Indian Markets Rise as Benchmarks Extend Weekly Recovery
Indian stocks are set to open higher as markets extend a recovery from last week's slump. Investors await the Fed decision while monitoring oil prices.
India stock benchmarks are poised to open slightly higher on Wednesday, extending a cautious recovery from the previous week's slump linked to geopolitical tensions in Iran. GIFT Nifty futures were trading at 23,655.5 early in the session, suggesting the Nifty 50 will start slightly above its previous close of 23,581.15. Both the Nifty 50 and the BSE Limited Sensex have climbed roughly 2% so far this week, clawing back losses from a period that saw both indexes enter a technical correction.
While bargain hunting has provided a floor for prices, analysts suggest that the market may remain rangebound until there is more clarity regarding the Middle East conflict and its impact on global energy costs and inflation. Crude oil prices have paused their ascent but remain elevated above the $100 per barrel mark.
