Sensex Today: The GIFT Nifty, which serves as an early indicator for the likely opening of India’s benchmark indices—Sensex and Nifty—is trading over 450 points higher, suggesting a strong gap-up start to Friday’s session.
Indian equity markets will be reacting to two days’ worth of global cues today, having remained closed on Thursday due to a holiday.
Global Cues
On Wednesday, US markets witnessed a sharp rally after former President Donald Trump announced a 90-day suspension of reciprocal tariffs on up to 75 countries, potentially including India. The Dow Jones surged over 3,000 points in a single session—its biggest single-day gain since 2008.
However, that optimism was short-lived, as US equities reversed course on Thursday. The Dow Jones fell more than 1,000 points, giving up roughly one-third of the previous day’s gains.
However, the US move to hike total duties on China to 145 per cent, while making notable exceptions like copper, pharmaceuticals, semiconductors, and energy products, among others, has kept global markets jittery, with Asia-Pacific markets trading lower.
Japan’s Nikkei 225 was down 4.55 per cent, South Korea’s Kospi was down 1.66 per cent, and Australia’s S&P/ASX 200 wwas lower by 1.93 per cent.
Markets in the Asia Pacific region were tracking the overnight weakness on Wall Street, with US stock futures sliding on Thursday night, after the lower close in the previous session on Wall Street.