Pre-Market Update: Sensex, Nifty 50 Likely to Open 350-Points Higher on Early Signs of Easing U.S.-Iran Tensions

Pre-Market Update at 7:48 AM: The benchmark indices of the Indian stock market, BSE Sensex and Nifty 50, are likely to open on a positive note on Wednesday, supported by strong global cues. Optimism around the resumption of U.S.–Iran talks and early signs of easing tensions in the Middle East are boosting overall market sentiment.

Asian markets were trading in the green, while U.S. equities rallied overnight, with the S&P 500 approaching its record closing levels. As of 7:29 am, GIFT Nifty hovered around 24,228, up by 350 points from the previous close of Nifty futures, indicating a strong start for Indian equity benchmarks.

From a global standpoint, developments around U.S.–Iran peace talks remain a key trigger. U.S. President Donald Trump stated that discussions to end the Iran conflict could resume in Pakistan within the next two days, highlighting that both sides are keen to reach a deal. Meanwhile, China has also indicated its willingness to work towards restoring peace and stability in the Middle East.

On the macroeconomic front, the International Monetary Fund has slightly upgraded India’s economic growth forecast for 2026–27 to 6.5 per cent from 6.4 per cent earlier, despite ongoing geopolitical tensions. However, it lowered its global growth outlook to 3.1 per cent for 2026, trimming it by 0.2 percentage points.

India’s retail inflation, measured by the Consumer Price Index, edged up to 3.4 per cent in March from 3.21 per cent in February but remains below the Reserve Bank of India target of 4 per cent, providing comfort to policymakers.

Crude oil prices declined for a second straight session on hopes that renewed U.S.–Iran talks could ease supply concerns. Brent crude slipped 0.37 per cent to USD 94.44 per barrel after a sharp 4.6 per cent fall, while U.S. WTI crude dropped 1.04 per cent to USD 90.33 following a steep 7.9 per cent decline earlier.

The U.S. dollar hovered near six-week lows as improving sentiment around potential negotiations boosted risk appetite. The dollar index stood at 98.109.

From a derivatives perspective, the Put-Call Ratio stands at 1.08, indicating a slightly bullish undertone. Significant open interest on the Put side is concentrated at 23,800 and 23,500 levels, marking strong support zones. On the Call side, heavy open interest at 24,000 and 24,500 levels suggests strong resistance.

Technically, immediate support for the Nifty 50 is seen in the 23,650–23,690 zone, while resistance lies between 23,950 and 24,000 levels.

In the derivatives segment, Sammaan Capital and Steel Authority of India Limited remain under the F&O ban for April 15.

Institutional flows showed mixed sentiment. Foreign Institutional Investors were net sellers, offloading equities worth Rs 1,983.18 crore, while Domestic Institutional Investors bought shares worth Rs 2,432.30 crore.

On Monday, the domestic market ended sharply lower after a holiday break. The Sensex fell 702.68 points, or 0.91 per cent, to close at 76,847.57, while the Nifty 50 declined 207.95 points, or 0.86 per cent, to settle at 23,842.65. Markets remained closed on Tuesday on account of Dr. Babasaheb Ambedkar Jayanti.

Wall Street ended its latest session on a strong note. The Dow Jones Industrial Average rose 317.74 points, or 0.66 per cent, to 48,535.99. The S&P 500 gained 1.18 per cent to close at 6,967.38, while the Nasdaq Composite surged 1.96 per cent to 23,639.08, marking its tenth consecutive day of gains. Major technology stocks such as Nvidia, Amazon, and Microsoft led the rally.

In commodities, gold and silver prices extended gains for a second straight session. Gold rose to USD 4,855 per ounce after a 2 per cent jump in the previous session, while silver climbed to USD 79 per ounce during Asian trading hours, supported by easing geopolitical concerns.

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

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