Pre-Market Report: GIFT Nifty futures up 70 points; D-Street likely to open on a positive note

Indian equity markets are poised to open strongly on Tuesday, following the positive sentiment in global markets and robust foreign buying interest. The GIFT Nifty, an early signal for the Nifty50, is higher by 67 points at 23,762, indicating a firm opening for Dalal Street. Market momentum is upbeat as the benchmark indices continued their winning run for the sixth straight session on Monday, led by strong performances in the banking and IT stocks.

Market recap: Bulls extend rally
On Monday, the BSE Sensex climbed 1,078.87 points, or 1.40 per cent, to finish at 77,984.38, and the Nifty50 rose 307.95 points, or 1.32 per cent, to end at 23,658.35. Finance and IT shares took the lead, aided by strong buying interest from both domestic and foreign investors. FIIs were net purchasers, injecting Rs 3,055.76 crore into stocks, while DIIs bought stocks worth Rs 98.54 crore.

Technical outlook: Levels to monitor
Experts anticipate the market to continue its bullish run as the Nifty has regained its 200-day DEMA, a key technical level supporting positive sentiment. In Osho Krishan's view, Senior Research Analyst at Angel One, "The Nifty has convincingly crossed 23,650, supporting strong buying momentum. Traders need to monitor immediate resistance at 23,800, while key support is in the 22,250-22,230 zone."

Global cues: Positive sentiment dominates
US Markets: Wall Street closed on a high, with the S&P 500 rising 1.76 per cent, the Nasdaq shooting up by 2.27 per cent, and the Dow Jones increasing by 1.42 per cent. The optimism was driven by positive expectations on trade policies and excellent performances from tech titans Nvidia and Tesla.

Asian Markets: Early indicators point to a mixed Asian markets opening. As Australia's S&P/ASX 200 increased by 0.6 per cent, Hong Kong's Hang Seng futures fell 1.5 per cent.

Commodity watch: Gold edges lower, rupee gains
The price of gold declined as comments from US President Donald Trump reassured markets and eased fears surrounding trade tariffs. Meanwhile, India's rupee strengthened considerably and reached 85.6350 against the US dollar—its highest level yet in 2025.

Stocks in focus
IndusInd Bank continues to be on the F&O ban list, restricting derivative trading activity. Investors will also keep an eye on BFSI and IT stocks, which have been instrumental in leading market gains.

Outlook for the day
With positive global cues and ongoing FII buying, Indian markets are likely to start the day with a strong opening. Traders need to exercise caution near resistance levels while riding the current momentum.