After a strong rally to kick off the week, Indian equities are likely to catch their breath today. Early trends from Gift Nifty show a slight dip of 0.05%, pointing towards a flat-to-muted opening for key benchmarks like the Sensex and Nifty. With a fresh trading session ahead, investors will be watching both global cues and domestic updates closely to see where the markets head next.
On Monday, April 28, the markets wrapped up on a high note. The Sensex surged 1,005.84 points, or 1.27%, to settle at 80,218.37, while the Nifty climbed 289.15 points, or 1.20%, to end at 24,328.50.
Key global and domestic cues to know on April 29, 2025
Asian markets
Asia-Pacific markets got off to a slow and cautious start as investors kept a close eye on two big factors: the looming impact of U.S. President Donald Trump’s tariffs and a wave of key earnings reports expected from Wall Street. South Korea’s Kospi dipped slightly by 0.13%, but the tech-heavy Kosdaq index managed a modest gain of 0.43%. Australia’s S&P/ASX 200 inched up by 0.38% in early trade. Over in Japan, markets remained shut for a public holiday.
US market
Wall Street wrapped up a mixed session overnight, with the S&P 500 barely inching up by 0.06% to close at 5,528.75, marking its fifth consecutive day of gain. The Dow Jones Industrial Average showed more strength, climbing 114 points, or 0.28%, to finish at 40,227.59. On the flip side, tech stocks struggled a bit as the Nasdaq Composite slipped 0.1% to end the day at 17,366.13.
US dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was down 0.07% at 99.08 Tuesday morning. The index evaluates the strength or weakness of the US dollar in comparison to major currencies. The basket contains currencies such as the British Pound, Euro, Swedish Krona, Japanese Yen, Swiss Franc, etc. The rupee depreciated 0.49% to close at 85.03 to the dollar on April 29.
Crude oil
Crude oil prices edged down slightly in early Tuesday trading. WTI crude slipped 0.08% to $62.00 a barrel, while Brent crude dipped 0.16% to $65.75.
FII, DII data
Foreign investors continued their shopping spree in Indian markets for the ninth session in a row on Monday, April 28, pumping in Rs 2,474 crore. With this steady flow of funds, FIIs have now swung back to being net buyers for the month, wiping away the heavy outflows of nearly Rs 35,000 crore seen earlier. On the other hand, domestic institutional investors (DIIs) also stayed upbeat, adding Rs 2,817 crore worth of stocks for the second straight day.
Gold rate today
Gold prices slipped slightly during the early hours of Tuesday’s Asian session, with the precious metal trading near $3,335 per ounce. The pullback comes as the US Dollar shows a mild recovery and diplomatic tensions between the US and China ease a bit, reducing gold’s safe-haven appeal.
Meanwhile, in India, gold continues to shine brightly for buyers. According to Good Returns, the price of 10 grams of 24-carat gold rate today stands at Rs 97,520, while 22-karat gold is priced at Rs 89,390 for the same weight. For those opting for 18-karat gold, it costs Rs 73,140 for 10 grams.
Key economic updates to track
Markets are set for action as major economic data rolls in from the US and Euro Zone. Investors are eyeing the US GDP numbers on Wednesday, manufacturing PMI data on Thursday, and unemployment rate figures on Friday. Meanwhile, the Euro Zone will release its core inflation (CPI) data for April.
Earnings, data, and auto sales
Markets are also gearing up for a flurry of updates across sectors. Investors will keep a close eye on monthly auto sales figures due on May 1, alongside key macro indicators like the Index of Industrial Production (IIP) and HSBC’s final Manufacturing PMI data. On the earnings front, major companies including BPCL, IOC, Kotak Mahindra Bank, SBI, Bajaj Finance, TVS Motor, and UltraTech Cement are lined up to report their quarterly numbers, adding to the action.