Indian equities are expected to open higher on Tuesday, building on three straight days of gains, according to Business Recorder. Robust corporate earnings, declining crude oil prices and renewed foreign buying bolstered sentiment. GIFT Nifty futures were at 23,523.5 at 8:05 a.m. IST, versus Monday’s Nifty 50 close of 23,440.8.
The Nifty 50 and BSE Sensex each rose 1.7% on Monday, hitting their highest points in over five and eight weeks, respectively. Brent crude hovered near $105 a barrel after a 7% decline the previous day, despite lingering geopolitical tensions. Foreign investors purchased shares amounting to 31.15 billion rupees on Monday, while domestic institutions sold 3.92 billion rupees. Marico surpassed quarterly profit forecasts, Dr. Reddy’s announced tentative U.S. FDA approval for a generic HIV‑prevention drug, and Granules India reported roughly 40% profit growth in the September quarter.
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