Indian equity markets ended higher on Monday, with the Nifty gaining 0.7%. The market focus is now shifting to the Q1FY27 earnings season, which is expected to be the key near-term catalyst. Analysts say Indian equity markets are likely to gradually move higher, supported by stable crude oil prices, a steady rupee, and strong pre-quarterly business updates, particularly from index heavyweight banks and financials.
STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 97.5 points, or 0.40 per cent, at 24,589.50, signaling that Dalal Street was headed for a positive start on Tuesday.
- Tech View: Market sentiment remains positive, supported by the decline in the India VIX, which reflects improving investor confidence. In the short term, the Nifty is likely to extend its gains towards the next crucial resistance at 24,800. On the downside, immediate support is placed at 24,300.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 0.17% to settle at 11.82 levels.
S&P 500 , Nasdaq end higher
The S&P 500 and Nasdaq ended sharply higher on Monday, with Broadcom and other chip stocks rallying as investors bought shares in companies related to artificial intelligence that are expected to drive a strong second-quarter earnings season.
Asian shares slip
Asian equities edged lower as technology shares remained under pressure, with Samsung Electronics Co. declining after its earnings report.
- S&P 500 futures were little changed as of 9:09 a.m. Tokyo time
- Hang Seng futures rose 0.1%
- Japan’s Topix rose 0.5%
- Australia’s S&P/ASX 200 fell 0.2%
- Euro Stoxx 50 futures fell 0.3%
Oil gains
Oil prices edged higher on Tuesday, but gains were limited as traders looked beyond easing geopolitical tensions in the Middle East and turned their attention to supply increases and demand prospects.
Yen dips
The yen weakened anew on Tuesday as traders grew emboldened to push the currency lower with no sign yet of intervention by Japanese authorities, though the risk of a surprise yen-buying move by Tokyo kept losses in check.
Gold falls
Gold prices fell on Tuesday, trading below a two-week high hit in the previous session, as investors looked ahead to the release of the U.S. Federal Reserve's June meeting minutes for insight into new Chair Kevin Warsh's monetary policy direction.
Stocks in F&O ban today
1) NIL
Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.
Rupee
The Indian rupee slipped to a three-week low on Monday at 95.39 as a broadly upbeat dollar pinched Asian currencies, with maturing contracts in the non-deliverable forward also adding to the pressure on the local unit.
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