From The Economic Times · Akash Podishetti · · 1m
Nifty Signals Positive Market Start
GIFT Nifty rises 0.39% as Indian markets prepare for positive opening.
In brief
GIFT Nifty rises 0.39% as Indian markets prepare for positive opening. GIFT Nifty gained 90 points to 23,078, signaling a positive start for Indian equities as Nifty closed above 23,000. Originally reported by The Economic Times.
Nifty Signals Positive Start
GIFT Nifty rose 90 points to 23,078, signaling a positive market opening for Friday.
“GIFT Nifty on the NSE IX traded higher by 90 points, or 0.39 per cent, at 23,078, signaling that Dalal Street was headed for positive start on Friday.”
Nifty Closes Above 23,000
Nifty gained 1.7% to close at 22,997, improving domestic sentiment and signaling firm market start.
“The Nifty gained 1.7% to close at 22,997, while the Sensex surged 2.1% to 74,140.”
Market Sentiment Improves
Resilient domestic demand, strong tax collections, and Q2 earnings season support positive market outlook.
“The Nifty’s move back above 23,000 has improved domestic sentiment, while resilient domestic demand, strong tax collections and the ongoing Q2 earnings season provide a positive backdrop.”
US Stocks End Higher
Dow and S&P 500 ended higher after investors shifted into healthcare and consumer stocks.
“The Dow, S&P 500 ended higher on Thursday, springing back from early losses as investors concerned about AI stocks shifted into Eli Lilly, UnitedHealth and other healthcare and consumer stocks.”
Asian Markets Rise
Asian equities rose as dip buyers stepped in following chip-stock selloff concerns.
“Asian equities rose, tracking gains on Wall Street as dip buyers stepped in following a chip-stock selloff fueled by concerns about the artificial intelligence trade.”
Dollar Dips
Dollar headed for first weekly fall in five weeks as euro rose from 17-month low.
“The dollar headed for its first weekly fall in five weeks on Friday, lifting the euro from a 17-month low as wobbles in AI investment and drop in US yields put the brakes on recent gains.”
Market Consolidation Expected
Analysts predict Indian equities will consolidate within a broader range with intermittent recoveries.
“Analysts say Indian equities are likely to consolidate within a broader range in the near term, with intermittent recoveries and bounds of selling pressure.”
Here's the gist
GIFT Nifty gained 90 points to 23,078, signaling a positive start for Indian equities as Nifty closed above 23,000.
