Indian Stock Market Today: GIFT Nifty Signals Weak Start Amid US-Iran Tensions, Rising Oil Prices

Indian Stock Market Today: GIFT Nifty Signals Weak Start Amid US-Iran Tensions, Rising Oil Prices​

Market Opening Outlook​

The Indian stock market is poised for a negative start on Monday, with benchmark indices Sensex and Nifty 50 expected to open lower. GIFT Nifty was trading around the 22,635 level, reflecting a discount of nearly 132 points compared to the previous close of Nifty futures, indicating subdued sentiment at the opening bell.

Global Cues Weigh on Sentiment​

Investor sentiment remains cautious as markets react to ongoing developments in the US-Iran war. Rising crude oil prices continue to act as a key concern, adding pressure on global and domestic equities.

Asian markets traded higher, while the US stock market ended on a mixed note. Despite this, Wall Street indices posted strong gains for the previous week.

Previous Trading Session Recap​

The Indian stock market remained closed on Friday, April 3, 2025, on account of Good Friday.

In the last trading session on Thursday, benchmark indices recovered from earlier losses and ended higher for the second consecutive session, supported by late buying activity.

The Sensex gained 185.23 points, or 0.25%, to close at 73,319.55, while the Nifty 50 rose 33.70 points, or 0.15%, to settle at 22,713.10.

“Market sentiment remains fragile and depends on the developments in the US-Iran war, with crude oil prices and foreign fund flows expected to remain key drivers of market direction in the near term,” said Siddhartha Khemka, Head of Research, Wealth Management at Motilal Oswal Financial Services Ltd.

Key Global Triggers for Indian Stock Market​

Asian Markets​

Asian markets traded higher as investors monitored geopolitical developments. Japan’s Nikkei 225 rose 0.62% and the Topix gained 0.23%. South Korea’s Kospi surged 1.8%, while the Kosdaq advanced 0.98%. Markets in Hong Kong, China, and Taiwan remained closed due to a holiday.

Wall Street Performance​

US stock markets ended mixed on Thursday amid easing diplomatic signals from the Middle East.

The Dow Jones Industrial Average declined 0.13% to 46,504.67, while the S&P 500 edged up 0.11% to 6,582.69. The Nasdaq Composite rose 0.18% to close at 21,879.18.

On a weekly basis, the S&P 500 gained 3.36%, the Nasdaq surged 4.44%, and the Dow advanced 2.96%.

Among stocks, Nvidia rose 0.93%, Microsoft gained 1.11%, AMD climbed 3.47%, while Tesla declined 5.42%.

US-Iran War Developments​

US President Donald Trump issued a fresh warning to Iran, setting a deadline to reopen the Strait of Hormuz. He warned of severe consequences if Iran failed to comply or accept a truce deal, escalating geopolitical tensions further.

US Nonfarm Payrolls​

US job growth rebounded sharply in March. Nonfarm payrolls increased by 178,000 jobs, the highest since December 2024, following a revised decline of 133,000 jobs in February. Economists had expected a rise of 60,000 jobs.

Japanese Bond Yields​

Japanese government bond yields climbed to near three-decade highs. The 10-year yield rose 2 basis points to 2.400%, its highest level since February 1999, while the five-year yield increased to 1.815%.

Crude Oil Prices​

Crude oil prices continued to rise amid concerns over supply disruptions linked to the US-Iran conflict. Brent crude gained 1.6% to $110.74 per barrel, while US WTI crude rose 0.6% to $112.25 per barrel.

Gold Prices Today​

Gold prices declined by more than 1%, weighed down by a stronger US dollar and reduced expectations of Federal Reserve rate cuts. Spot gold fell 1.2% to $4,620.68 per ounce, while US gold futures dropped 0.7% to $4,647.10. Silver prices also slipped 1% to $72.28 per ounce.

Dollar Movement​

The US dollar remained steady. The dollar index stood at 100.2, while the euro dipped 0.13% to $1.151 and the British pound traded at $1.3187. The Japanese yen weakened to 159.77 per dollar.

Banking Stocks in Focus​

Banking stocks including HDFC Bank, Yes Bank, IDBI Bank, Kotak Mahindra Bank, Union Bank of India, and RBL Bank are expected to remain in focus after releasing their Q4 business updates over the weekend, ahead of the Q4 results season for FY2026.