The Indian stock market is set to open on a positive note today, following gains in Asian markets. The Gift Nifty futures indicate a strong open for Indian benchmark indices, with a focus on industrial metal company stocks.
Asian shares are trading cautiously higher, with MSCI’s broadest index of Asia-Pacific shares outside Japan up by 0.2%. Japan’s Nikkei has also risen by 0.6%. Industrial metals prices have extended their gains, with Shanghai copper futures reaching a two-year high and zinc hitting a five-month high.
In India, the Gift Nifty futures are trading at 22,830, more than 150 points ahead of Nifty 50’s Monday close, indicating a robust opening for Indian markets. The focus will be on industrial metal stocks, which have been performing well globally.
Investors are closely watching the U.S. inflation data scheduled to be released this week, along with the European Central Bank meeting. The global market sentiment remains positive, with gold hovering near record highs and Brent crude holding above $90 a barrel.
Overall, the outlook for the Indian stock market is positive, with expectations of a strong opening and potential for further gains throughout the trading session.
