The trends on Gift Nifty indicate a strong start for the Indian benchmark index. The Gift Nifty was trading around 22,610 level, a premium of nearly 70 points from the Nifty futures’ previous close.
On Saturday, the domestic equity indices ended the special trading session with minor gains, with the benchmark Nifty 50 closing above the 22,500 level. The Sensex rose 88.91 points, or 0.12%, to close at 74,005.94, while the Nifty 50 settled 35.90 points, or 0.16%, higher at 22,502.00.
The Indian stock market was shut on Monday on account of the Lok Sabha elections in Mumbai. This closure followed a positive special trading session on Saturday, where both Sensex and Nifty 50 showed resilience despite global market uncertainties.
Market analysts predict that the strong performance in the Gift Nifty, coupled with positive sentiment from the recent trading session, will contribute to a robust opening for the Indian stock indices. Investors will also be looking at global market cues and domestic political developments for further direction.
As the market opens on Tuesday, all eyes will be on how the benchmark indices perform amid these mixed signals, with a general expectation of a positive trend continuing from the weekend’s momentum.
