Indian stock markets are expected to begin Monday’s session on a positive note, supported by gains in GIFT Nifty. The index was trading around 22,645 in early trade, pointing to a stronger start for the Sensex and Nifty 50.
Investor sentiment will also be shaped by mixed Asian markets, movements in crude oil and gold prices, and expectations surrounding corporate earnings and US inflation data.
How did Sensex and Nifty perform on Friday?
Domestic benchmark indices ended Friday’s session with strong gains. The BSE Sensex climbed 879 points, or 1.23%, to 72,472, while the NSE Nifty 50 advanced 289 points, or 1.30%, to 22,520.
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Information technology stocks led the rally, with the sector gaining 3.02%. FMCG shares rose 2.2%, while PSU bank stocks advanced 1.63%. The midcap index gained 1.56%, whereas smallcap stocks ended 0.54% higher.
Global market cues to watch today
GIFT Nifty
GIFT Nifty gained 44.5 points to trade near 22,645 in early deals. Its movement suggests a positive opening for Indian equities, although the domestic market’s direction will depend on subsequent trading activity and global developments.
Asian markets
Asian equities opened cautiously as investors assessed elevated technology stock valuations ahead of the earnings season. Uncertainty surrounding developments in the Gulf also kept oil markets in focus.
US stock market
Wall Street closed higher on Friday, with all three major indices advancing ahead of a busy week for investors. The Dow Jones Industrial Average rose 423.31 points, or 0.83%, to 51,654.95. The S&P 500 gained 0.59% to 7,811.51, while the Nasdaq Composite advanced 0.64% to 27,366.17.
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