Indian equity markets are expected to open on a positive note on Friday, April 10, 2026, supported by improved global cues and gains in GIFT Nifty, although investor sentiment remains cautious amid ongoing geopolitical tensions in West Asia and rising crude oil prices.
GIFT Nifty was trading higher by about 69 points at 23,949, indicating a potential gap-up opening on Dalal Street, tracking strength in US markets. However, market participants continue to monitor geopolitical developments in West Asia and the trajectory of crude oil prices, which could influence market direction.
In the previous trading session, profit booking was observed, putting pressure on benchmark indices. The direction of the current session is expected to be driven by a combination of global and domestic cues.
Nifty 50 Technical Levels in Focus
Nifty 50 is seen at a technically significant juncture. According to market participants, the index requires a decisive breakout above the 24,000 level. A sustained move above this threshold could trigger short covering, potentially pushing the index towards 24,500.
On the downside, the 23,500 level is being seen as a key support. Meanwhile, India VIX, a measure of market volatility, rose around 4% to 20.43, reflecting elevated investor caution.
Global Markets Provide Mixed Cues
Global markets are currently offering mixed signals, although some stability has emerged. US equity markets closed higher, with the Dow Jones Industrial Average rising 0.58%, the S&P 500 gaining 0.62%, and the Nasdaq Composite advancing 0.83%.
Reports of potential ceasefire talks in the Middle East supported investor sentiment, contributing to stability in global markets. Asian markets also showed mild gains and stability.
Crude Oil Prices Rise Amid Supply Concerns
Crude oil prices remain elevated, posing a concern for markets. Attacks on Saudi Arabia’s energy infrastructure and the risk of disruption in the Strait of Hormuz have increased uncertainty around supply.
For an import-dependent country such as India, higher crude oil prices could exert pressure on inflation and the current account deficit, with potential implications for equity markets.
Institutional Investor Activity
Foreign institutional investors (FIIs) recorded net selling of Rs 1,711 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 956 crore, providing some support to the market. The data indicates continued caution among foreign investors, while domestic investors remain active.
Stocks in Focus
Wipro will hold its board meeting on April 16 to consider fourth-quarter results along with a share buyback proposal.
Tata Steel has acquired full ownership of its subsidiary Tata Steel Colors, making it a wholly owned entity.
HDFC Life Insurance’s board will consider a fund-raising proposal and recommendation of a final dividend.
SpiceJet has been directed by a UK court to pay approximately $8 million.
Eicher Motors has launched Royal Enfield’s first electric motorcycle, the ‘Flying Flea C6’, marking its entry into the electric segment.
IRB Infrastructure Developers reported a 20.7% increase in toll revenue to Rs 783.5 crore for March 2026.
Poonawalla Fincorp has opened its qualified institutional placement (QIP), drawing market attention.
Several companies, including Agri-Tech India, Eco Hotels & Resorts, and Washu Bhagnani Industries, are scheduled to announce their quarterly results.
