Markets surge as Trump signals war may end ‘in weeks’

Global markets surged after Donald Trump signalled that the Iran conflict could end within a few weeks, lifting investor sentiment sharply. Wall Street rallied overnight, Asian markets opened strong this morning, and Indian equities are set to begin the new financial year on an upbeat note.

Gift Nifty trends point to a gap-up opening for domestic benchmarks, with the index indicating a rise of over 350 points at the open.

US markets deliver biggest jump in months

Uncertainty around the conflict had kept US indices range-bound earlier, but Trump’s comments triggered a sharp shift in sentiment.

• The Dow Jones Industrial Average jumped 1,125.37 points (2.49%) to close at 46,341.51

• The S&P 500 gained 184.80 points (2.91%) to 6,528.52

• The Nasdaq Composite surged 795.99 points (3.83%) to 21,590.63

This marked the strongest single-day performance in nearly 11 months. US futures continued to edge higher this morning.

Asia joins the rally

Asian markets mirrored Wall Street’s momentum:

• Japan’s Nikkei 225 and South Korea’s KOSPI surged up to 5 percent at the open

• Australian markets rose 1.6 percent

• Hong Kong and Chinese equities also opened in positive territory

India: rebound likely after weak finish to FY26

Indian markets ended the previous financial year on a weak note, with sustained selling pressure:

• Sensex fell 5.4 percent for FY26

• Nifty 50 declined 3.6 percent

Foreign investors pulled out a record ₹1.8 lakh-crore during the year, while domestic institutions invested ₹8.3 lakh-crore, including ₹5.1 lakh-crore via mutual funds.

On Monday:

• Sensex fell 1,635.67 points to 71,947.55

• Nifty dropped 488.20 points to 22,331.40

• Bank Nifty declined 3.82 percent

Market breadth remained weak, with a majority of stocks ending lower.

Rupee strengthens as dollar weakens

The Indian Rupee is showing signs of recovery in offshore trade after recent volatility. In the non-deliverable forward (NDF) market, the rupee strengthened to around 93.3 per dollar.

The US Dollar Index slipped below the 100 mark, reflecting easing safe-haven demand as geopolitical tensions cool.

Crude oil volatile, but eases from highs

Oil prices corrected sharply amid hopes of de-escalation:

• Brent Crude fell to around $103.97 per barrel before rebounding to about $105

• WTI Crude hovered near $102.77

Earlier, Brent had spiked to $118 on war fears.

Gold volatile amid shifting sentiment

Gold prices remain highly volatile:

• Rose to as high as $4,723 per ounce intraday

• Later eased to around $4,686

Silver also saw sharp swings, while platinum and palladium remained firm.

Commodities mixed; metals gain

Industrial metals saw gains:

• Copper edged higher to $12,160 per tonne

• Aluminium jumped over 2 percent amid supply disruptions in the Middle East

Among agri commodities:

• Rubber and coffee prices rose

• Tea prices declined

• Palm oil surged nearly 4 percent

Crypto gains on risk-on mood

Risk appetite returned to crypto markets:

• Bitcoin moved above $67,750

• Ethereum hovered near $2,100

Market indicators

(March 31, Tuesday)

• Sensex: 71,947.55 (-2.20%)

• Nifty 50: 22,331.40 (-2.14%)

• Bank Nifty: 50,275.35 (-3.82%)

• Midcap 100: 52,650.00 (-2.68%)

• Smallcap 100: 15,203.80 (-2.66%)

Global markets (latest)

• Dow Jones: 46,341.51 (+2.49%)

• S&P 500: 6,528.52 (+2.91%)

• Nasdaq: 21,590.63 (+3.83%)

Commodities & currency

• Gold: $4,669.80/oz

• Brent crude: $103.97/barrel

• Rupee: ₹94.83 per $