Indian equity benchmarks are set to open higher on Tuesday, tracking a bullish signal from the Gift Nifty futures index.
The forward indicator is trading at approximately 24,011, representing a premium of nearly 38 points over the previous close, suggesting a positive start for the Nifty 50 and Sensex.
Despite the optimistic pre-market cue, domestic benchmarks traded in a range-bound manner throughout the previous session.
Selling pressure emerged at higher levels amid elevated volatility, indicating that while sentiment has improved overnight, intraday resistance remains a key factor for traders.
The Gift Nifty's premium suggests a rebound for the major indices, which have recently traded within a tight consolidation zone.
Market participants are likely to monitor whether the initial buying interest can sustain momentum or if profit-booking will cap gains early in the session.