GIFT Nifty signals positive start for Indian benchmark indices on Monday
Asian markets rebounded and crude oil prices fell as GIFT Nifty traded with mild gains during early morning hours.
Indian benchmark indices Sensex and Nifty are expected to open with gains on Monday, according to Moneycontrol. GIFT Nifty was trading at 25,045 at 8 am, up 55 points or 0.22 per cent from Sunday's close.
The positive signal comes as Asian markets recovered from a technology-led selloff last week. Japan's Nikkei rose 2.5 per cent and Taiwan's benchmark index gained approximately 2.5 per cent.
Crude oil prices also declined on Monday. Brent crude fell 84 cents or 0.85 per cent to $97.48 a barrel, while West Texas Intermediate dropped 32 cents or 0.35 per cent to $90.51 a barrel. This followed comments from US President Donald Trump suggesting that new military strikes against Iran are unlikely as Middle East conflict negotiations progress.
During the special Diwali trading session on November 8, the Sensex fell 28.62 points or 0.04 per cent to 80,999.40. The Nifty dropped 43.95 points or 0.18 per cent to 24,986.40.
Enrich Money CEO Ponmudi R said the immediate focus for Indian equities is whether buying interest can sustain recent advances. He noted that market resilience, stable crude oil prices, a firming rupee, and renewed foreign portfolio inflows are supporting domestic sentiment, though concerns regarding artificial intelligence investments remain.