Suryaa Business Desk: Domestic stock markets are set to begin the trading session with enthusiasm. Favorable international conditions and a significant decline in crude oil prices are providing momentum to the Sensex and Nifty indices. The GIFT Nifty is trading with gains of over 300 points, signaling a strong start for the domestic market.
The rally in U.S. markets, driven by expectations of policy stability following political developments, has boosted investor confidence. Meanwhile, Asian markets show a mixed trend. South Korea’s main index fell by over three percent due to concerns regarding artificial intelligence infrastructure spending and chip manufacturing profitability, though analysts expect minimal impact on Indian markets.
A major positive for domestic markets is the record decline in Brent crude oil prices, which provides relief to the Indian economy, particularly the petroleum and transport sectors. Additionally, foreign institutional investors have been net buyers for the past three days, investing significant funds into the domestic market.
Market experts suggest that if the indices stabilize after initial gains, the Nifty may face resistance at the 24,400-point level. If profit-booking occurs, the 24,000-point range is expected to act as support. The sustainability of these gains throughout the day will depend on domestic corporate quarterly results and the opening of European markets, with banking and IT sector movements expected to influence intraday trends.