The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open marginally higher on Monday, tracking upbeat cues from global markets. According to reports from Moneycontrol, GIFT Nifty was trading lower at around 24,243, indicating a flat to positive start for the Indian equity markets. Sentiment improved after US President Donald Trump announced an effort to free up ships stranded in the Strait of Hormuz to aid neutral countries in the US-Iran war. The Gift Nifty was trading around 24,240 level, a premium of nearly 142 points from the Nifty futures' previous close, indicating positive trends for the Indian benchmark index.
The Indian stock market remained under pressure on April 30, weighed down by rising geopolitical tensions and a spike in Brent crude prices to wartime highs. As reported by Moneycontrol, the Sensex cracked 582.86 points, or 0.75%, to close at 76,913.50, while the Nifty 50 settled 180.10 points, or 0.74%, lower at 23,997.55. For the week, Nifty 50 gained 0.42% despite the Thursday decline, though the previous session saw a sharp surge before the current pressure set in.
Global markets showed mixed performance overnight, with Asian shares climbing as strong corporate earnings kept the technology sector buoyant. According to Moneycontrol, the S&P 500 gained 21.11 points, or 0.29%, to 7,230.12 and the Nasdaq Composite gained 222.13 points, or 0.89%, to 25,114.44, reaching record closing highs on Friday. The Dow Jones Industrial Average fell 152.87 points, or 0.31%, to 49,499.27, while the U.S. dollar index remained flat at 98.144. Oil prices eased after Trump's announcement but remained supported above $100 due to lack of a U.S.-Iran peace deal.
Asian currencies showed mixed performance against the US dollar, with the Philippines Peso emerging as the top gainer, appreciating by 0.233%, while the Thai Baht declined by 0.385%, making it the weakest among listed currencies. The Japanese Yen edged higher by 0.013%, and the Chinese Renminbi and Malaysian Ringgit posted notable gains of 0.157% and 0.296% respectively. Gold remained steady after a second weekly decline, with traders monitoring progress toward a US-Iran deal and Trump's plan to guide ships through the Strait of Hormuz.
Foreign Institutional Investors (FIIs) extended their selling streak for the ninth consecutive session on April 30, offloading equities worth more than ₹8,000 crore. In contrast, Domestic Institutional Investors (DIIs) maintained their buying momentum for the sixth straight session, investing ₹3,487 crore in the equity market, as reported by Moneycontrol. This divergence in institutional flows highlights the continued domestic support amid foreign selling pressure.
