Trading guide, April 16: Global mkts, China GDP, Q4 results, IndusInd Bank

Stock Market Today, April 16, 2025: GIFT Nifty futures indicated a negative start. As of 6:57 AM, GIFT Nifty futures were down 63 points at 23,278

Stock Market Today, April 16, 2025:  Indian equities are poised to be majorly influenced by global markets amid uncertainty around the US tariffs. That apart, Q4 earnings and foreign portfolio investors' (FPIs) activity will also be eyed. 

 

That said, GIFT Nifty futures indicated a negative start. As of 6:57 AM, GIFT Nifty futures were down 63 points at 23,278.

Here are the top things to keep in mind while trading on Wednesday:

Asian markets on Wednesday morning were trading mixed with mainland China's CSI 300 up 0.06 per cent, Shanghai flat with a negative bias, Japan's Nikkei down 0.49 per cent and Australia's AXS 200 up 0.08 per cent.

 

 

Overnight, Wall Street indices settled lower amid looming fears around US tariffs. At close, Dow Jones was down 0.38 per cent, S&P 500 down 0.17 per cent, and Nasdaq down 0.05 per cent.  

Commodity update 

Gold prices gained on Tuesday, helped by safe-haven demand as US President Donald Trump's uncertain tariff plans kept investors on edge. Spot gold was up 0.6 per cent at $3,230.18 an ounce as of 1:47 PM ET (1747 GMT).

 

Meanwhile, oil prices were flat early on Wednesday, as shifting US trade policies fuelled uncertainty while markets assessed the potential impact of the US-China trade war on economic growth and energy demand. Brent crude futures rose 5 cents, or 0.1 per cent, to $64.72 per barrel.

 

Events today

China will release its Q1 gross domestic product (GDP) growth rate, house price index, industrial production, and unemployment rate for March today. The US will release its March retail sales and industrial production data, while US Federal Reserve Chair Jerome Powell will speak on the economic outlook. Besides, the European Central Bank will deliver its latest interest rate decision and guidance.

 

Back home, India's retail inflation slipped to a more-than-five-year low. Annual retail inflation in March eased to 3.34 per cent, below economists' estimate of 3.6 per cent. The print was the lowest since August 2019, the government said in a statement. February retail inflation was 3.61 per cent.

Market set-up today 

In the previous session, the Sensex ended the day with a gain of 1,578 points or 2.1 per cent at 76,735 and the NSE Nifty settled 500 points or 2.2 per cent higher at 23,329 after foreign institutional investors (FIIs) bought Indian equities worth ₹6,065.78 crore, while, domestic institutional investors (DIIs) sold equities worth ₹1,951.60 crore. 

 

According to technical pudits, Nifty has formed a Hanging Man pattern on the daily chart, indicating a possible pause in the current rally. On the other hand, the index closed above the 100-EMA on the daily chart, which suggests continued positivity. Additionally, the RSI has just entered a positive crossover.

 

"Summing it up, although the sentiment appears positive, a hint of fatigue is visible in the index following the steep rally over the past few days. Therefore, the possibility of a minor pullback on the downside cannot be ruled out. Support is placed at 23,300; a decisive break below this level could trigger a correction towards 23,000. Resistance is placed at 23,370 and 23,650," said Rupak De, senior technical analyst, LKP Securities.

Q4 results

Among others, Angel One and Wipro will release their Q4 earnings results today. 

 

 

Stocks to watch

IndusInd Bank: Private sector lender on Tuesday said that the external agency — PwC — appointed to validate the findings of its internal review has identified discrepancies in its derivatives portfolio and estimated a negative impact of ₹1,979 crore as of June 30, 2024. 

 

Airtel/ Zomato: Bharti Airtel has announced its partnership with the quick commerce platform Blinkit for the delivery of SIM cards to its customers within ten minutes. 

 

JSW Steel: The company will be investing over ₹50,000 crore to create 10 million tonnes per annum of green steel capacity at a plant near the country's financial capital, as per reports.