Indian Stock Market Set to Open Higher Amid Volatile Global Markets

The Indian stock market is expected to open higher on Monday, August 24, following a largely flat week for the benchmark indices Sensex and Nifty 50. The Sensex closed marginally higher by 3 points at 77,540.83, while the Nifty 50 gained 20 points, or 0.08%, to settle at 24,252.

According to Ponmudi R, CEO of Enrich Money, Indian equities endured a volatile week, caught between rising energy prices, turmoil in global bond markets, and persistent geopolitical uncertainty. The Nifty 50 extended its decline through Wednesday, completing a seven-session losing streak, its longest in about 11 months, and shedding roughly 2.1% over that stretch.

Asian markets traded mostly lower on Monday, with the MSCI's broad Asia-Pacific index slipping 0.1%. However, Gift Nifty was trading around the 24,329.50 level, up nearly 43.50 points from the Nifty futures' previous close, indicating a positive start for the Indian stock market indices.

US markets also fell slightly, with Dow Jones Industrial Average futures slipping 44 points, or 0.1%, while S&P 500 and Nasdaq-100 futures declined by 0.1% and 0.2%, respectively. Oil prices declined by more than 1% on Monday as investors booked profits ahead of an expected announcement by Washington regarding further sanctions on Iran.

Meanwhile, gold prices continued their upward trend, reaching their highest level in more than three months. Spot gold gained 0.7% to $4,636.34 an ounce, marking its highest level since May 15, as investors awaited upcoming US inflation figures and a speech by Federal Reserve Chair Kevin Warsh.