D-Street poised for a positive start as GIFT Nifty trades firmly higher
Indian stock markets are expected to open higher following positive signals from the GIFT Nifty. Analysts suggest a potential rebound for the Nifty index, though global concerns regarding AI development and rising oil prices persist.
Why it matters
Market performance in India is heavily influenced by global macroeconomic trends, including US interest rate expectations and energy supply stability.
Indian benchmark indices witnessed a volatile session on Friday, coming under sharp pressure during the initial trading hours and touching a day’s low of 23,231. Going ahead, analysts say strength above 23,500 will signal pullback towards 23,650 levels in the coming sessions. Failure to do so will signal some consolidation in the range of 23,230-23,500.STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a positive startGIFT Nifty on the NSE IX traded higher by 92 points, or 0.39 per cent, at 23,535.5, signaling that Dalal Street was headed for a positive start on Tuesday.Tech View: The Nifty may be setting up for a short-term rebound after its recent slide pushed momentum indicators close to oversold territory, while battered IT stocks are also showing early signs of a pullback, according to Anand James, Chief Market Strategist at Geojit Investments.India VIX: India VIX, which is a measure of the fear in the…
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