Stories
Sensex And Nifty Eye Positive Start As GIFT Nifty Gains 50 Points
- •Indian stock markets are poised for a positive opening on Tuesday, with GIFT Nifty indicating a modest gain of around 50 points.
- •Investor sentiment remains cautious due to surging crude oil prices, with Brent trading above $105 a barrel and WTI in the $92-93 range.
- •Rising inflation to 5.54 percent in September and escalating geopolitical tensions in West Asia continue to pose macroeconomic risks.
- •Asian markets traded lower following losses in US tech stocks, with Japan's Nikkei 225 dropping over 2 percent and South Korea's KOSPI down 4 percent.
- •The ongoing Q2 corporate earnings season is expected to drive stock-specific movements and influence market trends ahead.
Key Questions Answered
In the previous session, the BSE Sensex tumbled 547.65 points to settle at 71,924.68 and the NSE Nifty dropped 157.10 points to end at 22,363.35. This downward movement was driven by selling in banking, FMCG, and IT shares amid rate-hike concerns, rising crude prices, and continuous foreign fund outflows.
India's retail inflation rose to 5.54% in September, showing an increase compared to the 4.82% recorded in August. This upward trend could influence expectations around the Reserve Bank of India's monetary policy decisions.
WTI crude is trading in the range of $92 to $93 a barrel, while Brent crude has climbed back above $105 a barrel. These elevated energy prices and geopolitical uncertainties in West Asia continue to weigh heavily on investor confidence.
