Indian equities are poised for a positive start, with the GIFT Nifty indicating a start in the green. Global signals remain mixed: Wall Street ended in the red after US Fed Chair Jerome Powell raised red flags over the economic fallout from steep tariff hikes, stoking fears of stagflation. Meanwhile, Asian peers like Japan’s Nikkei and South Korea’s Kospi showed early gain. In the last trading session, the Sensex surged 309 points to 77,044 and the Nifty added nearly 109 points to end at 23,437.
Key global and domestic cues to know on April 17, 2025
Asian Markets
Asia-Pacific markets mostly advanced on Thursday, with Hong Kong’s Hang Seng Index leading the way, rising over 1%. Japan’s Nikkei 225 and South Korea’s Kospi followed with modest gains, while the smaller Kosdaq jumped over 1% after the Bank of Korea kept interest rates unchanged at 2.75%, in line with expectations. Australia’s ASX 200 edged up slightly, and Mainland China’s CSI 300 was the only major laggard, slipping marginally.
US markets
Wall Street closed sharply lower on Wednesday, with major indices posting steep losses as tech stocks took a heavy hit. The Dow Jones Industrial Average fell 699.57 points, or 1.73%, to settle at 39,669.39. The S&P 500 slid 2.24% to 5,275.70, dragged down by weakness in the information technology sector. The Nasdaq Composite tumbled 3.07% to 16,307.16, inching closer to bear market territory as it now sits nearly 19% below its recent closing high.
Powell’s warnings: Tariffs disrupting economic stability
Federal Reserve Chair Jerome Powell has raised alarms about the disruptive effects of President Donald Trump’s tariff policies on the US economy. Speaking at the Economic Club of Chicago, Powell revealed that the tariff hikes are much larger than anticipated, complicating the Federal Reserve’s task of navigating the economic landscape. These sweeping changes have introduced uncertainties, especially concerning long-term impacts. Powell cautioned that the US could face a rare economic challenge such as rising inflation paired with rising unemployment.
US-China trade war intensifies: Tariffs and tensions soar
The ongoing trade dispute between the United States and China has reached a new level of intensity, as the US imposes an eye-popping 245% tariff on Chinese imports. This sharp escalation has pushed the trade war into uncharted waters, with both nations bracing for further fallout. In a defiant response, China has signaled its willingness to resume negotiations but on its terms, urging the US to halt its aggressive tactics, including threats and blackmail.
US dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was up 0.13% at 99.51 on Thursday 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 0.10% to close at 85.68 to the dollar on April 15.
Crude oil
Crude oil prices inched higher early Thursday, with West Texas Intermediate (WTI) rising 0.85% to $63.00 per barrel and Brent crude gaining 0.70% to trade at $66.09. The uptick came amid cautious sentiment in broader markets.
FII, DII data
Foreign investors extended their buying momentum on April 16, pumping Rs 3,936 crore into Indian equities, a day after making their largest single-day purchases. Meanwhile, domestic institutional investors booked profits, selling shares worth Rs 2,513 crore.
Gold rate today
Gold prices in India surged to a new all-time high on Wednesday, April 16. On the Multi Commodity Exchange (MCX), gold reached a peak of Rs 94,919/10 gram.
According to Goodreturns, 24-carat gold price today is priced at Rs 96,180 per 10 grams, while 22-carat gold stands at Rs 88,160. For 18-carat buyers, the cost is Rs 72,140 per 10 grams.
Earnings to watch today
A fresh round of quarterly earnings is set to roll out today, with key firms like Infosys, HDFC Life, Jio Financial Services, and Tata Elxsi among those reporting. Smaller companies like Mahindra EPC Irrigation and Indosolar will also reveal their financials.