Indian Stock Market: Key Overnight Developments — From GIFT Nifty Moves to US-India Trade Talks and Middle East Tensions

The equity market indices for the domestic stock market today, Sensex and Nifty 50 are set to begin on a cautious foot Tuesday, as markets around the world are unsure of signals.

Asian markets remained flat and they were able to keep their positions. US stock market ended down overnight and saw being the S&P 500 snapping its longest streak of winning in over 20 years.

Gift Nifty Today

Gift Nifty was trading around 24,583, which is a rise of 30 points over the previous Nifty futures' closing price, which indicates a slightly positive start to the Indian indexes of the stock market.

Wall Street

The stock market finished lower on Monday after investors analyzed Trump's new tariff announcement before the Federal Reserve sets its monetary policy later this week.

The Dow Jones Industrial Average fell by 98.60 points which represents a 0.24 percent decrease reaching 41,218.83 while the S&P 500 experienced a decline of 36.29 points amounting to 0.64 percent towards 5,650.38.

US Services PMI

It is believed that the US Services sector's economic growth accelerated in April. It was reported by the Institute for Supply Management (ISM) announced that its non-manufacturing purchasing management index (PMI) rose to 51.6 in April following 50.8 during March.

US-India Trade Talks

India has been reported to have offered to impose no tariffs on automobile components, and pharmaceuticals imported that come from the US on an exchange basis. Based on a news report from Bloomberg quoting people who are aware of the developments, reciprocal tariffs are being offered for a limited amount in imports coming of the US. Above the limit the imports of industrial products would receive the standard amount of duty as per the report.

Israel-Yemen War

The Israeli military has said that it launched air strikes on Yemen's Hodeidah Port, a day after Iran's allies Houthis launched a missile which struck Israel's main airport. The military claimed in a statement that it struck the so-called Houthi "terrorist" targets in Hodeidah and the area around it.

Trump Tariffs

The Trump administration hasn't yet made a decision regarding the tariffs for foreign film however, it has been "exploring all options" to comply with President Trump's order to safeguard the country's film business, White House spokesman Kush Desai told reporters.