GIFT Nifty signals strong opening as US markets gain
Asian markets trade mixed while oil prices fall for a fourth day on expectations of lower risk regarding Iran war escalation.
GIFT Nifty indicates a positive start for the Indian markets, according to a Moneycontrol report. The Nifty 50 closed 0.63 per cent higher in the last session, while the Sensex rose 384 points on Wednesday.
Wall Street ended higher after Democrats won Congress, though data center stocks tumbled. Shrikant Chouhan, Head Equity Research at Kotak Neo, said the dollar edged lower as the US election outcome cheers global markets.
In Asian markets, Hang Seng rose nearly 3 per cent while Kospi fell 3.3 per cent. Meanwhile, oil prices have fallen for a fourth day on expectations for a lower risk of Iran war escalation.
Several companies are set to announce earnings today, including ONGC, Bharti Airtel, Titan Company, Mahindra & Mahindra, and Britannia Industries. Recent quarterly results show Lenskart Solutions' net profit rose 122.1 per cent, while BSE's net profit surged 44.9 per cent.
Aurobindo Pharma also reported a 32.7 per cent rise in Q2 net profit. Regarding BSE, Bernstein has maintained an 'underperform' rating but raised its target price to Rs 3,180 per share.
