Gift Nifty Today: Sensex and Nifty Likely to Open Higher Amid Positive Global Cues

The benchmark Indian equity indices, Sensex and Nifty 50, are expected to open on a positive note on Wednesday, supported by firm global cues and gains across major Asian markets. 

Investor sentiment, however, remains cautious as market participants closely monitor rising geopolitical tensions in West Asia, along with developments in the global commodities and currency markets. 

Previous Session: Markets Extend Gains 

Indian benchmark indices ended higher for the second consecutive session on March 17, supported by buying across key sectors. 

The Sensex advanced 567.99 points, or 0.75%, to close at 76,070.84. Meanwhile, the Nifty 50 gained 172.35 points, or 0.74%, to settle at 23,581.15. 

Gift Nifty Signals Positive Opening 

Early indicators suggest a firm start for domestic markets. Gift Nifty was trading near the 23,650 level, up about 68 points or 0.29% from the previous close of Nifty futures. 

The uptick indicates that Dalal Street could begin the trading session on a positive note. 

Asian Markets Trade Higher 

Asian equities were trading mostly higher in early trade on Wednesday, providing supportive cues for regional markets. 

Japan’s Nikkei 225 rose 1.38%, while the broader Topix index gained 0.95%. South Korea’s Kospi surged 2.8%, and the smaller Kosdaq index climbed 1.66%. Meanwhile, Australia’s S&P/ASX 200 traded largely flat. 

Read More: Centre Releases ₹81,502.62 Crore Under MGNREGS In FY26; Pending Liabilities At ₹18,862 Crore! 

West Asia Tensions Remain in Focus 

Geopolitical tensions continue to remain elevated as the conflict between the United States and Iran enters its third week. 

The situation has intensified following a series of airstrikes and counterattacks. Iran has reportedly launched missile and drone strikes targeting US bases, Israel and Gulf allies, including a drone attack near the US Embassy zone in Baghdad. 

Investors are closely watching developments in the region, as any escalation could influence crude oil prices and global market sentiment. 

US Markets Close Higher 

US equity markets ended the previous session on a positive note. The S&P 500 gained 0.25% to close at 6,716.09. 

The Nasdaq Composite advanced 0.47% to settle at 22,479.53, while the Dow Jones Industrial Average added 46.85 points, or 0.1%, to finish at 46,993.26. 

US Federal Reserve Meeting in Focus 

Investors are also closely tracking the ongoing US Federal Reserve policy meeting, which began on March 17. 

The two-day Federal Open Market Committee meeting is expected to conclude on March 18, with markets looking for guidance on the interest rate outlook and the broader economic situation. 

Currency Market Update 

The US Dollar Index (DXY), which measures the dollar’s strength against a basket of six major currencies, was trading 0.03% higher at 99.60. 

Meanwhile, the Indian rupee weakened slightly, depreciating 0.06% to close at 92.37 against the US dollar in the previous session. 

Crude Oil Prices Edge Lower 

Crude oil prices traded lower in early Wednesday trade. US West Texas Intermediate (WTI) crude declined around 1.4% to about US$94.86 per barrel. 

Brent crude, the global benchmark, also slipped nearly 0.90% to trade near US$102.42 per barrel. 

FII and DII Activity 

Foreign institutional investors remained net sellers in the Indian equity market on March 17, offloading shares worth ₹4,741.22 crore, according to provisional data. 

However, domestic institutional investors provided support by purchasing equities worth ₹5,225.32 crore during the session. 

Conclusion 

Indian markets are expected to start the day on a positive note, supported by gains in Asian equities and stable global cues. However, investors are likely to remain cautious as they monitor geopolitical developments in West Asia, commodity price movements and the outcome of the US Federal Reserve policy meeting. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.