Gift Nifty rose 91 points, or 0.38%, to 24,238 at around 7:15 am on Monday, indicating a potentially positive opening for Indian equity markets and reflecting firm investor sentiment in early trade.
Preliminary data showed Gift Nifty trading higher by approximately 91 points (0.38%) at 24,238, suggesting that domestic markets may begin the session on a ber note.
Market participants, however, indicated that caution remains warranted despite the early gains. Continued selling by foreign institutional investors (FIIs), a weaker rupee, elevated crude oil prices, and global geopolitical tensions may contribute to volatility.
Global markets delivered mixed cues. The S&P 500 and Nasdaq closed higher on Friday, supported by a marginal decline in crude oil prices, bringing both indices close to record levels. Asian markets also traded higher in early Monday session. Investors are monitoring developments related to the Middle East and progress in Iran-US negotiations, which may influence global and domestic market direction.
Several companies are scheduled to release quarterly results during the session, including Tata Technologies, Aditya Birla Capital, Ambuja Cements, Bharat Heavy Electricals Limited, Exide Industries, and Godrej Properties. Sectoral movements may be driven by these earnings announcements.
Adani Enterprises reported a loss of ₹220.7 crore for the January–March quarter compared to a profit in the corresponding period last year, while its revenue increased by over 20%. Kotak Mahindra Bank reported a profit of ₹4,026.6 crore, up 13.4%.
Avenue Supermarts reported a profit growth of over 19%. ACC Limited reported a decline in profit. Central Bank of India reported a decline in profit, while net interest income increased. RailTel Corporation of India and Godrej Agrovet reported improved results.
Maruti Suzuki recorded a 33% increase in sales for March. NCC Limited secured new orders.
Tata Power plans to invest ₹6,500 crore to expand its solar manufacturing capacity. Vodafone Idea received relief related to AGR dues. Bank of India announced plans to raise funds to meet future capital requirements.
Despite the rise in Gift Nifty, market participants indicated that markets may trade within a limited range in the near term. Global cues, crude oil prices, and foreign investor activity are expected to remain key determinants of market direction.
