GIFT Nifty signals positive start for Dalal Street on Monday
GIFT Nifty traded higher by 195 points as benchmark indices previously closed above key psychological levels.
GIFT Nifty on the NSE IX traded 195 points, or 0.84 per cent, higher at 23,281 on Monday, according to The Economic Times. This suggests a positive opening for Indian markets following recent gains in large-cap stocks.
Analysts noted that the short-term bias remains corrective below the 23,175–23,250 resistance zone. However, a breakout above this area could indicate a pause in the current downtrend. For Nifty, the short-term outlook stays positive if it remains above its 20-DMA and the 22,800 support zone.
In global markets, Asian shares declined on Monday due to concerns regarding the AI investment boom and high oil prices. While S&P 500 and Hang Seng futures rose, Nikkei 225 and Topix futures fell by 0.6 per cent.
Oil prices dropped by more than 1 per cent on Monday as Iranian and Qatari officials continued talks to end the US-Israeli war on Iran. Meanwhile, gold prices rose slightly in early Asian trading but remained near a one-year low.
On Friday, foreign portfolio investors net bought shares worth Rs 3,598 crore, while domestic institutional investors were net sellers of Rs 871 crore. The rupee appreciated 50 paise to close at 94.76 against the US dollar on Friday.
