Indian Markets Closed For Holiday; Global Markets Edge Up As Trump Pauses Tech Tariffs

(RTTNews) - Indian stock markets remain closed today for Dr. Baba Saheb Ambedkar Jayanti.

Trading activity of foreign investors, any new developments on the U.S.-China tariff war front along with the latest quarterly earnings announcements may sway sentiment as the week progresses.

On the earnings front, IT majors Wipro and Infosys along with private banking majors HDFC Bank and ICICI Bank are set to publish their financial results this week.

In economic releases, WPI and CPI data are set to be released this week. Domestic markets will remain closed again on Friday due to Good Friday.

Asian markets were broadly higher this morning. Technology stocks were in focus after the Trump administration announced a pause in tariffs for phones, computers and consumer electronics, though officials insisted it was only a pause before new tech tariffs are implemented.

That said, analysts say that the conflicting statements from U.S. officials and policy-on-the run makes it impossible to trade short term.

The dollar slipped against most major currencies while oil steadied above a four-year low.

Gold ticked higher as Goldman Sachs hiked its outlook for gold prices to $3,700 an ounce, citing heightened concerns over the U.S. economy.

U.S. stocks rose sharply on Friday after White House press secretary Karoline Leavitt said President Donald Trump is "optimistic" about reaching a trade deal with China.

However, two senior White House officials told CNN that the U.S. will not reach out to China first and that Chinese President Xi Jinping must request a call with Trump.

Meanwhile, Boston Federal Reserve President Susan assured markets that the Fed is prepared to keep financial markets functioning should the need arise.

On the earnings front, JPMorgan Chase, Morgan Stanley and Wells Fargo all reported better-than-expected profits but warned of a potential economic slowdown due to trade disputes.

In economic news, data showed U.S. consumer sentiment plummeted in April, accompanied by a surge in 12-month inflation expectations to levels unseen since 1981.

The tech-heavy Nasdaq Composite rallied 2.1 percent, the S&P 500 surged 1.8 percent and the Dow added 1.6 percent.

European stocks fell broadly on Friday after logging their biggest one-day gains since 2022 the previous day as Trump delayed new tariffs by 90 days and the EU suspended planned countermeasures.

The pan-European STOXX 600 Index finished marginally lower. The German DAX shed 0.9 percent and France's CAC 40 slipped 0.3 percent while the U.K.'s FTSE 100 rose 0.6 percent after strong GDP data.