Gift Nifty Down as Markets Brace for Weak Start
Gift Nifty Down as Markets Brace for Weak Start
Indian indices look to open lower as oil spikes and Gulf tensions weigh on sentiment, with Gift Nifty down while futures hint at a cautious week.
Indian equity benchmarks are set to open lower on Monday, heading for their worst monthly performance in six years, as global risk appetite sours amid rising crude prices and escalating Middle East tensions. Gift Nifty was down 182 points, while Nifty futures on the NSE International Exchange were up 182.10 points, or 0.80 per cent, at 22,634.50, signaling a negative start for the domestic market on Monday.
Global cues were weak, with Asian peers like Nikkei and KOSPI down around 4%, and Hang Seng slipping as crude prices surged.
Brent crude rose about 3% to $115.98 a barrel, while US crude climbed to $102.52, contributing to higher inflation expectations and risk-off sentiment.
In the US, major indices closed lower on Friday, with the Dow Jones Industrial Average tumbling 793.47 points, the S&P 500 down 108.31 points, and the Nasdaq Composite dropping 459.72.
Analysts cautioned that if Nifty stays below 23,000 it could slip toward 22,500–22,400, with earlier supports around 21,900–21,700 noted as possible fallback levels. The week will also hinge on inflation data and geopolitical developments.
Investors are advised to watch inflation data and global cues as the week unfolds.
