Stock Market Today: GIFT Nifty Signals Gap-Down Opening as Trump Escalation Warning Weighs; Brent Crude Rebounds Above $105

Indian equities are set for a weak start on April 2, with GIFT Nifty indicating a sharp gap-down opening after global tensions intensified. Rising crude oil prices and geopolitical uncertainty are likely to keep markets volatile through the session.

GIFT Nifty Drops Over 500 Points After Trump’s Warning​

The GIFT Nifty, a key early indicator of the Nifty 50, fell more than 500 points to 22,318, compared to the previous close of 22,679.40.
The decline follows a strong statement from US President Donald Trump, who signaled further military action against Iran in the coming weeks. He said the United States would escalate strikes if Iran does not agree to terms, adding that critical infrastructure could be targeted.

Crude Oil Prices Surge Amid Geopolitical Tensions​

Oil markets reacted sharply to the developments.

• Brent crude rebounded more than 5% to trade above $105 per barrel
• WTI crude rose up to 3.2% to $103.27 per barrel

Earlier in the session, both benchmarks had declined, with Brent slipping to around $99.70 and WTI dropping near $97.70 before reversing sharply.

The spike in crude prices is expected to weigh on inflation-sensitive sectors and increase input cost pressures across industries.

Stocks in Focus: Adani, Airlines, Cement, Retail​

Several stocks and sectors are expected to remain active today:

• Adani Enterprises, Adani Ports: In focus on merger developments involving key arms
• Cement Stocks: UltraTech Cement, ACC, and Ambuja Cement may see traction as prices are expected to rise by Rs 20 to 50 per bag
• InterGlobe Aviation: On watch due to a fuel surcharge hike
• Retail and Financials: V-2 Retail, Bansal Wire, Tamilnad Mercantile Bank after Q4 updates
• Auto Stocks: Ola Electric and TVS Motor following March sales data

Additionally, NMDC, Bharti Airtel, Wipro, Bosch, Prestige Estate Projects, DCM Shriram, NCC, and Gallant Ispat are in focus due to company-specific triggers.

Fertiliser, Logistics Stocks in Spotlight After Government Meeting​

Fertiliser, shipping, and logistics companies are drawing attention after the Prime Minister chaired a CCS meeting. Market participants are watching for potential policy interventions.

Banking Sector Outlook: Deposit Growth in Focus​

According to Citi, deposit growth will be a key swing factor for Indian banks going into FY26.

• System deposits saw outflows of Rs 1.79 lakh crore in the last fortnight
• Q4-to-date deposit growth stands at 0.6%, lower than the typical 1.7% to 2.3% range

The brokerage highlighted that tight liquidity conditions are reflected in weak mid-March trends, although credit growth is expected to remain relatively stable.

Paint Stocks Under Pressure After Target Price Cuts​

HSBC has maintained a Hold rating on Asian Paints and Berger Paints but reduced target prices:

• Asian Paints: Target cut to Rs 2,550
• Berger Paints: Target cut to Rs 470

The brokerage noted that Q4 performance may be supported by dealer inventory build-up rather than underlying demand. It also flagged potential demand impact from price hikes.

Key Events to Watch Today​

Markets will track several important triggers during the session:

• Sensex expiry
• Anchor lock-in expiry for Jinkushal Industries
• IPO listings: Sai Parenteral, Powerica, Amir Chand Jagdish Kumar
• Economic data: India Manufacturing PMI and US Initial Jobless Claims

Consumer Stocks: Selective Opportunities Remain​

Jefferies highlighted that while Indian consumer stocks have delivered strong long-term returns, current headwinds have reduced investor interest.

The brokerage sees selective opportunities in:

• Marico, TCPL, Britannia
• Colgate and Dabur, now trading below 35 times FY27 earnings

Market Outlook​

With geopolitical tensions escalating and crude prices rising sharply, markets are likely to remain under pressure in the near term. Investors will closely monitor global developments, commodity trends, and key macroeconomic data for further direction.