Nifty, Sensex Set for Strong Start as GIFT Nifty Rises 350 Points

Indian stock markets, including Nifty 50 and Sensex, are likely to open with strong gains on April 8. This comes after positive signals from GIFT Nifty and rising trends in Asian markets.

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GIFT Nifty Up 350 Points

As of 7:35 am, GIFT Nifty was trading at 22,652.5, up by 1.5%. This shows that traders are expecting a positive start for Indian markets today.

Asian Markets Show Strong Recovery

Japan’s Nikkei jumped 6% after hitting a low in the previous session. Hong Kong’s Hang Seng and South Korea’s KOSPI also gained. However, Taiwan’s index remained in the red.

US Wall Street Ended Mixed

On April 7, US markets closed with mixed results. The Dow Jones fell by 0.91% and the S&P 500 dropped 0.23%, while Nasdaq stayed almost flat with a 0.1% gain.

But US stock futures turned positive later. Dow Jones futures rose 1.5% (750 points), and S&P 500 and Nasdaq futures were up by 1.6%.

Previous Session Saw Weakness

In the last trading session, Indian markets opened lower but recovered a bit during the day. Still, experts feel that the market trend remains weak in the short term.

Caution Ahead Due to Global Trade Tensions

Analysts suggest that even if markets bounce back today, volatility may continue due to global trade worries and developments related to US tariffs. Indian markets are in a better position due to lower tariffs and less dependence on US exports.

Key Levels to Watch

Shrikant Chouhan from Kotak Securities said that 22,000 is a crucial support level. If Nifty stays above it, the market might rise to 22,500 or even 22,600.

If it goes below 22,000, the index may fall to 21,800 and possibly 21,650. He advised traders to remain cautious in such uncertain conditions.

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