Even amid global geopolitical tensions, the Indian stock market is likely to open with positive signs. Despite the increasing tension between Iran and the United States, a slight rise was seen in the Gift Nifty on Monday morning, which indicates investor confidence.
On Monday morning at around 7:15 am, Gift Nifty was seen trading at 24,464.50 with an increase of 44.50 points i.e. 0.18%, which indicates that the Indian stock market may be in the green signal. Earlier on Friday, US stock markets continued their upward trend and S&P 500 and Nasdaq Composite closed at record levels for the third consecutive session. The Dow Jones Industrial Average also closed at its highest level since the end of February.
On the day the trading week started, at around 7:15 am, Gift Nifty was seen trading at 24,464.50 with an increase of 44.50 points i.e. 0.18%. This indicates that the Indian stock market may be moving in a positive direction. In the last trading session, US markets witnessed sustained performance and the S&P 500 and Nasdaq Composite closed at record highs for the third consecutive day. The Dow Jones Industrial Average also closed at its highest level since February.
Mixed trends were seen in Asian markets on Monday. Nikkei 225 futures showed modest growth while Hang Seng Index futures rose 1.2%. Australia’s S&P/ASX 200 is almost flat. There is some pressure in the Tokyo market, which indicates regional instability. Rising tensions in the Middle East have led to an increase in crude oil prices and a strengthening of the US dollar. Supply concerns have increased due to the impact on shipping activity in the Gulf region, the impact of which has been felt in global markets.
Today various companies are going to make their fourth quarterly (Q4) results public, due to which fluctuations can be seen in the market.
In the banking sector, HDFC Bank’s profit increased by 9.1% to ₹ 19,221 crore, while ICICI Bank’s profit increased by 8.5% to ₹ 13,701 crore. Yes Bank’s profit increased by 44.7% to ₹1,068 crore.
In the financial tech sector, Jio Financial Services’ profit has declined even as revenue has doubled, while Mastek’s profit has increased by 30.9%.
In the infrastructure sector, HG Infra Engineering has received a project worth ₹ 1,582 crore in Odisha.
In the pharma sector, Lupine brought Form 483 after USFDA inspection, Cipla got its Goa plant inspected, and Aurobindo Pharma got USFDA approval for its OTC medicine.
In other major updates, a new hotel agreement has been signed with Lemon Tree Hotels in Gujarat and approval has been given to invest ₹116 crore with Zee Entertainment Enterprises.
Even if tensions persist at the global level, the rise in Gift Nifty and signals from international markets have shown that the Indian market may initially turn positive.
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