Indian markets likely to open higher; Gift Nifty signals 150-point gap-up
Easing crude oil prices and hopes of Middle East de-escalation support sentiment, even as global markets remain under pressure
Indian equity markets are expected to open on a positive note on Tuesday, according to Gift Nifty's signal of a 150-point gap-up opening. Analysts anticipate focused activity on select stocks as the results season reaches its peak, with the upcoming US midterm elections and developments in the Middle East expected to influence market sentiment.
Ponmudi R, CEO of Enrich Money, noted that Indian equity markets are likely to continue their recovery following the strong rebound seen in the previous session, driven by easing crude oil prices and hopes for de-escalation in the Middle East conflict. However, the sustainability of this recovery will depend on global market cues and the outcomes of U.S.–Iran negotiations.
Meanwhile, Asian stocks and US markets have both shown signs of retreat ahead of the election outcome. On the derivatives front, Call Open Interest is concentrated around 23,500 and 23,600, while Put Open Interest is more heavily weighted at 23,000 and 23,200, indicating a supportive setup with a weekly PCR of 1.66 and a monthly PCR of 1.27.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
