BENGALURU: India’s benchmark Nifty 50 index is set to open at a record high on Tuesday as investor sentiment remains upbeat on the back of strong domestic growth and rising foreign inflows, while traders eye Adani Green Energy as it deepens ties with France’s TotalEnergies.
The GIFT Nifty was trading at 25,365.5 points as of 8:04 a.m. IST, indicating the NSE Nifty 50 will open higher than its previous close of 25,278.7.
India’s benchmark indexes had hit all-time highs in the previous session.
The Nifty 50 has posted a record 13-day rising streak. Asian shares eased as investors eyed a data-packed week in the US, which could determine whether the Federal Reserve rate cut expected this month will be regular or super-sized.
“Fund inflows - both domestic and global - are helping the current trajectory of the Nifty,” Deepak Jasani, Head of Retail Research at HDFC Securities, said.
Indian shares hit record highs tracking Asian peers
“Any sharp correction may have to wait till the second half of September.”
Foreign institutional investors were net buyers on Monday, purchasing shares worth 17.35 billion rupees (about $207 million).
Domestic investors net bought stocks worth 3.56 billion rupees.
Renewable energy firm Adani Green Energy and French oil major TotalEnergies will form a new joint venture with a $444 million investment, the Indian company said on Monday.
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