Indian shares likely to open higher on earnings growth optimism
- The Gift Nifty futures were trading at 26,404.5 points
India’s equity benchmarks are likely to open higher on Tuesday as investors continue to track quarterly business updates from companies amid optimism over earnings recovery.
The upside could likely be capped as benchmarks trade near their record highs and as the threat of additional US tariffs looms.
The Gift Nifty futures were trading at 26,404.5 points, as of 7:47 a.m. IST, indicating that the Nifty 50 would open above Monday’s close of 26,250.30.
The 50-stock index hit record high in intraday trading on Monday, before reversing the course to settle 0.3% lower, dragged by losses in information technology stocks.
Trade worries intensified on Monday after US President Donald Trump said tariffs on India could be raised if New Delhi did not meet Washington’s demand to curb purchases of Russian oil.
The US has already imposed tariffs of up to 50% on Indian goods, with half of those imposed as a punitive measure over New Delhi’s Russian crude imports.
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