GIFT Nifty futures rise 71 points; markets likely to open on a positive note
GIFT Nifty signals a positive start with a 71-point rise, supported by strong global cues and sector-specific action as Q3 earnings season drives market momentum.
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GIFT Nifty, trading on the NSE IX, rose by 71 points or 0.30 per cent to 23,425, signalling a strong start for Indian equity markets. This upbeat sentiment aligns with global cues, as markets anticipate steady movements amid the Q3 earnings season.
Global market cues support optimism
Asian shares traded higher on Tuesday, bolstered by a rebound in U.S. equity futures after President Donald Trump refrained from implementing aggressive trade tariffs on his first day back in office. Key indices showed:
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S&P 500 Futures: Up 0.5%
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Hang Seng Futures: Gained 1.6%
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Nikkei 225 Futures (OSE): Increased 0.3%
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Australia’s S&P/ASX 200: Rose 1%
Technical indicators show bullish momentum
Market analysts see bullish momentum building for the Nifty index. The RSI on the hourly chart indicates a positive divergence, signaling a potential upward trajectory. However, India VIX, which measures market volatility, rose 4.24 percent to 16.42 levels, suggesting cautious optimism.
Stocks in focus: Q3 results and F&O ban list
The ongoing Q3 earnings season will keep specific stocks in focus. Major names like Kotak Mahindra Bank and Wipro showed significant movements in Monday’s session. Stocks under the F&O ban include:
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Angel One
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RBL Bank
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Bandhan Bank
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Manappuram Finance
FII and DII activity
On Monday, foreign portfolio investors (FPIs) remained net sellers, offloading shares worth Rs 4,336 crore. However, domestic institutional investors (DIIs) balanced the trend by purchasing Rs 4,321 crore worth of equities.
Rupee movement and commodity update
The Indian rupee appreciated by five paise to close at 86.55 against the U.S. dollar on Monday. A drop in crude oil prices and a weaker dollar index supported sentiment.
Key takeaways for investors
With a strong start indicated by GIFT Nifty, investors should watch sector-specific trends and global developments. While market breadth remains positive, heightened volatility calls for measured trading strategies.
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