Indian Markets Likely to Open Marginally Strong  

Mumbai, May 4: Indian markets are likely to open on a positive note supported by a strong Gift Nifty and steady crude oil prices. This comes after US President Donald Trump said that the US will escort commercial ships through the Strait of Hormuz.  
 
Gift Nifty Futures for the May 26, 2026, contract were trading at 24,252.50, up 42.50 points or 0.18 per cent, as of 08:13 on May 4 — signalling a gap-up open of approximately 250 points on the Nifty 50 relative to its last close of 23,997.55. The move, while modest, reflects a measured recovery in sentiment driven by Trump’s Hormuz announcement and a partial retreat in crude oil prices. 

Asian Markets 

Asian markets traded mixed on Monday led by gains in China and Japan. Indonesia and Pakistan cut into regional losses while Australia traded largely flat ahead of major global cues. 

Hong Kong’s Hang Seng Index jumped 1.70 per cent to 26,213.62 while Japan’s Nikkei 225 gained 0.38 per cent to 59,513.12 riding on the positive cues from softer crude and improved global risk sentiment. Shanghai’s SE Composite Index rose marginally by 0.11 per cent to 4,112.16 while Malaysia’s KLCI (+0.49 per cent), Vietnam’s HNX 30 (+0.77 per cent) and Thailand’s SET (+0.13 per cent) also traded in positive territory. Indonesian JSX Composite Index dropped sharply by 2.03 per cent to 6,956.80 amid broader macroeconomic worries while Pakistan’s KSE 100 declined 1.71 per cent to 162,994.17. Australia’s S&P ASX All Ordinaries Index traded lower by 0.32 per cent at 8,925.60.

Oil Prices 

Oil prices softened on Monday as Trump said that the US will escort commercial ships through the Strait of Hormuz. Trump further added that if Iran attacks any boats that are being escorted by the US military, Washington will respond “rapidly and disproportionately.” This development brought some stability to oil prices on Friday but they continue to trade well supported above $100-per-barrel as there is no official peace deal signed between the US and Iran and Hormuz traffic still remains largely halted. Brent crude futures for June delivery fell 64 cents, or 0.59 per cent, to $107.53 a barrel while US West Texas Intermediate crude futures lost 84 cents, or 0.82 per cent, to $101.10 per barrel. Both contracts settled lower on Friday with Brent declining $2.23 and WTI tumbling $3.13. 

US Markets 

On Wall Street, the markets ended mixed on Friday led by gains in technology stocks. Nasdaq Composite rose 0.89 per cent to close at 25,114.44 while S&P 500 ended higher by 0.29 per cent at 7,230.12. However, Dow Jones Industrial Average fell 0.31 per cent to 49,499.27 while NYSE Composite declined 0.45 per cent to 23,041.15. Uncertainty surrounding crude oil prices, geopolitical tensions and Fed rate hike trajectory continued to weigh on market sentiment. 

Friday Session of Indian Markets 

Indian markets ended sharply lower on last Friday, led by fresh bouts of selling from FIIs. Benchmarks were pressured by rising crude oil prices and a falling rupee during trade on Friday. On the BSE, Sensex ended at 76,913.50, down 582.86 points or 0.75 per cent while Nifty 50 settled at 23,997.55, down 180.10 points or 0.74 per cent breaking below the key psychological level of 24,000. Most sectors traded in the red with banking, metal and realty major laggards on the day while IT stocks remained supportive. 

Source:

• nseindia.com