Global markets were very strong overnight. US markets closed at new record highs, Europe rallied nearly 3%, and Asian markets are also positive this morning. Nikkei is up more than 5%. Big reason for this rally is easing tension around the Strait of Hormuz and better hopes of a US-Iran understanding. That reduced crude oil worries and helped global markets move higher. Even after strong global signals, Gift Nifty is showing a slightly weak opening near 24,440 after yesterday’s big rally. Looks like some traders may book profits near the 24,500 area. US bond yields and the dollar index are cooling off, which is helping emerging markets. Tech and AI stocks are still leading globally. Korea and Taiwan markets are also seeing strong institutional buying. For India, global support is clearly there. Now the important thing is whether Nifty can hold above the 24,300–24,350 zone after the market opens.

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