Indian stock markets likely to open higher on Monday
GIFT Nifty signals a positive start for domestic indices despite lower trading in Asian markets.
The Indian stock market is expected to open higher on Monday, 2 November, as GIFT Nifty indicated a gap up start, according to a report by Mint.
While Asian markets traded lower on Monday, US stock futures began post-weekend trading on a positive note following a sharp decline on Friday.
Enrich Money CEO Ponmudi R said equity markets may attempt to extend their recent recovery, noting that diplomatic efforts to de-escalate the U.S.–Iran conflict could reduce geopolitical risk in crude oil and support domestic equities.
Last week, the BSE Sensex rose 1,335.7 points, or 1.82 per cent, while the NSE Nifty gained 453.1 points, or 2 per cent on a weekly basis.
On Friday, the Sensex rose 308.49 points, or 0.42 per cent, to close at 74,459.53, while the Nifty climbed 116.35 points, or 0.51 per cent, to settle at 23,053.10.
Choice Equity Broking VP Sachin Gupta said the Sensex remains sideways to bullish, with immediate support in the 73,800–74,000 zone and resistance near 74,700–75,000.
