ONGC

nifty

Indian equity markets are expected to open on a muted note this Tuesday, with GIFT Nifty at 23,999, down 94 points or 0.39%, signaling a weak start for the benchmark indices. This softness follows Monday’s relief rally in the Sensex and Nifty, as rising crude oil prices and stalled US-Iran negotiations continue to dampen investor sentiment. Across Asia, markets hovered near record highs but traded cautiously. Japan’s Nikkei retreated after touching a fresh peak, while broader regional indices remained largely flat to slightly lower. Overnight in the US, markets ended on a mixed and mostly flat note, with the S&P 500 and Nasdaq posting modest gains as investors stayed cautious ahead of a busy week of earnings announcements, key economic data, and central bank decisions. Technically, the Nifty is seen moving within a range of 24,000–24,100. Resistance is expected around 24,300–24,400, while immediate support lies near 23,900. Despite Monday’s rebound—when the Sensex and Nifty rose nearly 0.8% each—overall sentiment remains fragile. Foreign institutional investors (FIIs) extended their selling streak for a sixth straight session, offloading equities worth over ₹1,100 crore, while domestic institutional investors (DIIs) continued to provide support through consistent buying.