Share Market Pre-open Updates – April 17, 2025

Indian Markets May Open Lower as Wall Street Slump Dampens Mood; Earnings in Focus

Pre-Market Update: Indian equity benchmark indices, Sensex and Nifty 50, are likely to start Thursday’s session lower, influenced by weak cues from Wall Street overnight. At 7:34 AM, the Gift Nifty was trading down by 104 points at 23,365. 

Amidst this backdrop, a few positive catalyst that could offer support to the bull’s camp are as follows: 

1. Foreign Institutional Investors (FIIs) turned net buyers for the second straight session, with cumulative purchases worth ₹10,002 crore over the last two days.
2. IMD forecast above normal monsoon for 2025, which bodes well for the Indian economy. 
3. The U.S. dollar index below 100 mark. 
4. India’s Retail inflation has fallen to its lowest level in over five years. 
5. The Nifty 50 reclaimed its 100-DMA for the first time, since falling below it on April 1. 

Stocks likely to remain in focus on April 17, 2025, include HDFC Asset Management, HDFC Life Insurance, Infosys, Jio Financial Services, and Tata Elxsi, as these companies are set to announce their Q4 and FY25 results. 

Talking about the sector-specific action, Nifty IT is likely to be in a spot of bother amid tech-driven sell-off on Wall Street and cautious commentary from Wipro. The company’s outlook for the first quarter of the current fiscal year remains muted amid an uncertain macro environment, with a projected degrowth of 3.5% to 1.5% in the first quarter. So far in 2025 YTD, the Nifty IT index is down by 23%.

On Wednesday, Indian equities wrapped session on a positive note, marking their third straight day of gains. The Sensex climbed by 309.40 points (0.40%) to finish at 77,044.29, while the Nifty 50 ended above the level of 23,400 up by 0.50%. 

Morning Cues from Asia Peers

Asian markets showed a mostly positive trend, shrugging off the losses seen on Wall Street overnight. Japan’s Nikkei 225 moved up by 0.59%, and the Topix index also posted gains of 0.26%. In South Korea, the Kospi advanced by 0.41%, 

U.S. Market Cues: What Happened Overnight

U.S. stock markets witnessed a steep decline on Wednesday hit by a double whammy of Nvidia’s China-related warning and Federal Reserve Chair Jerome Powell’s caution over the economic impact of tariffs. 

The Dow Jones Industrial Average fell by 699.57 points, a decline of 1.73%, ending at 39,669.39. The S&P 500 slipped 120.93 points or 2.24% to settle at 5,275.70, while the tech-heavy Nasdaq Composite plunged 516.01 points, marking a 3.07% drop to close at 16,307.16.

Federal Reserve Chair Jerome Powell indicated that the central bank is in no hurry to alter interest rates and will continue monitoring economic data before making any decisions. He also highlighted concerns over former President Donald Trump’s tariff strategies, warning that such measures could move inflation and employment away from the Fed’s targets.

Disclaimer: The article is for informational purposes only and not investment advice.