Indian equity markets are set for a strong start on Tuesday, with the GIFT Nifty indicating a gap-up of more than 250 points. As of 7:04 AM IST, GIFT Nifty Futures were trading at 24,376.5, up 199.5 points or 0.83%, signaling robust buying interest ahead of the session’s open.
The surge in sentiment comes on the heels of reassuring comments made by former U.S. President Donald Trump regarding U.S. Federal Reserve Chair Jerome Powell. Trump, who is widely seen as a frontrunner in the upcoming presidential elections, said he has “no intention of firing” Powell.
“I would like to see him be a little more active in terms of his idea to lower interest rates… but, no, I have no intention to fire him,” Trump said in a statement that quickly grabbed global headlines.
Stay tuned as markets react when trading resumes at 9:15 AM IST.