GIFT Nifty Signals Gap-Down Start For Sensex, Nifty As US-Iran Ceasefire Wobbles; Asian Shares In Red

Indian benchmark indices Sensex and Nifty 50 are likely to open on a weaker note on Thursday as the initial optimism surrounding the fragile two-week US-Iran ceasefire faded amid reports of violations of the truce agreement.

The GIFT Nifty was trading near 23,940, indicating a gap-down start for domestic equities as it reflected a discount of nearly 117 points from the previous close of Nifty futures.

Asian markets also traded lower, while Wall Street had ended sharply higher overnight, with the Dow Jones posting its biggest single-session percentage gain in a year.

On Wednesday, Indian equities had staged a strong rally after the ceasefire announcement and the Reserve Bank of India’s policy decision. The Sensex surged 2,946.32 points, or 3.95%,

to close at 77,562.90, while the Nifty 50 climbed 873.70 points, or 3.78%, to settle at 23,997.35.

Ajit Mishra, SVP Research at Religare Broking, said the sustainability of the sharp rally will depend on continued buying momentum as well as stability in crude oil prices and global cues. He added that traders may continue to focus on stock-specific opportunities, especially in rate-sensitive sectors, while remaining cautious amid elevated volatility.

Asian markets under pressure

Markets across Asia traded lower amid fresh doubts over whether the US-Iran ceasefire will hold.

Japan’s Nikkei 225 declined 0.59%, while the broader Topix fell 0.42%. South Korea’s Kospi slipped 0.90%, and the Kosdaq lost 0.74%.

Wall Street posts strong gains

US markets rallied sharply on Wednesday as investors welcomed the ceasefire agreement.

The Dow Jones Industrial Average jumped 1,326.33 points, or 2.85%, to 47,910.79. The S&P 500 advanced 2.51%, while the Nasdaq Composite climbed 2.80%.

Among notable movers:

• Nvidia rose 2.23%
• AMD gained 4.64%
• Amazon climbed 3.50%
• Apple added 2.13%
• Tesla slipped 0.98%

Airline stocks also rallied strongly, with Delta Air Lines, Southwest Airlines and United Airlines posting sharp gains.

Ceasefire concerns linger

The White House said the US will hold direct talks with Iran, with Vice President JD Vance leading the American delegation to Islamabad for discussions scheduled this weekend.

However, tensions remain elevated as sporadic fighting reportedly continued across the Middle East. Iranian strikes on Gulf states persisted, the Strait of Hormuz remained partially blocked, and Israel launched fresh attacks on Lebanon.

Crude oil rises again

Oil prices rebounded as concerns resurfaced over the durability of the ceasefire and ongoing restrictions in the Strait of Hormuz.

Brent crude futures rose 2.73% to $97.34 per barrel, while US WTI crude gained 3.17% to $97.40 per barrel.

Stocks to watch today

Signature Global
Reported a 5% decline in pre-sales to Rs 1,540 crore in Q4.

Delhivery
Investors bought a 1.6% stake from Nexus Venture Partners for Rs 530 crore.

ITC Hotels
GQG Partners sold nearly 1.29 crore shares worth Rs 197 crore.

Ashiana Housing
Sales bookings more than doubled to Rs 1,289.7 crore in Q4.

KEC International
Won fresh orders worth Rs 2,518 crore.

Shriram Finance
MUFG Bank acquired a 20% stake for Rs 39,618 crore.

Max Healthcare Institute
Signed a deal to acquire a controlling stake in Kalinga Hospital.

Prestige Estates
Pre-sales rose 10% to Rs 7,697 crore.

Hyundai Motor India
Announced price hikes of up to 1% from next month.

NTPC
Signed an MoU with Électricité de France for nuclear projects.

Zydus Lifesciences and Biocon
Received US approval for generic dapagliflozin tablets used in diabetes treatment.