Pre-Market Update: Nifty, Sensex Likely to Open Higher on April 10 - Details Inside!

Pre-Market Update at 7:38 AM: Indian benchmark indices, the Sensex and Nifty 50, are likely to open on a positive note on April 10, tracking gains in global markets as investors assess the fragile two-week ceasefire between the U.S. and Iran.

Asian markets traded in the green, while U.S. equities ended higher overnight, supported by optimism around potential peace talks between the two nations. As of 7:14 am, GIFT Nifty hovered around 23,945, up 61 points from the previous close of Nifty futures, indicating a firm start for domestic equities.

Geopolitical tensions remain in focus. Iran’s newly appointed Supreme Leader, Mojtaba Khamenei, stated that the country would not let the U.S. and Israel go unpunished for alleged acts of aggression. Meanwhile, U.S. President Donald Trump has expressed doubts about the effectiveness of the ceasefire, adding uncertainty to the global outlook.

The U.S. economy expanded at an annualized rate of 0.5 per cent, according to the third estimate of GDP, revised down from 0.7 per cent. The initial estimate had pegged growth at 1.4 per cent for the fourth quarter, indicating a notable slowdown.

Inflation in the U.S. rose in line with expectations. The Personal Consumption Expenditures (PCE) price index increased by 0.4 per cent in February, following a 0.3 per cent rise in January. On a year-on-year basis, PCE inflation stood at 2.8 per cent.

Tata Consultancy Services (TCS) concluded FY26 on a strong note with improving sequential growth and robust deal wins. The company reported Q4FY26 revenue of Rs 70,698 crore, marking a 5.4 per cent quarter-on-quarter growth (+1.2 per cent in constant currency). Full-year FY26 revenue stood at Rs 267,021 crore, up 4.6 per cent year-on-year (-2.4 per cent in constant currency terms).

The company’s annualised AI revenue crossed USD 2.3 billion in Q4, reflecting strong traction in emerging technologies. Profitability remained robust, with FY26 operating margin at 25 per cent, up 70 basis points year-on-year, and net margin at 19.8 per cent, up 80 basis points—both at four-year highs.

TCS reported a total contract value (TCV) of USD 40.7 billion for FY26 and USD 12 billion in Q4, supported by three mega deals in the quarter and five during the year. The company also announced a final dividend of Rs 31 per share.

Oil prices remained volatile amid escalating tensions, including attacks on Saudi energy infrastructure and the continued closure of the Strait of Hormuz. Brent crude edged down 0.20 per cent to USD 93.51 per barrel, while U.S. WTI crude rose 0.2 per cent to USD 91.81 per barrel.

From a derivatives standpoint, the Put-Call Ratio (PCR) stands at 0.92. On the Put side, significant open interest is concentrated at the 23,500 and 23,800 strikes, indicating strong support levels. On the Call side, fresh open interest addition was seen between 23,800 and 24,500 strikes, with key resistance levels at 24,000 and 24,200.

The Nifty 50 needs to sustain above 23,833 to regain upward momentum, with potential upside towards the 24,000–24,080 zone. On the downside, immediate support is placed at 23,590, followed by a stronger support range of 23,305–23,320. Unless a breakout occurs above resistance, the index may continue to consolidate within this range.

Sammaan Capital and SAIL remain in the F&O ban list for April 10.

On the institutional front, FIIs remained net sellers for the 27th consecutive session, selling equities worth Rs 1,711.19 crore on April 9, while DIIs bought shares worth Rs 955.90 crore.

Indian markets ended sharply lower in the previous session. The Sensex declined 931.25 points, or 1.20 per cent, to 76,631.65, while the Nifty 50 fell 222.25 points, or 0.93 per cent, to close at 23,775.10.

U.S. markets ended higher, with the Dow Jones rising 0.58 per cent to 48,185.80, the S&P 500 gaining 0.62 per cent to 6,824.66, and the Nasdaq climbing 0.83 per cent to 22,822.42. Among stocks, Nvidia, Amazon, AMD, Apple, and Tesla posted gains, while Microsoft declined.

Gold prices edged lower but were set for a third weekly gain, rising 0.1 per cent to USD 4,773 per ounce, while silver prices increased 0.17 per cent to USD 75.85 per ounce.

Disclaimer: The article is for informational purposes only and not investment advice.

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