Indian stock market: 10 key things that changed for market over weekend- Gift Nifty, US tech stocks rally to gold prices

Indian stock market: The domestic equity market benchmark indices, Sensex and Nifty 50, are expected to open higher on Monday, following a rally in global markets.

Asian markets traded higher, while the US stock market surged on Friday, with the S&P 500 and Nasdaq logging their biggest one-day percentage gains since November 6, the day after the US presidential election.

This week, investors will monitor some key stock market triggers, including the US Federal Reserve’s monetary policy decision, Donald Trump’s tariff announcements, flow of foreign funds, domestic and global macroeconomic data, and other key global market cues.

The Indian stock market was closed on Friday on account of Holi 2025.

On Thursday, domestic equity benchmark indices ended lower, with the Sensex recording a fifth consecutive session of losses.

The Sensex declined 200.85 points, or 0.27%, to close at 73,828.91, while the Nifty 50 settled 73.30 points, or 0.33%, lower at 22,397.20.

“We expect the market to remain range-bound with some volatility and sector rotation, driven by global market cues and cautiousness ahead of the US Fed’s interest rate decision on Wednesday,” said Siddhartha Khemka, Head – Research, Wealth Management, Motilal Oswal Financial Services Ltd.

Here are key global market cues for Sensex today:

Asian Markets

Asian markets traded higher following a rally on Wall Street. Japan’s Nikkei 225 gained 0.99%, while the Topix index rallied 1.10%. South Korea’s Kospi index surged 1.23%, while the Kosdaq rose 0.32%. Hong Kong’s Hang Seng index futures indicated a stronger opening.

Gift Nifty Today

Gift Nifty was trading around 22,567 level, a premium of nearly 123 points from the Nifty futures’ previous close, indicating a gap up start for the Indian stock market indices.

Wall Street

US stock market ended sharply higher on Friday led by a rally in tech-related megacap stocks.

The Dow Jones Industrial Average surged 674.62 points, or 1.65%, to 41,488.19, while the S&P 500 jumped 117.42 points, or 2.13%, to 5,638.94. The Nasdaq Composite closed 451.07 points, or 2.61%, higher at 17,754.09.

Tesla share price rallied 3.9%, Nvidia stock price jumped 5.3%, Advanced Micro Devices shares spiked 2.92%, while Microsoft stock price gained 2.58%. Every one of the so-called Magnificent 7 artificial intelligence-related momentum stocks advanced.

US Consumer Sentiment

US consumer sentiment plunged in March and inflation expectations soared. The University of Michigan Surveys of Consumers said its Consumer Sentiment Index dropped to 57.9 this month from a final reading of 64.7 in February. Economists polled by Reuters had forecast the index falling to 63.1.

Consumers’ 12-month inflation expectations jumped to 4.9%, from 4.3% in February. Over the next five years, consumers saw inflation running at 3.9% compared with 3.5% in February.

Russia-Ukraine War

Russia launched an overnight drone attack on Kyiv, Vitali Klitschko, mayor of the Ukrainian capital said. In a post on the Telegram messaging app, Klitschko said that Ukrainian air defence units were trying to repel the attack. Reuters’ witnesses heard blasts in parts of the city in what sounded like air defence systems in operation.

China Stimulus

China’s State Council unveiled what it called a “special action plan” to boost domestic consumption, featuring measures including increasing residents’ income and establishing a childcare subsidy scheme, Reuters reported. The plan was issued to all regions and departments to “vigorously boost consumption, expand domestic demand in all directions, improve consumption capacity by increasing income and reducing burdens,” a report from the Council said.

Dollar

The US dollar hovered close to a five-month low against its major peers. The dollar index, which measures the currency against the euro, yen and four other counterparts, was little changed at 103.71, less than 0.5% away from a five-month trough of 103.21 reached last Tuesday.

The euro stood not far from a five-month peak, fetching $1.0881. The dollar was little changed at 148.70 yen, and weakened 0.15% to 7.2266 yuan in the offshore market. Sterling slipped 0.08% to $1.2927.

US Treasury Yields

US Treasury yields rose on concerns over the potentially inflationary impact of tariffs as trade wars. The yield on benchmark US 10-year notes rose 3.2 basis points (bps) to 4.308%, while the 2-year note yield rose 6.2 bps to 4.015%.

Gold Price Today

Gold prices firmed after crossing $3,000 for the first time last week, on rising safe-haven demand. Spot gold rose 0.2% to $2,989.79 an ounce. Bullion rose above the key $3,000/oz milestone to notch a record high at $3,004.86 on Friday. US gold futures eased 0.1% to $2,997.30.

Crude Oil Prices

Crude oil prices rallied over 1% after the US vowed to keep attacking Yemen’s Houthis until the Iran-aligned group ends its assaults on shipping, Reuters reported. Brent futures rose 1.02% to $71.30 a barrel, while US West Texas Intermediate crude futures gained 1.1% to $67.90 a barrel.

(With inputs from Reuters)

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