Nifty 50 Set for Cautious Open as Asian Markets Dip, Nasdaq Ends Lower
Weak global cues and a drop in Gift Nifty suggest a subdued start for Nifty 50 today. Asian indices are mixed, while Nasdaq closed in the red.
Key Highlights:
Nifty 50 Set for Soft Open on April 21 as Global Cues Stay Mixed
The Nifty 50 is expected to open with a mildly negative bias on Sunday, April 21, as Gift Nifty trades lower and early trade in Asia shows weakness. U.S. markets ended softer on April 17, while major Asian indices like the Nikkei 225 and Taiex opened in the red.
Gift Nifty and Global Snapshot (as of 6:45 AM IST)
| Index | Latest Value | Change | % Move | Timing (Local) |
|---|---|---|---|---|
| Gift Nifty | 23,858.00 | -42.5 | -0.18% | 06:41 AM IST |
| Nasdaq Composite | 16,286.45 | -20.71 | -0.13% | Apr 17, 5:15 PM EDT |
| Nikkei 225 | 34,362.18 | -368.10 | -1.06% | 09:59 AM JST |
| Kospi | 2,487.25 | +3.83 | +0.15% | 09:54 AM KST |
| Taiex | 19,211.57 | -183.46 | -0.95% | 09:15 AM TST |
| SSE Composite | Awaited | — | — | Opens 7:00 AM IST |
| SZSE Component | Awaited | — | — | Opens 7:00 AM IST |
Gift Nifty Indicates Weak Start for Domestic Market
The Gift Nifty was trading at 23,858, down 42.5 points or 0.18%, suggesting a subdued start for Indian equities. This comes after a strong session on April 17, where the Nifty 50 closed at 23,851.65, up 414 points or 1.77%.
- Futures point to gap-down or flat start
- Reflects global caution ahead of heavy macro week
- No support from U.S. tech indices
Nasdaq Close Shows Tech Pressure Continues
The Nasdaq Composite posted a modest loss of 20.71 points (-0.13%) on April 17. Despite multiple intraday rallies, the index ended red as traders locked profits ahead of a busy earnings calendar.
- Open: 16,399.97
- Close: 16,286.45
- Low: 16,181.17
- Tech-heavy sentiment dragged across Asia
Asian Markets: Mixed Tone Before Chinese Market Opens
With China’s SSE and SZSE yet to open and Hang Seng still awaiting its 6:45 AM IST bell, early regional sentiment is split. Taiwan and Japan are deep in the red, while South Korea is showing mild gains.
Key Asian Market Trends (as of 6:45 AM IST)
| Index | % Change | Status |
|---|---|---|
| Nikkei 225 | -1.06% | Weak |
| Taiex | -0.95% | Bearish |
| Kospi | +0.15% | Mildly Green |
| SSE | Awaited | — |
| SZSE | Awaited | — |
| Hang Seng | Not Open Yet | — |
Technical Levels to Watch for Nifty 50
With pressure from global equities and weakness in Gift Nifty, the Nifty 50 could retest key support zones unless supported by domestic inflows.
| Technical Level | Value |
|---|---|
| Immediate Support | 23,720–23,750 |
| Resistance Zone | 23,900–23,980 |
| Previous Close | 23,851.65 |
| 52-Week High | 26,277.35 |
Sectoral Outlook – April 21 Watchlist
- IT & Tech: May underperform after weak Nasdaq close
- Banking/Financials: Likely neutral; earnings in focus
- Pharma & FMCG: Defensive bias could attract flows
- Metals & Infra: Sensitive to China market open
Market Forecast – Nifty 50 Expected to Open Flat to Lower
Based on global cues, the Nifty 50 is likely to open slightly lower or near flat. Volatility may remain elevated due to:
- Pending cues from China’s markets
- U.S. Fed speakers and GDP data this week
- Crude and currency fluctuations
- Domestic earnings announcements
Final Word on Nifty 50’s Opening Trend
The Nifty 50 faces a cautious start to the session, with sentiment weighed by global softness and no strong regional tailwinds. Traders may prefer a wait-and-watch mode till cues from China and Europe become available later in the day.
Stay updated with the latest from Hindustan Herald — your trusted source for
Politics, Business, Sports, Entertainment, Lifestyle, Breaking News, and More.
📲 Follow us on Facebook, Instagram, Twitter, LinkedIn, and YouTube
🔔 Join our Telegram channel @hindustanherald for real-time news alerts.
