Indian equity markets opened higher on Thursday, with Sensex gaining 544.57 points or 0.70% to 78,655.81 and Nifty 50 rising 150.20 points or 0.62% to 24,381.50 as of 9:19 AM IST. According to The Hindu BusinessLine, GIFT Nifty futures were trading at 24,317.5 as of 7:59 AM IST, indicating that the benchmark Nifty 50 will open above Wednesday's close of 24,231.3. This uptick reflects improving investor confidence as hopes grow for a potential truce between the US and Iran, which has helped stabilise global risk sentiment. All 16 major sectors advanced at the open, with the broader small-caps and mid-caps rising 1.1% each, as reported by The Hindu BusinessLine.
Asian markets traded higher in early deals, tracking strength in global equities. According to The Hindu BusinessLine, Asian markets pushed higher, rising 1.2%, with South Korea's Kospi gaining around 1.8% and Japan's Nikkei 225 rising 1.9%, as investors responded positively to easing geopolitical tensions. The broader Asia-Pacific index also remained on an upward trajectory, marking a third consecutive session of gains, as market participants shifted focus back to earnings and fundamentals. India's Nifty 50 and Sensex advanced 1.6% on Wednesday to hit a one-month high after the U.S. said talks with Iran could resume soon in Pakistan, as reported by The Hindu BusinessLine.
Overnight, US markets delivered strong performance with the S&P 500 and Nasdaq Composite closing at record levels. According to The Hindu BusinessLine, the indices gained 0.8% and 1.6% respectively, supported by robust earnings from major financial institutions such as Bank of America and Morgan Stanley. However, the Dow Jones Industrial Average ended marginally lower, slipping 0.15%. With around 6% of companies reporting earnings for the quarter, 84% have beaten analysts' expectations, as reported by The Hindu BusinessLine. Wipro shares were up 1.5% in early trade ahead of Q4 results announcement, while ICICI Lombard reported a 7.3% rise in net profit to ₹547 crore for the March quarter.
Geopolitical developments remain central to market direction, with optimism around a possible agreement between the US and Iran improving sentiment. As reported by The Hindu BusinessLine, President Donald Trump said the U.S.-Israeli war on Iran was "close to over," while the White House expressed optimism about a deal, saying more in-person talks would likely take place in Pakistan again. Brent crude slipped below $95 on Thursday after reports that Iran could consider allowing ships to pass through around the Strait of Hormuz, outweighing concerns over ongoing supply disruptions. Crude oil futures traded marginally up on Thursday morning even as markets pinned hopes on an extension of the US-Iran ceasefire, which is set to expire on April 21, as reported by The Hindu BusinessLine.
With geopolitical risks showing signs of stabilisation, investor attention is gradually returning to corporate earnings and economic data. According to The Hindu BusinessLine, precious metals traded higher, with gold and silver futures gaining 0.36% and 0.92% respectively, while the US dollar index remained largely stable. Indian government bonds are expected to extend gains in early deals on Thursday, as oil prices remain steady and market sentiment improves amid growing optimism over a U.S.-Iran peace deal, as reported by The Hindu BusinessLine. The rupee appreciated by 6 paise to 93.27 against the US dollar in early trade on Thursday, driven by retreating crude oil prices and a weakening American currency, providing additional support to market sentiment.
