Indian Share Markets Eye Green Start As GIFT Nifty Hints At Gains

Indian stock market indices are poised for a positive start as the GIFT Nifty traded near the 23,174.5 level, rising nearly 80 points or 0.35 percent from previous futures closes.

Market Recovery

Domestic benchmark indices ended in positive territory on Friday to extend gains for a second straight session. The Sensex climbed 413.66 points or 0.56 percent to close at 74,729.27, while the Nifty 50 added 148.80 points or 0.65 percent to settle at 23,146.15. Information technology stocks led the rally with gains exceeding 3 percent on sustained momentum from corporate earnings. Ajit Mishra of Religare Broking noted that markets saw strong recovery backed by better domestic growth outlook and buying in large-cap stocks. Across the full week, the Sensex surged 3.11 percent and the Nifty advanced 2.78 percent following a volatile start with losses on Monday and Wednesday.

Expert Outlook

Choice Equity Broking analyst Sachin Gupta stated that the Sensex outlook remains sideways to bullish, with support keeping the upward bias intact and eyeing the 75,000 to 75,300 resistance zone. Meanwhile, Asian markets traded lower on Monday while US stock futures stayed mixed on Sunday evening. South Korean equities dropped sharply as the Kospi plunged 1,79.64 points or 3.17 percent, Japanese shares saw selling pressure with the Nikkei falling 1.73 percent, and Taiwan's Taiex index dipped 1.42 percent following technology-led sell-offs on Wall Street.

Context

GIFT Nifty functions as an early indicator for the Indian stock exchanges, trading based on Nifty futures contracts outside regular domestic market hours. Global cues from Asian exchanges and Wall Street futures heavily influence local opening trends as investors track international sentiment.