Indian Shares Set For Positive Start As Benchmarks Trade Higher In Pre-open, Global Cues Turn Supportive

Mumbai, May 14: Indian shares traded higher at pre-open suggesting a positive start for benchmark indices as traders take heart from the rise in Asian and American markets despite elevated oil prices and uncertainty surrounding Middle East. 

Nifty 50 traded 0.46% higher at pre-open while the Sensex rose 0.30%, in step with Gift Nifty futures which traded at 23,527.50, which is again above the Nifty 50 previous close of 23,413. 

All this means the benchmark indices could extend gains from the lukewarm recovery seen yesterday, when both Nifty and Sensex had risen about 0.1% each, snapping a losing streak spanning four sessions, sparked by higher oil prices and a nationwide call to austerity. Moreover, the rupee slumped to a record low yesterday.  

At the open, spotlight will fall on Bharti Airtel shares, Tata Motors Commercial Vehicles shares, and Crompton Greaves Consumer Electricals shares, all of which have reported results.  

Airtel saw stronger profit for the March quarter on the back of its Africa business and more expensive plans gaining traction among users. 

Tata Motors Commercial Vehicles saw 70% rise in profit for the quarter as trucks and buses boosted bottomline. Crompton Greaves Consumer Electricals, however, swung to a loss due to an impairment charge. 

Speaking of global cues, across Asia, sentiment remains upbeat, with major benchmarks advancing in line with improved global risk appetite. Japan’s Nikkei 225, Hong Kong’s Hang Seng, and the broader MSCI Asia-Pacific index traded higher, supported by continued strength in technology and semiconductor stocks. The rally reflects sustained interest in growth-oriented sectors, even as investors keep an eye on geopolitical developments and the global economic outlook. 

In the United States, equity futures are signalling further upside, pointing to additional gains for the S&P 500 and Nasdaq Composite after a strong technology-led rally. The Nasdaq has been at the forefront of the advance, underpinned by optimism around artificial intelligence and chip demand, while broader market participation has also improved. Notably, both the S&P 500 and Nasdaq have recently closed at record highs, reinforcing the strength of the ongoing uptrend. Futures were firm ahead of key economic data releases and geopolitical headlines, reflecting continued investor preference for risk assets. Despite lingering concerns over inflation and the Federal Reserve’s policy trajectory, corporate earnings resilience continues to provide support. 

Source: Exchanges