India’s benchmark indexes are set to open higher on Tuesday, after posting their worst session in three months, while analysts expect markets to get more directional cues from the corporate results season starting later this week.
The GIFT Nifty futures were trading at 23,811 as of 7:49 a.m. IST, indicating that the benchmark Nifty 50 would open above Monday’s close of 23,616.05.
Both the blue-chip Nifty 50 and BSE Sensex indexes lost about 1.6% each on Monday, their worst single-day performance since Oct. 3, 2024.
“The fall was driven by combination of factors, including worries over earnings after lacklustre business updates, fears concerning the spread of the human metapneumovirus (HMPV) and foreign outflows,” said Vikram Kasat, head of advisory at PL Capital.
While shares may advance after Monday’s decline, the upcoming earnings season will decide the near-term directionality, two analysts said.
Banks, consumer firms drag Indian shares as Q3 updates underwhelm
Other Asian markets opened higher on Tuesday after tech stocks powered most Wall Street equities higher overnight.
However, worries over US policy under Donald Trump intensified after the President-elect denied a report that his incoming administration would likely pursue a less aggressive tariff policy that he previously threatened.
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