Indian benchmark indices Sensex and Nifty are likely to open lower on Tuesday, with GIFT Nifty falling over 100 points, signalling a weak start despite a sharp rally across Asian markets and overnight gains on Wall Street. A rebound in global technology stocks, driven by renewed optimism around artificial intelligence following Anthropic's IPO filing, has lifted global sentiment. However, elevated crude oil prices, geopolitical uncertainty and caution ahead of the US Federal Reserve's policy decision could weigh on Indian equities.
GIFT Nifty was trading at 22,669 around 7:45 am, down 104.5 points, or 0.46 percent. Indian equities snapped a four-session losing streak on Monday, with the Sensex gaining 482.92 points, or 0.66 percent, to 73,606.75 and the Nifty advancing 153.20 points, or 0.68 percent, to 22,753.20. Foreign institutional investors sold equities worth Rs 1,462 crore, while domestic institutions bought shares worth Rs 2,609 crore, extending their buying streak to ten consecutive sessions.
Asian equities rallied on Tuesday as Anthropic's much-anticipated IPO filing revived investor appetite for artificial intelligence-related stocks ahead of major technology earnings and central bank policy decisions.
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South Korea's Kospi jumped more than 4 percent in early trading, while Japan's Nikkei gained 1.9 percent. MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.2 percent. US equity futures also traded higher, with Nasdaq futures gaining 0.4 percent after US semiconductor stocks rallied 2.8 percent overnight, recording their biggest one-day advance in a month.