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GIFT Nifty points to a higher open for India’s markets on Oct 5

GIFT Nifty was around 22,580, while the Sensex had slipped to 71,909.7 and the Nifty to 22,421.9 after recent declines.

Reported · Written up by our desk · Asia

India’s stock market is expected to open higher on Monday, October 5, after GIFT Nifty signaled a positive start at around 22,580, up nearly 50 points from the Nifty futures’ previous close, according to LiveMint Markets.

The outlook comes as Indian benchmark indices have remained under pressure, with the Sensex falling 1.52% on Monday and then seeing mild declines in the following sessions before slipping again on Thursday.

For the week, the Sensex declined 1,670.84 points to close at 71,909.70, while the Nifty dropped more than 3% to settle at 22,421.95.

LiveMint Markets also noted that Indian equities extended their declines to eight consecutive weeks, their longest weekly losing streak in 25 years, citing persistent foreign institutional selling, elevated crude oil prices, a weaker rupee, and higher global bond yields.

Latest closeWTI crude $91.26 ▼1.7%|Sensex 71,909.70 ▼0.8%

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