Asian markets are poised for a cautious open on April 30, with investors weighing mixed global signals, corporate earnings, and macroeconomic data ahead of Wednesday’s trade.
Indian equities may open flat to slightly negative, as indicated by the Gift Nifty, even after the Sensex and Nifty closed in the green on Monday.
The focus now shifts to the sustainability of recent gains amid heightened volatility and selective global optimism.
Muted signals from global markets
The Gift Nifty was trading marginally lower at 24,405.5, down 0.1%, suggesting a subdued start for Indian indices.
This comes after the Nifty 50 closed up 0.09% at 80,288.38, while the BSE Sensex posted a strong 1.96% rally to end at 78,553.20 in the previous session.
European markets ended Tuesday on a mixed note—Germany’s DAX gained 0.59% and the UK’s FTSE 100 rose 0.32%, buoyed by strong corporate results.
However, France’s CAC 40 slipped 0.32% and the pan-European STOXX 50 edged down 0.025%, reflecting caution amid lingering economic uncertainty.
In the US, futures painted a split picture: Dow Jones Futures climbed 0.35%, while S&P 500 and NASDAQ futures dipped slightly, signaling potential sectoral divergence and near-term volatility.
Asia-Pacific outlook: mixed cues and regional focus
On Tuesday, Asia-Pacific markets showed no clear direction.
Mainland China’s CSI 300 index dipped 0.17% to 3,775.08, while Hong Kong’s Hang Seng rose 0.16% to 22,008.11.
South Korea’s Kospi climbed 0.65% and the Kosdaq rose 0.98%, reflecting investor confidence in domestic earnings.
Meanwhile, Australia’s ASX 200 jumped 0.92% to 8,070.60, bolstered by gains in financial and mining stocks.
Japan’s markets remained closed for a public holiday.
Technical outlook for Nifty: watch key levels
The Nifty 50 remains in a consolidation phase after a strong move last week.
The index is forming higher highs and higher lows, with all major moving averages trending upwards.
Bollinger Bands have widened, indicating potential for sharp movement, although elevated India VIX suggests continued caution.
Technical analysts believe that as long as the index holds above 24,300 on a closing basis, a move toward 24,550 is likely, with 24,860 as the next major resistance level. On the downside, the support zone lies between 24,100 and 24,000.
Macro triggers and earnings in focus
Investors will closely track earnings from heavyweight firms, progress in US–Asia trade talks, and macroeconomic indicators, particularly from China and India.
HSBC’s strong quarterly earnings highlighted strength in global banking, particularly in wealth management and corporate banking.
With global markets sending mixed signals, traders in Asia are likely to adopt a wait-and-watch approach as April ends and May begins.
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