Indian equities expected to open lower as GIFT Nifty signals decline
The Indian stock market is projected to start Monday on a downbeat note, with GIFT Nifty trading around 22,560 amid broader global weakness and mixed cues from Asian markets.
Indian equities are likely to open lower on Monday, with the GIFT Nifty futures trading near 22,560, according to Hariselvan Radhakrishnan, founder and CEO of HST Wealth. He noted that the weakness follows Friday’s broad decline on Wall Street, where higher oil prices and renewed geopolitical uncertainty outweighed selective strength in technology stocks, while Asian markets offered mixed signals ahead of central-bank decisions and corporate earnings.
The Sensex closed at 73,123.83 on Friday, down 0.17%, and the Nifty 50 settled at 22,600, falling 0.39%. Ajit Mishra, senior vice-president of research at Religare Broking, said the indices experienced a sharp correction during the shortened trading week, with investors becoming more selective amid global uncertainties and the ongoing earnings season.
Technical analysis of the Sensex by Sachin Gupta, vice-president of technical research at Choice Equity Broking, points to an immediate support zone between 72,300 and 72,500 and resistance around 73,500-73,800. He described the index’s opening gap-up of about 416 points as quickly met with resistance, leading to a sell-off that pushed the index below the prior session’s range before it found support near 72,500.
For the Nifty 50, research analyst Hitesh Tailor of Choice Broking observed that the index opened the week near 23,151, faced selling pressure, and formed a bearish engulfing candlestick. He highlighted the 200-week EMA as a key support level and noted that the index is testing a rising trendline, making that zone critical for future price action.
In the United States, Wall Street futures showed modest gains on Sunday evening, with the Dow Jones up roughly 150-200 points, S&P 500 futures holding near flat after an early rise, and Nasdaq futures climbing about 0.6%.
South Korea’s Kospi opened lower, slipping 0.92% to 5,499.05 as investors awaited third-quarter earnings from major semiconductor firms and the Federal Reserve’s upcoming policy decision. Japan’s Nikkei 225 opened down but later recovered to a 0.2% gain, supported by gains in Kioxia and SoftBank, while investors remained cautious ahead of U.S. tech earnings and the Fed’s October meeting. Taiwan’s market stayed closed for Taiwan Restoration Day.