Indian benchmark indices Sensex and Nifty 50 are likely to see a weak start on April 16, tracking cues from GIFT Nifty trading around 23,275 a short while ago this morning.
Track the latest updates on GIFT Nifty right here on Moneycontrol.
Benchmark indices extended gains for a second session on April 15 to recoup the entire loss seen since the April 2 tariff announcement by US President Trump, helped by a possible exemption for car and auto parts, and towards the end the session by the announcement of an above-average rainfall this year.
At close, the Sensex was up 1,577.63 points or 2.10 percent at 76,734.89, and the Nifty 50 was up 500 points or 2.19 percent at 23,328.55. BSE Midcap and smallcap indices rose 3 percent each.
Here is how financial markets across the globe fared overnight:
GIFT Nifty (Down)
The GIFT Nifty is trading lower at around 23,275, indicating a negative start for the day.
Asian Equities (Down)
Asian stocks edged lower and US equity-index futures slid as trade conflicts showed no signs of abating, with Nvidia Corp. saying the US put new restrictions on some chip exports to China.
US Equities (Down)
US stocks ended slightly lower on Tuesday as tariff uncertainty stayed high and shares of consumer and healthcare companies eased, while upbeat results from banks provided some support.
The Dow Jones Industrial Average fell 155.83 points, or 0.38%, to 40,368.96, the S&P 500 lost 9.34 points, or 0.17%, to 5,396.63, and the Nasdaq Composite lost 8.32 points, or 0.05%, to 16,823.17.
US Bond Yield (Down)
The US 10-year Treasury yields declined by 9 basis points to 4.32%, while the US 2-year bond yield was down 76 bps to 3.81%
Dollar Index (Down)
The dollar clung to a small bounce on Wednesday, as investors took a breather from weeks of fairly fierce selling and markets stabilised to wait for progress on U.S. trade talks.
Asian currencies (Mixed)
Asian currencies were trading mixed in the early trade on Wednesday with Indonesian Rupiah, South Korean Won, China Renminbi, and Malaysian Ringgit trading lower, while Japanese Yen, Philippines Peso, Thai Baht, and Singapore Dollar gained.
Crude (Up)
Oil prices were flat early on Wednesday as shifting U.S. trade policies fuelled uncertainty while markets assessed the potential impact of the U.S.-China trade war on economic growth and energy demand.
Gold (Gains)
Gold rose to a record high as the Trump administration pressed ahead with probes that could broaden a sweeping trade war, boosting demand for havens.
Fund Flow Action
After remaining net sellers for the last nine days, the Foreign institutional investors (FIIs) turned net buyers on April 15 as they purchased equities worth Rs 6065 crore. However, Domestic institutional investors (DIIs) turned net sellers after three days, as they sold equities of Rs 1951 crore on the same day.
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