SGX Nifty Futures Live: How India’s ODI Win Could Drive Market Sentiment

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SGX Nifty live, now known as GIFT Nifty live, plays an essential role in tracking India's market trends globally. These futures provide investors with an opportunity to gauge the market’s direction before the domestic market opens. Given India’s strong cricket culture, the enthusiasm following a major win can influence investor confidence and short-term trading patterns. At the same time, external factors like global market sentiment, interest rate decisions, and geopolitical events can also create volatility in GIFT Nifty, affecting investor strategies.

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What is SGX Nifty futures and why it matter?

SGX Nifty Futures, now known as GIFT Nifty Futures, are derivative contracts based on the Nifty 50 index, traded on the Singapore Exchange (SGX). These futures allow investors to speculate on or hedge against the future performance of the Nifty 50, which comprises 50 major Indian companies. Trading in GIFT Nifty Futures provides international investors with exposure to India's equity markets without direct participation in Indian exchanges. Additionally, instruments like HDFC Bank ADR further enable global investors to gain exposure to Indian financial stocks through offshore listings.

In July 2023, SGX Nifty was rebranded as GIFT Nifty, with trading operations migrating to the NSE International Exchange in Gujarat International Finance Tec-City (GIFT City), India. This move aimed to consolidate liquidity and bring offshore Nifty trading under Indian regulatory jurisdiction. The transition has been seamless, with GIFT Nifty maintaining its role as a barometer for Indian market sentiment among global investors.

GIFT Nifty Futures operate nearly 21 hours a day, aligning with global market timings and enabling investors to react to international events that might influence Indian markets. This extended trading window enhances the instrument's appeal, offering flexibility and continuous market access to participants worldwide.

India’s ODI win: Impact on market sentiment

India's performance in One Day Internationals (ODIs) has been observed to influence investor sentiment and, in turn, the Indian stock market. Research suggests that the impact is often asymmetric — while victories have little effect on market returns, losses tend to trigger a stronger negative reaction.

Impact of India's ODI performance on market sentiment

• Negative sentiment from losses. Studies indicate that when the Indian cricket team loses an ODI, stock market returns can decline. This reaction is largely due to collective disappointment affecting investor mood, leading to more cautious or pessimistic trading behavior.
• Minimal positive impact from wins. Victories do not always result in a significant stock market rally. Wins are often anticipated and already factored into market expectations, meaning they do not create the same level of excitement as losses do in terms of market movement.

Broader implications of sports outcomes on financial markets

The influence of sports results on financial markets is not unique to cricket. Research on global stock markets shows that unexpected losses in major sporting events often lead to negative market reactions. Investors, being human, are influenced by national sentiment, which can translate into reduced risk-taking or selling pressure following disappointing sports outcomes.

Additionally, during periods of heightened market speculation and sentiment-driven movements, investors often look beyond equities. Gold trading in India frequently sees increased activity in such scenarios, as traders turn to gold as a safe-haven asset. Given gold’s historical resilience against volatility, monitoring its demand alongside equity fluctuations can offer deeper insights into market sentiment shifts.

SGX Nifty futures live: Key market movements

Gift Nifty 50 futures are exhibiting a downward trend, with price action respecting a descending channel. The market has been consistently making lower highs and lower lows, indicating persistent bearish sentiment.

Key support levels

1. 22,700 - 22,600: Immediate support zone where price is currently testing. A breakdown could lead to further downside.

2. 22,200 - 22,000: Strong demand zone with historical buying interest.

3. 21,500 - 21,300: A major support area that, if tested, could trigger a strong bounce.

Key resistance levels

1. 23,217 - 23,250: Short-term resistance aligning with previous breakdown levels.

2. 23,639 - 23,770: Confluence of multiple moving averages (50, 100 EMA), acting as a key supply zone.

3. 25,392 - 25,400: Long-term resistance, where a breakout could signal a trend reversal.

Moving average analysis

• Short-term moving averages (20, 50 EMA) are sloping downward, reinforcing bearish momentum.
• 100 and 200 EMA are acting as dynamic resistances, with the price trading below them, signaling a weak trend.

Relative strength index (RSI)

• Current RSI: 35.51
• RSI is near the oversold territory (30 level) but has not yet confirmed a reversal. A drop below 30 may indicate excessive bearishness, while a bounce from this level could suggest a short-term recovery.

Conclusion

• Bearish bias. The market is trading within a downtrend, with multiple resistances above.
• Breakdown watch. A decisive break below 22,600 could accelerate selling pressure.
• Reversal signals. A move above 23,250 - 23,770 along with RSI recovery could signal a potential trend shift.
• Cautious trading. Traders should monitor volume and price action near key support levels before taking directional trades.

