Indian equity markets are expected to open on a positive note with Gift Nifty trading 0.1% higher at 23,959, indicating firm opening cues for domestic indices. According to Hitesh Tailor, Technical Research Analyst at Choice Broking, the NSE Nifty tumbled 516.65 points, or 2.12%, to end at 23,882.05 in the previous session. Global market sentiment has improved after the sharp sell-off witnessed in the previous session, with most Asian markets trading higher and risk appetite showing signs of recovery.
Asian markets showed mixed performance with Japan's Nikkei 225 trading nearly 2% higher at 68,010, snapping a three-session losing streak. The benchmark had fallen to its lowest level since June 12 in the previous session. In contrast, Hong Kong's Hang Seng Index was down around 0.8% at 23,962.00, while South Korea's KOSPI traded stably at 7,254.62. Taking cues from other Asian markets, global market sentiment has improved after the sharp sell-off witnessed in the previous session.
In contrast to Asian markets, US markets settled lower with the 50-share NSE Nifty tumbled 516.65 points, or 2.12%, to end at 23,882.05. However, the Nasdaq Composite bucked the broader weakness, rising 0.2% to finish at 25,870.65, supported by gains in technology stocks. The divergent performance highlights the mixed global market sentiment amid ongoing geopolitical tensions.
Market analysts are recommending Bajaj Auto and Exide Industries as top investment picks for the current market environment. The recommendations come as Indian markets prepare for a potentially positive opening, with Gift Nifty providing encouraging signals for domestic equity performance. The focus remains on how Indian markets will react to renewed tensions between the US and Iran during today's trading session.
