Dalal Street poised for positive start as GIFT Nifty signals gains
The GIFT Nifty traded higher by 55 points on Monday morning, suggesting a positive opening for the Indian market.
The Indian market is expected to start on a positive note on Monday, as the GIFT Nifty traded higher by 55 points, or 0.22 per cent, at 25,045, according to The Economic Times.
This follows a special Muhurat Trading session on Sunday where the market closed marginally lower, ending a seven-session winning streak.
The GIFT Nifty, previously known as SGX Nifty, signals these gains as the market enters Samvat 2083.
In the technology sector, 24,800 remains the immediate downside support, followed by the 24,600 zone, while the RSI remains in the mid-70s.
The India VIX, a measure of market fear, rose 12 per cent to settle at 17.46 levels.
Elsewhere, gold prices edged higher on Monday as softer oil prices eased inflation concerns, while the US dollar traded near multi-month highs.