Indian benchmark indices Sensex and Nifty are likely to open firm on Monday, with GIFT Nifty trading with mild gains as Asian markets rebounded from last week's technology-led selloff and crude oil prices declined further. Improving global sentiment, renewed foreign portfolio inflows and easing geopolitical concerns could support domestic equities. However, lingering worries over artificial intelligence investments may keep investors cautious.
GIFT Nifty was trading at 25,045 around 8 am, up 55 points, or 0.22 percent, from Sunday's close, signalling a modestly positive start for Indian equities. During the special Diwali trading session on November 8, the Sensex slipped 28.62 points, or 0.04 percent, to 80,999.40, while the Nifty declined 43.95 points, or 0.18 percent, to 24,986.40, surrendering early gains. The indices had rallied sharply on Friday, closing at eight-month highs, with the Nifty reclaiming the 25,000 mark for the first time since February 27. The Nifty surged 8.6 percent during the preceding week.
Asian equities advanced on Monday as investors returned to technology-heavy markets following a turbulent week marked by concerns over artificial intelligence profitability, semiconductor demand and tighter US regulation.
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Japan's Nikkei jumped 2.5 percent, while Taiwan's benchmark index also gained around 2.5 percent, recovering from its steepest weekly decline in two decades. South Korean equities registered modest gains after last week's sharp selloff amid fears of a slowdown in AI infrastructure investments. The MSCI index of Asia-Pacific shares outside Japan rose 0.8 percent, following a 4.6 percent decline last week.