Sensex, Nifty set for steady opening amid positive global cues
Asian markets gained following Wall Street’s overnight rally, while easing US yields and crude prices offered additional support to investor sentiment
The Sensex and Nifty are poised for a steady opening on Tuesday, buoyed by positive global cues and falling crude oil prices. The Nifty's opening price of 23,510 suggests a modest gain at market start. Analysts attribute the market's stability to foreign news flows from the US, Iran, and the tariff situation. Asian markets are optimistic, following a rally on Wall Street and a decline in oil prices; South Korea's KOSPI is up over 2%, while Japan's Nikkei 225 remains closed for a holiday.
The Gift Nifty futures are trading above 23,500, indicating a robust opening for Indian equities. However, geopolitical tensions might keep investor sentiment cautious, with selective buying at higher levels. WTI crude is currently trading between $92-$93 per barrel, offering some relief. Macro indicators show improvement, but recovery remains uneven, with several demand indicators growing at double-digit YoY rates.
Credit growth and infrastructure activity remain stronger than last year, though manufacturing PMI has recently weakened, and WPI remains high. The double-digit YoY growth in demand indicators and improved absolute consumption levels aid growth, but uneven growth across segments remains a concern. The environment for foreign investment flows has become more favorable at current valuations, but MF equity flows have started to look sporadic.
U.S. Treasury yields have eased, with the 10-year yield moving below 5%, aiding the global risk landscape. Positive derivative trading signal and supportive Put concentration around 23,300-23,400 provide a near-term cushion, while Call OI building across 23,500-24,000 creates layered resistance.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
