The markets may be in rush today. With several earnings lined up and a steady flow of domestic and global cues, investors seem to be taking a cautious approach. Early signals from Gift Nifty hint at a flat but mildly positive start, setting the stage for a wait-and-watch kind of day.
On April 29, Indian stock markets ended the day on a quiet note after a volatile session. The Sensex edged up by 70 points to close at 80,288, while the Nifty settled just 7 points higher at 24,336.
Key global and domestic cues to know on April 30, 2025
India-Pakistan tensions rise after Pahalgam attack
Pakistan has raised concerns about a possible military strike from India in the coming 24-36 hours, citing “credible intelligence.” This statement follows remarks by Indian Prime Minister Narendra Modi granted the military “complete operational freedom” to determine the response to the recent Pahalgam terror attack, as per PTI reports.
Asian markets
Cautious vibes swept through Asia’s trading floors this Wednesday as investors stayed on the sidelines, waiting for fresh economic data release. Japan managed to keep its footing, with the Nikkei 225 rising 0.14% and the Topix up 0.5%. In contrast, South Korea saw mild declines, with the Kospi slipping 0.2% and the Kosdaq down 0.25%. Over in Australia, the S&P/ASX 200 traded flat.
US market
Wall Street had another strong session on Tuesday, with all three major US indices finishing in the green. The Dow Jones Industrial Average led the way, climbing 0.75% to close at 40,527.62, marking its sixth straight day of gains, the longest streak since July. The S&P 500 also notched its sixth consecutive win, rising 0.58% to end at 5,560.83, while the Nasdaq Composite added 0.55%, closing at 17,461.32.
Trump latest tariff developments
Donald Trump is striking an upbeat note on U.S.-India trade ties. The US President said tariff talks with India are “coming along great” and a deal could be just around the corner. Adding to the momentum, Treasury Secretary Scott Bessent said that Washington is also deep in talks with Japan, while early outlines of a trade agreement with South Korea are beginning to take shape.
US dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was down 0.04% at 99.20 Wednesday 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 appreciated 0.25% to close at 85.25 to the dollar on April 29.
Crude oil
Crude oil prices saw a modest dip in early Wednesday trading. WTI crude fell by 0.28%, settling at $60.25 per barrel, while Brent crude edged down 0.29%, trading at $63.10.
FII, DII data
Foreign investors maintained their buying momentum on Tuesday, April 29, extending their streak to ten sessions. With a hefty inflow of Rs 2,385 crore, they have turned the tide after earlier pulling back a staggering Rs 35,000 crore in April. This buying spree, alongside continued support from domestic institutional investors (DIIs), who added Rs 1,369 crore to the market.
Gold rate today
Gold prices have seen a slight dip in international markets on April 29, with spot prices edging down to $3,300 per ounce and local prices in India settling around Rs 96,000-97,000 per 10 grams. This comes after a period of higher prices, which had surged to $3,500 globally and Rs 1 lakh in India.
Gold still holds its charm in India. As per Goodreturns, 10 grams of 24-carat gold rate today is Rs 97,980, while 22-carat gold costs Rs 89,810. For those preferring 18-carat gold, the price is Rs 73,490 for the same weight.
Key economic data to watch
Markets are gearing up for key economic updates. Investors will focus on the US GDP numbers, manufacturing PMI on Thursday, and unemployment figures on Friday. Meanwhile, the Euro Zone will release its core inflation data for April.