Indian Equity Market Poised for Positive Opening Amid Easing Middle East Tensions

The Indian equity market is poised for a positive opening on Monday, driven by easing geopolitical tensions in the Middle East and a sharp decline in crude oil prices. Brent crude futures plummeted over 6% to $82.41 after US President Donald Trump announced that talks with Iran would take place on Monday. This development comes as a relief to India, which has been grappling with inflationary pressures and a weak rupee.

Rajesh Palviya, Head of Research at Axis Direct, noted that the decline in oil prices is a constructive development for India, supporting the rupee and improving the macro outlook. He also highlighted that technically, the market continues to maintain a positive bias as long as the Nifty sustains above the 24,250 support zone.

Abhishek Kumar, SEBI RIA, predicted a strong gap-up opening for the Nifty 50, building on Friday's robust close and broader global momentum. Devarsh Vakil, HSL Prime Research, also observed that Indian indices are breaking out from near-term resistance levels after several months of consolidation.