Indian Market Set for Positive Start Amid Strong Domestic Buying

The Indian stock market is expected to open on a positive note due to strong domestic institutional buying, according to ScanX News. The GIFT Nifty futures are up by 211 points at 23,976, indicating a 0.89% gain from the previous close.

Asian markets are also showing modest gains, with the Hang Seng leading the recovery at 0.56%. In contrast, US markets closed mixed overnight, with the Dow Jones and S&P 500 posting gains, but the NASDAQ declining by 0.62%.

Crude oil prices have crashed by 5.34% to $85.63 per barrel, while gold and silver have gained due to safe-haven demand. The rupee has remained relatively stable against the dollar, with a rate of 96.55. Domestic institutions have been buying heavily, with net purchases of ₹5,453.55 crores, offsetting foreign investor outflows of ₹3,892.77 crores.