GIFT Nifty jumps 125 points suggesting positive market start
The GIFT Nifty jumped 125 points this morning, suggesting a positive start for the stock market after yesterday's dip in midcap and smallcap shares.
Still, there's some caution in the air as foreign investors keep pulling money out and global factors like a weaker rupee and high oil prices stick around.
Foreign investors sell, rupee near 96.80/dollar
Foreign investors have sold Indian stocks for 10 days straight, while the rupee remains under pressure near 96.80 rupees per dollar.
Global worries, like possible US rate hikes and Japan's Nikkei dropping, aren't helping either.
Plus, the Reserve Bank of India's 25-basis-point repo rate hike to 5.50%, its first increase in nearly four years, has also raised concerns about tighter financial conditions, and markets are feeling even more uncertain about what comes next.