Stories
GIFT Nifty Signals Cautious Start for Indian Markets Amidst Global Gains, Falling Oil
- •GIFT Nifty indicates a flat-to-negative opening for Sensex and Nifty, down 0.1% at 23,340.
- •Asian markets show gains, particularly in semiconductor stocks, with MSCI Asia-Pacific up 0.3% and Kospi advancing 1.1%.
- •Crude oil prices fall sharply, with Brent dropping 2.4% to $101.40 and WTI down 2.3% to $97.96.
- •US equity futures are positive, with S&P 500 futures gaining 0.3% and Nasdaq futures rising 0.4%.
- •Geopolitical uncertainties in the Middle East and energy price movements remain key drivers for investor sentiment, despite supportive global cues.
Key Questions Answered
Analyst Ponmudi R views 23,400 as the immediate hurdle for the Nifty, noting that a sustained move above that level could push it toward the 23,500-23,600 range. On the downside, immediate support is placed at 23,200, followed by a stronger zone at 23,100-23,070.
Foreign institutional investors turned net buyers on Friday after selling for seven consecutive sessions, purchasing shares worth Rs 599 crore. Additionally, domestic institutional investors remained net buyers, investing over Rs 1,000 crore during the session.
Crude oil prices fell sharply as investors focused on potential recoveries in Saudi Arabian shipments despite ongoing Middle East tensions. Brent crude dropped 2.4 percent to around $101.40 a barrel, while West Texas Intermediate fell 2.3 percent to $97.96 a barrel.
