Stock Market Today: How Will Nifty 50, Sensex Trade On April 28?
The Indian benchmark equity indices Sensex and Nifty 50 are expected to open lower on Tuesday, with trends on Gift Nifty signalling a negative start.
- Republic Business
- 2 min read
The Indian benchmark equity indices Sensex and Nifty 50 are expected to open lower on Tuesday, with trends on Gift Nifty signalling a negative start.
GIFT Nifty trading at 23,999, down 94 points or 0.39%. This comes after a rally was witnessed in Sensex and Nifty in the last trading session. However, the weakness in the market came as oil prices remained elevated and peace talks between Iran and the US remained stalled.
Key Triggers To Impact Indian Markets Today
Global cues: Asian markets were trading close to record high levels but cautiously, with Japan’s Nikkei slipping after hitting a fresh high. The US markets ended largely flat overnight. The S&P 500 and Nasdaq recorded modest gains as investors remained cautious ahead of a packed week of earnings, economic data, and central bank decisions.
Crude oil price spike: A trigger that continues to loom over the markets is crude oil. Brent crude extended its rally for a seventh straight session, trading near $108-109 per barrel, as progress on US-Iran negotiations remains elusive and the Strait of Hormuz continues to face disruptions. Elevated oil prices are fueling concerns linked inflation, currency stability, and external balances, particularly for import-dependent economies like India.'
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FIIs selling streak: Investors sentiment is likely to be cautious despite Monday's relief rally, when the Sensex and Nifty gained nearly 0.8%, respectively.
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Foreign institutional investors (FIIs) continued their selling streak for a sixth consecutive session, offloading equities worth over Rs 1,100 crore, while domestic institutional investors (DIIs) provided support through sustained buying. Analysts expect markets to remain volatile and largely driven by global developments, particularly around geopolitical tensions and energy markets. The ongoing Q4 earnings season is also likely to drive stock-specific action, leading to sectoral divergence.