Crude is rising, dollar is strengthening again, US bond yields are rising, the US-China trade deal is not so good for India at least sentimentally and from a flows perspective, and the recent geopolitical stress has also taken out some shine from India. Valuation premiums could contract for India in the near to medium term and given that we do not have much upside room in terms of valuation left, we could be in a very narrow range market.
GIFT Nifty hits record open interest of $21.56 billion; contracts touch all-time high
GIFT Nifty has hit a record open interest of $21.56 billion, reflecting rising global investor participation in India’s offshore derivatives market. The milestone, achieved on
June 29, 2026