Indian stock market: 8 key things that changed for market overnight - Gift Nifty, India-EU trade deal to Trump tariffs

The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open higher on Tuesday, rebounding from a sharp fall last week, following upbeat global market cues.

Asian markets traded mixed, while the US stock market ended higher overnight, ahead of the US Federal Reserve’s policy meeting.

This week, participants will watch out for key stock market triggers, including the India-US trade deal, Union Budget 2026, US Federal Reserve meeting, Q3 results, geopolitical developments over Greenland, flow of foreign institutional investments, trends in crude oil prices, rupee trajectory, Donald Trump tariff policies, and other key global and domestic macroeconomic data.

The Indian stock market was closed on Monday, January 26, 2026, on account of Republic Day 2026.

On Friday, the equity indices witnessed a sharp sell-off on heightened geopolitical uncertainties and sustained foreign capital outflows.

The Sensex crashed 769.67 points, or 0.94%, to close at 81,537.70, while the Nifty 50 settled 241.25 points, or 0.95%, lower at 25,048.65.

“Markets will continue to track developments around global trade negotiations and geopolitical dynamics, while stock-specific action is expected to remain driven by ongoing Q3 earnings announcements,” said Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.

Here are key global market cues for Sensex today:

Asian Markets

Asian markets traded mixed after US President Donald Trump said he would increase tariffs on South Korea. Japan’s Nikkei 225 fell 0.24%, while the Topix declined 0.31%. South Korea’s Kospi dropped 0.36%, while Kosdaq rallied 1.41%. Hong Kong Hang Seng index futures indicated a higher opening.

Gift Nifty Today

Gift Nifty was trading around 25,160 level, a premium of nearly 81 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.

Wall Street

US stock market ended higher on Monday, with the S&P 500 and the Nasdaq advancing for a fourth consecutive session.

The Dow Jones Industrial Average rallied 313.69 points, or 0.64%, to 49,412.40, while the S&P 500 gained 34.62 points, or 0.50%, to 6,950.23. The Nasdaq Composite closed 100.11 points, or 0.43%, higher at 23,601.36.

Nvidia stock price fell 0.64%, Apple stock price gained 2.97%, Microsoft shares rose 0.93%, AMD share price declined 3.22% and Tesla stock price dropped 3.09%.

Tariff Relief Hopes

US Treasury Secretary Scott Bessent signalled the possibility of rolling back the additional 25% tariffs on India. Bessent said that “there could be a path” to removing the levies, noting that India’s purchases of Russian oil have declined sharply following the tariff measures imposed by the Donald Trump administration.

India-EU Trade Deal

India and the European Union have concluded negotiations for a free trade agreement (FTA), with an official announcement expected today. The deal aims to strengthen economic integration between India and the EU, boosting trade and investment flows.

Axis Bank Q3 Results

Axis Bank’s net profit in Q3FY26 rose 3% YoY to ₹6,489.6 crore, while net interest income (NII) increased 5% YoY to ₹14,286.4 crore. Asset quality of the private lender improved sequentially, as Gross NPA fell to 1.40% from 1.46% and net NPA declined to 0.42% from 0.44%, QoQ.

Dollar

The US dollar hit a four-month low, and has fallen more than 1% for the year thus far. Against a basket of currencies, the dollar index was last at 97.05, having hit a four-month low of 96.808 on Monday. The euro was steady at $1.1878, Sterling last bought $1.3678.

Gold, Silver Prices

Gold and silver prices declined sharply. Comex gold price fell 1.16% to $5,023.60 an ounce, while Comex silver price declined 6.41% to $108.095 an ounce, after hitting an all-time high above $117.71 in the previous session.

(With inputs from Reuters)