Gift Nifty Gap-Up on Peace Hopes; Asian Markets Mostly Firmer 

Mumbai, April 15: On Wednesday morning, Gift Nifty opened gap up by a small amount to trade at 24,223.00, higher by 13.50 points or 0.06%. The gap-up in gift nifty futures indicates a positive opening for Indian equities today. Asian markets were rallying in muted fashion as hopes of resumption in US–Iran peace talks boosted risk appetite

Asian Markets

Pakistan Stock Exchange (KSE 100) saw the biggest jump in Asian trade today after gaining more than 3.14% to 1,65,634.85 on hopes for renewed US-Iran negotiations. Indonesia’s JSX Composite rose 2.34%, Thailand’s SET rose 1.15%, Japan’s Nikkei 225 rose 0.49% to 58,162.84 and Hong Kong’s Hang Seng rose 0.67% to 26,046.23. Shanghai Composite gained 0.13% and Australia’s ASX All Ordinaries was unchanged at the opening bell. KLCI of Malaysia rose 0.60%. Only Vietnam’s HNX 30 bucked the trend and declined marginally by 0.02%.

US-Iran peace talks

Talks to end the Iran war could resume in Pakistan over the next two days, U.S. President Donald Trump said on Tuesday, after the collapse of weekend negotiations ​prompted Washington to impose a blockade on Iranian ports. Pakistani, Iranian and Gulf officials stated that US and Iran’s negotiating teams could head back to Islamabad later this week. However, one senior Iranian official told Reuters that no such decision had been made regarding the date for talks. US Vice President JD Vance said while speaking at an event in Georgia yesterday that trust between Iran and US is lacking and “we’re not going to get a grand bargain anytime soon.” He added, “You are not going to solve that problem overnight.” 

Oil Prices

Oil continued to tumble for the second day as Brent traded lower at $94.27 a barrel while WTI eased to $90.24, as Strait of Hormuz supply route might open up soon. For Indian markets, the Gift Nifty gap-up suggests the Sensex and Nifty 50 are likely to open in positive territory, tracking the broadly constructive global cues. 

Source: www.nseindia.com