Gift Nifty Up 89 Points as Markets Eye Fed Rate Cut
Gift Nifty Up 89 Points as Markets Eye Fed Rate Cut
Indian shares rise with Gift Nifty up, as traders eye a Fed rate cut and key levels for Nifty and Nifty Bank.
India's equity benchmarks are set to open higher on Thursday after three straight sessions of losses, with Gift Nifty trading up about 89 points at 25,953, a gain of roughly 0.35%. Traders are watching key levels for Nifty and Nifty Bank as the market reacts to expectations of a Federal Reserve rate cut and softer US rates. A positive start would follow a global backdrop that has shifted toward risk-on after the Fed signaled a potential 25-basis-point cut.
The prospect of lower US rates is seen as a boost for emerging markets, including India, as it tends to reduce foreign outflows and attract fresh inflows. Global investors are also parsing the dollar's softer tone, which has helped markets in Asia and beyond to rally in the lead-up to the coming announcements. Oil markets meanwhile edged higher after the US moved to seize a sanctioned tanker off Venezuela, fueling concerns about supply disruptions and keeping crude prices in a cautious uptrend.
On the domestic outlook, Kotak Securities has floated a bull-case target of 32,032 for the Nifty 50 by December 2026, underscoring upside potential from current levels with a preference for BFSI and IT sectors among others. In a separate note, the brokerage pegs Nifty at around 29,120 by December 2026, driven by expected earnings growth of more than 17% in 2027 and an improving macro backdrop, with favorable views on BFSI, technology, healthcare, and hospitality. Investors will also monitor the Nifty Bank index as banks often lead the direction of broader markets, especially in a rate-cut-led rally. Oil and currency dynamics, alongside evolving global cues, will continue to shape sentiment in the coming sessions.
Cover image source: Nifty can cross 32K in 2026 bull case scenario: Kotak Securities đź”—
