New Delhi: GIFT Nifty surged nearly 1.19% on Tuesday, signalling a potentially strong opening for Indian stock markets when trading resumes after the Diwali Balipratipada holiday.
The rise was supported by falling crude oil prices, improving global sentiment and strong gains across major Asian markets.
At around 10:30 am, GIFT Nifty traded 141 points, or 0.57%, higher at 25,257. The index extended its gains to nearly 1.19% by 12:45 pm.
Indian stock exchanges remained closed on Tuesday, following Monday's session when benchmark indices recovered from early losses to finish at their highest levels in over eight months.
The Nifty gained 0.23% to close at 25,044, while the Sensex advanced 0.13% to settle at 81,106.
Both indices recorded their highest closing levels since February 27, 2026.
Crude Oil Retreats
Brent crude futures remained below $100 per barrel, hovering near their lowest levels since early September.
Oil prices eased following indications that US President Donald Trump would hold off fresh military strikes against Iran, raising hopes of diplomatic negotiations.
Lower crude prices are particularly favourable for India, which depends heavily on imported oil.
The positive sentiment also lifted Asian equities. South Korea's KOSPI surged over 4.39%, while Japan's Nikkei advanced approximately 2.87% in early trading.
Market Outlook Improves
Indian equities have witnessed a sharp recovery, with benchmark indices gaining approximately 10.5% across seven consecutive sessions through Friday.
The rally was supported by foreign portfolio inflows, declining oil prices and shifting global investment trends.
Meanwhile, Citi Research expects the Nifty 50 to reach 28,000 by December 2027, supported by stronger corporate earnings and lower energy costs.
The brokerage also expects slower global artificial intelligence-related capital expenditure to improve India's relative investment appeal.
However, investors will continue monitoring crude prices, foreign fund flows and geopolitical developments for further market direction.
Disclaimer : This article is for informational purposes only and does not constitute investment advice. Investors should consult qualified financial advisers before investing.
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