Gift Nifty Today Slumps Over 120 Points: What It Signals for Nifty 50 and Sensex Opening – April 16 Prediction
Gift Nifty plunged 124 points in early trade on April 16, hinting at a weak start for Nifty 50 and Sensex. With global cues remaining negative, particularly from Nasdaq and Asian peers, Indian equities could face selling pressure in today’s session.
Key Highlights:
The Indian stock market is set for a cautious to weak start on Wednesday, April 16, 2025, as Gift Nifty traded deep in the red in early Asian trade. At 6:30 AM IST, Gift Nifty was down by 124 points or 0.53%, trading at 23,260.5, indicating a sharp gap-down opening for the benchmark indices—Nifty 50 and Sensex.
Global Market Cues: Pressure from Nasdaq Weakness
The bearish tone is largely influenced by weakness in US markets. The Nasdaq Composite ended lower overnight, shedding 8.32 points or 0.049% to settle at 16,823.17. Nasdaq futures also slipped by 66.50 points (-0.35%) during Asian hours. This weakness has set a cautious tone across global equities.
The S&P 500 and Dow Jones also closed marginally lower on Tuesday, pressured by concerns over higher interest rates and weak earnings guidance from key tech and industrial firms.
Asian Market Sentiment on April 16
Asian indices followed suit:
- Nikkei 225: Down 0.26% at 34,178.28
- KOSPI (South Korea): Down 0.19% at 2,472.64
- Hang Seng (Hong Kong): Up 0.37% at 21,495.76 (marginal gains despite regional weakness)
- SSE Composite (Shanghai): Down 0.12% at 3,258.97
- SZSE Component (Shenzhen): Down 0.45% at 1,894.93
Only the Hang Seng Index showed resilience, possibly supported by stronger-than-expected March industrial data from China.
European Futures and Currency Movement
European stock futures are trading flat, with FTSE and DAX futures showing marginal gains. However, upside remains capped as investors await more corporate earnings and macroeconomic data from the region.
The US Dollar Index remained firm at 105.20, while crude oil prices hovered around $90 per barrel, adding to inflationary concerns.
Sensex and Nifty 50 Prediction: What to Expect
With Gift Nifty pointing to a 100+ point drop, the Nifty 50 may open below the 23,300 level, while the Sensex could slip below 76,900. Key levels to watch:
- Nifty 50 Support: 23,200 and 23,100
- Nifty 50 Resistance: 23,400 and 23,500
- Sensex Support: 76,800 and 76,650
- Sensex Resistance: 77,150 and 77,300
Factors to Watch Today
- Q4 Earnings: Results from key IT and banking stocks will impact sentiment.
- FIIs/DIIs Activity: Recent FII inflows have supported rallies; any reversal could weigh on the indices.
- India VIX: The volatility index rose marginally on Monday and will be watched closely for intraday swings.
- Geopolitical Tensions: Developments in the Middle East and US-China trade rhetoric could inject further volatility.
Technical View
Technical indicators on the Nifty 50 daily chart suggest an overbought market, with RSI above 70. A cooling-off phase is likely unless global sentiment improves. A close below 23,200 could lead to further downside.
Conclusion
Today’s market opening is likely to be dominated by global cues, especially the negative sentiment flowing in from Wall Street and broader Asian peers. While domestic fundamentals remain strong, traders are advised to stay cautious, especially during the first half of the session. High intraday volatility cannot be ruled out.
Keep an eye on Gift Nifty updates and opening bell movements for short-term trading cues.
The Hindustan Herald Is Your Source For The Latest In Business, Entertainment, Lifestyle, Breaking News, And Other News. Please Follow Us On Facebook, Instagram, Twitter, And LinkedIn To Receive Instantaneous Updates. Also Don’t Forget To Subscribe Our Telegram Channel @hindustanherald
