty, and Midcaps showing notable strength.

Crude prices softened marginally on reports of ceasefire efforts, while encouraging provisional banking data supported interest in rate sensitive segments. However, overall risk appetite remains cautious due to persistent inflationary pressures and concerns over potential disruptions to global trade.

With the RBI policy, US CPI, crude trajectory, and geopolitical developments all converging this week, markets are likely to remain headline-driven. Given the deep discount in the broader market, there is meaningful upside potential if a credible ceasefire emerges, despite the prevailing sell on rise trend.

Ajit Mishra – SVP, Research, Religare Broking

Markets witnessed a volatile session on Monday but ended with gains of over 1%. The Nifty opened on a muted note amid mixed global cues and elevated crude oil prices, and slipped lower in early trade. However, sentiment improved significantly in the afternoon, leading to a strong rebound. The index eventually surged to close near the 22,968 level, gaining over 1%. Sectorally, most sectors participated in the recovery, with realty, financials, and banking emerging as the top gainers. Broader markets also joined the rebound, with midcap and smallcap indices advancing nearly 1.5% each, supported by improved market breadth and selective risk appetite.

The recovery was primarily driven by reports of a potential ceasefire framework in the Middle East, which helped stabilize crude prices after the initial uptick and improved global risk sentiment.

Additionally, stability in bond yields and continued sector-specific triggers, including positive business updates, further aided the up move. However, concerns around foreign institutional outflows, currency volatility, and potential earnings downgrades continue to linger in the background.

The rebound over the past two sessions is encouraging; however, a decisive cool-off in crude oil prices and a corresponding decline in India VIX—still at elevated levels—remain critical for a sustained recovery. Going ahead, a break above the 23,000 mark could further extend the up move towards the 23,400–23,500 zone, where the hurdle of the short-term moving average (20 DEMA) is placed. On the downside, support is seen in the 22,500–22,000 range.

Given the elevated volatility, traders are advised to maintain a cautious stance and focus on stock-specific opportunities—favoring relatively strong counters for long positions and laggards for shorting opportunities.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Taking Stock: Sensex, Nifty gain 1% in volatile trade; auto, metal, financials lead rally

13 out of 18 years SENSEX has given positive returns in April.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	74,633.32	75,159.79	76,112.12	73,680.99	73,154.52	72,202.19	71,675.72
Fibonacci	74,245.89	74,594.89	75,159.79	73,680.99	73,116.09	72,767.09	72,202.19
Camarilla	74,242.41	74,377.96	74,513.52	73,680.99	73,971.29	73,835.74	73,700.18

INDEX CONTRIBUTION - SENSEX

Net Contribution

MC TechnicalsPRO

Pivot levels

Seasonality analysis

News

Moving Averages
Technical Indicators
Moving Averages Crossovers