Indian stock market: 8 key things that changed for market overnight- Gift Nifty, Russia-Ukraine war to Election Results

Indian stock market: The domestic market benchmark indices are anticipated to have a positive opening on Monday's trade with GIFT Nifty up more than 433.3 points from Friday's close on Nifty Futures amid positive global cues.

Asian stocks rose on Monday, joining the upward trend of US equity futures. Meanwhile, the dollar weakened against other currencies as bond yields fell. This shift followed the announcement that fund manager Scott Bessent would be the next US Treasury Secretary, with investors anticipating that he will advocate for market interests in Washington.

The last trading session in the market concluded with decent gains, providing relief after several weeks of decline.

Despite a negative trend for most of the week due to ongoing selling by foreign institutional investors (FIIs), Friday's sharp recovery, driven by bargain hunting in major index stocks, enabled the indices to close near their highs.

The Nifty 50 and Sensex each gained nearly 2 percent, finishing at 23,907.20 and 79,117.10, respectively.

"The market witnessed a significant broad based rally, from the oversold territory, predominantly led by large-cap stocks, as their valuations appeared appealing with expectations of improvement in corporate earnings in the second half of the fiscal year," said Vinod Nair, Head of Research, Geojit Financial Services.

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