Stock Market Rally: GIFT Nifty up 400 points implies strong start after long weekend

The GIFT Nifty, an early indicator of how Indian equity markets are likely to start off trading, is currently up 400 points, implying yet another gap up start for India’s equity market indices, Sensex and the Nifty 50, on Tuesday, April 15.

Indian equities will resume trading today after an extended weekend, as trading was shut on Monday on account of a holiday.

The markets will be reacting to two days of global cues and on both days, Wall Street has delivered a positive handover, resulting in a 1,000-point surge on the Dow Jones.
On Friday, the Nifty opened gap up and managed to sustain its gains, ending 450 points higher. The index had come back after a holiday on Thursday and had reacted to two days of global cues back then as well.

Earnings will gather some pace in today’s session as stocks like IREDA, ICICI Lombard, ICICI Prudential, GM Breweries will be reporting their March quarter results today. IREDA has already shared its business update for the quarter, earlier this month.

One should also watch out for auto stocks after US President Donald Trump said that he wants to “help out some auto companies” as they need time to move manufacturing to the US.

However, Pharma stocks will also be in focus after the Trump administration has initiated probe on the national security impact under section 232. Trump had earlier warned of Pharma tariffs at “never seen before levels.”