Indian stock market: The domestic equity market benchmark indices, Sensex and Nifty 50, are expected to open on a flat note on Wednesday, following mixed cues from global markets.

Asian markets traded mixed, while the US stock market ended mostly higher overnight, ahead of the US reciprocal tariffs announcements.

On Tuesday, the Indian stock market crashed, kicking off FY26 on a somber note, amid worries that a global trade war could lead to a recession.

The Sensex cracked 1,390.41 points, or 1.80%, to close at 76,024.51, while the Nifty 50 settled 353.65 points, or 1.50%, lower at 23,165.70.

“Investors slashed their equity bets ahead of the start of Trump’s reciprocal tariff imposition on imported goods from Wednesday, as the decision is expected to affect the advantage India had over the US for many years. In fact, domestic markets underperformed other global indices as investors fear the tariff decision could hurt the sentiment and trigger further downfall,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Here are key global market cues for Sensex today:

Asian Markets

Asian markets traded mixed Wednesday, tracking a similar trend on Wall Street, ahead of US President Donald Trump’s roll out of fresh tariffs this week.

Japan’s Nikkei 225 added 0.06%, while the Topix eased 0.3%. South Korea’s Kospi rose 0.14% and the Kosdaq gained 0.12%. Hong Kong’s Hang Seng index futures indicated a lower opening.

Gift Nifty Today

Gift Nifty was trading around 23,312 level, a discount of nearly 9 points from the Nifty futures’ previous close, indicating a flat start for the Indian stock market indices.

Wall Street

US stock market ended Tuesday’s volatile session mixed ahead of the impending tariff announcements from the Trump administration.

The Dow Jones Industrial Average fell 11.80 points, or 0.03%, to 41,989.96, while the S&P 500 rose 21.22 points, or 0.38%, to 5,633.07. The Nasdaq Composite closed 150.60 points, or 0.87%, higher at 17,449.89.

Tesla share price rallied 3.6% and Magnificent Seven stocks including Amazon.com, Microsoft and Meta Platforms, which rose between 1% and 1.8%. Johnson & Johnson shares declined 7.6%. Delta Air Lines, American Airlines and Southwest Airlines all dropped between 2.4% and 5.9%.

Trump Tariffs

The White House confirmed that President Donald Trump will impose new tariffs on Wednesday, though it provided no details about the size and scope of trade barriers, Reuters reported. White House spokeswoman Karoline Leavitt said reciprocal tariffs on countries that impose duties on US goods would take effect immediately after Trump announces them, while a 25% tariff on auto imports will take effect on April 3.

US JOLTS Data

US job openings fell in February as rising uncertainty over the economy due to tariffs on imports curbed demand for labor. Job openings, a measure of labor demand, dropped 194,000 to 7.568 million by the last day of February, the Job Openings and Labor Turnover Survey, or JOLTS report showed. Data for January was revised slightly higher to 7.762 million vacancies instead of the previously reported 7.74 million. Economists polled by Reuters had forecast 7.61 million unfilled positions

US Manufacturing PMI

US manufacturing contracted in March after growing for two straight months, while a measure of inflation at the factory gate jumped to the highest level in nearly three years. The Institute for Supply Management (ISM) said that its manufacturing PMI dropped to 49.0 last month from 50.3 in February. Economists polled by Reuters had forecast the PMI slipping to 49.5.

GST Collections

Gross GST collection in March grew 9.9% to over ₹1.96 lakh crore. After adjusting refunds, net GST revenue stood at over ₹1.76 lakh crore in March 2025, a 7.3% growth over the year-ago period.

Gold Prices Today

Gold prices gained as anxious investors flocked to the safe-haven metal, bracing for announcements on US reciprocal tariffs. Spot gold rose 0.3% to $3,120.64 an ounce, after hitting an all-time high of $3,148.88 in the previous session. US gold futures advanced 0.2% to $3,151.80.

(With inputs from Reuters)

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