Indian Stock Market Expected to Open Flat Amidst Global Weakness on April 22; GIFT Nifty Shows Slight Gain; Q4 Results of HCL Tech and Others Anticipated.
Stock Market Today: The Indian stock market is projected to open with a flat to mildly positive trend on April 22nd, influenced by the weak performance of global markets. At 7:44 AM, the GIFT Nifty Futures stood at 24,152, approximately 17 points higher than the Nifty Futures' previous close. This suggests a flat to mildly positive opening for the market today.
Monday's Market Strength
Yesterday witnessed robust buying in banking and financial stocks, leading to a b market close. However, investors are advised to exercise caution today, as the decline in US markets could impact the domestic sentiment.
Decline in US Markets Attributed to Trump's Remarks
US President Donald Trump's criticism of Federal Reserve Chairman Jerome Powell's interest rate policies triggered a downturn on Wall Street.
The Dow Jones Industrial Average fell by 2.48%, closing at 38,170.41, while the S&P 500 dropped by 2.36% and the Nasdaq Composite declined by 2.55%.
Nifty Outlook
Research VP Ajit Mishra suggests that the Nifty's surpassing of the significant 23,800 resistance level indicates a potential rally to the 24,250-24,600 range. He recommends continuing with a "Buy on Dips" strategy.
Nomura Raises Nifty Target
Brokerage firm Nomura has revised its Nifty target to 24,970 for March 2026, up from its previous target of 23,784 for December 2025. They believe the Nifty will trade at a 19.5x valuation on projected FY27 earnings of ₹1,280 per share.
Q4 Results Announcement Today
Investor attention will be focused on Q4 results today, Tuesday, April 22nd. HCL Tech, Delta Corp, and Cyient DLM are scheduled to announce their results, which could significantly influence market movement.
