Business · India Bureau
Nifty poised for gains as Asian markets slide on tech selloff
Indian equity markets are set to open on a positive note Tuesday, with GIFT Nifty signalling strength. However, broader Asian markets are trading significantly lower as technology stocks face renewed selling pressure.
LSN India ·
Domestic benchmark indices appeared positioned for a positive start as GIFT Nifty futures suggested an uptick for the Nifty50 at the opening bell. The signal comes as investors weigh a mixed global backdrop ahead of the domestic session.
Across Asia, equity markets were trading sharply lower during Tuesday's session, with technology stocks bearing the brunt of selling. The sector-wide decline was pulling regional indices down, reflecting broader concerns about valuation and interest rate trajectories affecting growth-oriented stocks.
Commodity markets were also showing signs of weakness, with Brent crude falling below $106 per barrel. The decline in oil prices could provide some relief on the inflation front for the Indian economy, though it may also raise concerns about global growth momentum.
Investors will be watching for further direction as the domestic session unfolds, particularly given the divergence between positive domestic cues and negative regional sentiment. The strength in GIFT Nifty suggests some resilience in Indian market appetite despite headwinds elsewhere in Asia.