Global cues indicated a positive start for Indian equity markets at the beginning of the week despite ongoing geopolitical tensions. GIFT Nifty was trading higher on Monday morning, reflecting investor confidence even as tensions between Iran and the United States intensified.
At around 7:15 am, GIFT Nifty was trading at 24,464.50, up 44.50 points or 0.18%, signalling a firm opening for Indian equities. In the previous session, US markets extended gains, with the S&P 500 and Nasdaq Composite closing at record highs for the third consecutive session. The Dow Jones Industrial Average also ended at its highest level since late February.
Positive indication from GIFT Nifty
At approximately 7:15 am on the first trading day of the week, GIFT Nifty rose 44.50 points or 0.18% to 24,464.50. The movement indicates a likely positive opening for Indian equity markets. In the previous trading session, US equities maintained momentum, with the S&P 500 and Nasdaq Composite closing at record levels for the third consecutive day. The Dow Jones Industrial Average also closed at its highest level since February.
Mixed trend in Asian markets
Asian markets showed mixed trends on Monday. Nikkei 225 futures recorded marginal gains, while Hang Seng Index futures rose 1.2%. Australia’s S&P/ASX 200 remained largely unchanged. However, some pressure was observed in Tokyo markets, indicating regional volatility.
Rising tensions in the Middle East led to an increase in crude oil prices and a strengthening of the US dollar. Concerns over supply disruptions intensified as shipping activity in the Gulf region was affected, influencing global market sentiment.
Stocks in focus
Several companies are scheduled to announce their Q4 results, which may lead to market volatility.
In the banking sector, HDFC Bank reported a 9.1% increase in profit to ₹19,221 crore, ICICI Bank posted an 8.5% rise in profit to ₹13,701 crore, and Yes Bank reported a 44.7% jump in profit to ₹1,068 crore.
In financial and technology segments, Jio Financial Services reported a decline in profit while revenue doubled, and Mastek reported a 30.9% increase in profit.
In infrastructure, H G Infra Engineering secured a project worth ₹1,582 crore in Odisha.
In the pharmaceutical sector, Lupin received a Form 483 following a USFDA inspection, Cipla completed an inspection of its Goa plant, and Aurobindo Pharma received USFDA approval for an OTC drug.
Among other developments, Lemon Tree Hotels signed an agreement for a new hotel in Gujarat, and Zee Entertainment Enterprises approved an investment of ₹116 crore.
Despite persistent global tensions, firm global cues and gains in GIFT Nifty indicate a positive start for Indian markets.
