Indian stock markets set for positive opening tracking global cues and crude drop

Indian stock market indices are poised for a positive start on Tuesday, 6 October 2026, as GIFT Nifty traded around the 22,663 level, up nearly 81 points from the previous close. Asian markets traded higher and US stock futures closed in the green following a rebound driven by artificial intelligence stocks and easing oil prices.

Market Recovery

Benchmark indices Sensex and Nifty ended higher on Monday, recovering from recent losses. The 30-share BSE Sensex gained 472.77 points, or 0.66 percent, to finish at 72,382.47, after touching a session high of 72,631.93. The NSE Nifty added 133.80 points, or 0.60 percent, closing at 22,555.75 and reclaiming the 22,500 mark. Analysts noted that easing crude oil prices provided key support to market sentiment, with West Texas Intermediate crude trading in the $89 to $90 range per barrel due to improved shipments from the Middle East and emergency reserve releases.

Expert Outlook

Ajit Mishra of Religare Broking stated that the market took a breather from its corrective trend with a strong recovery. Sachin Gupta of Choice Equity Broking noted that the Sensex structure remains sideways until a decisive breakout occurs, advising traders to monitor supports between 71,800 and 72,000. Meanwhile, Rupak De of LKP Securities pointed out that the Nifty faced resistance near 22,600 and faces support at 22,400. Wall Street also advanced on Monday, with the Nasdaq Composite climbing about one percent to a record close, while Japan's Nikkei 225 opened 0.22 percent higher and Taiwan's TAIEX rose 0.20 percent.

Context

Stock markets frequently react to shifts in global commodity prices and international equities, as energy costs directly influence corporate operating margins and inflation expectations. Technical levels like support and resistance zones serve as key tracking metrics for traders determining short-term market trends.