Overall outlook: Bearish in the short term, with potential for a relief rally if key support levels hold.

Stocks and sectors that may benefit

India's recent ODI victory brings a wave of optimism, influencing various industries and stocks that are closely tied to cricket-related consumer behavior. Celebrations, increased viewership, and heightened brand engagement create opportunities for multiple sectors.

Media and entertainment

• Broadcasting companies. Networks like Viacom18, which holds the broadcasting rights for India's home matches until March 2028, benefit from increased viewership and advertising revenue.
• Streaming platforms. Digital platforms such as JioCinema, which live-stream matches, experience higher subscriptions and engagement, leading to better monetization opportunities.

Beverage industry

• Alcoholic beverages. Cricket victories lead to increased celebrations, boosting demand for alcoholic drinks. Companies like United Spirits and United Breweries stand to gain from this surge.
• Non-alcoholic beverages. Brands like Campa, an official partner of BCCI for 2024–26, may witness higher sales due to increased brand visibility and marketing during cricket events.

Hospitality and tourism

• Hotels and restaurants. Victory celebrations lead to higher occupancy rates and increased restaurant visits. Companies like Indian Hotels Company Limited (IHCL) and Lemon Tree Hotels could benefit.
• Travel agencies. Cricket fans traveling to celebrate or attend upcoming matches drive bookings for travel-related businesses.

Merchandising and apparel

• Sports merchandise retailers. A win sparks a surge in demand for team jerseys, caps, and memorabilia.
• Apparel brands. Adidas, the official kit sponsor of the Indian cricket team, benefits from increased jersey sales and overall brand promotion.

Food delivery services

• Online food platforms. Services like Zomato and Swiggy see a rise in orders during and after matches, as people prefer home celebrations with food deliveries.

Brands sponsoring the Indian cricket team

Sponsorship plays a key role in cricket, and the brands associated with the Indian team gain widespread visibility, leading to stronger brand equity and consumer engagement.

• Team sponsor. Dream11, a fantasy sports platform, has held team sponsorship since July 2023, running until March 2026. Increased cricket enthusiasm boosts user participation on the platform.
• Kit sponsor. Adidas signed a multi-year deal in May 2023 to manufacture jerseys and kits for India's men's, women's, and U-19 teams, benefiting from sales surges during major victories.
• Title sponsor. IDFC FIRST Bank secured title sponsorship rights for all international and domestic matches in India from 2023 to 2026, gaining increased brand recognition.
• Official partners. SBI Life, Campa, and Atomberg Technologies are among the brands that have partnered with BCCI for the 2023–26 seasons, benefiting from amplified consumer engagement.

Expert opinions: Will India’s win influence SGX Nifty futures?

The ICC Champions Trophy match between India and Pakistan took place on February 23, 2025, at the Dubai International Stadium. India secured victory by six wickets, thanks to an unbeaten century by Virat Kohli, marking his 51st ODI century.

In response, India faced some early challenges, but Kohli’s unbeaten century and Shreyas Iyer’s 56 runs guided the team to a comfortable win. This victory marked India’s second consecutive win in Group A, strengthening their position at the top of the table. Meanwhile, Pakistan’s defeat put them on the brink of elimination from the tournament.With this result, India is now on the verge of securing a semi-final spot, barring any unexpected outcomes in their remaining group matches.

According to the data provided by financial expert Maxim Nechiporenko, India-Pakistan cricket matches generate a significant surge in excitement and economic activity. These high-stakes encounters lead to increased tourism, higher consumer spending, and greater engagement in industries such as media, beverages, hospitality, and sports merchandising. Whenever these two teams compete, businesses linked to these sectors experience a temporary economic boost.

However, when examining the financial markets, the impact of such sporting events tends to be limited and short-lived. While these matches attract millions of viewers and influence public sentiment, the core market drivers—corporate earnings, economic indicators, and global trends—play a far greater role in shaping long-term financial movements. Investors may react emotionally to high-profile sporting events, but these market fluctuations are often brief and do not sustain long-term trends.

To navigate such market shifts, a balanced investment approach is essential. While the outcome of a major match may cause temporary shifts in market sentiment, sustainable investment strategies should always be grounded in economic fundamentals rather than short-term excitement. A well-diversified portfolio remains the most effective way to mitigate market volatility, ensuring that investment decisions are driven by sound financial principles rather than the hype of a single sporting event.

Conclusion

India’s ODI win has brought excitement to the country, and this positive energy has spilt over into the financial markets. While short-term optimism can boost investor confidence and increase spending in certain sectors, long-term market trends depend on fundamental economic factors. GIFT Nifty Futures remains a key indicator of India’s market performance, helping investors anticipate trends before domestic markets open.

Although industries like consumer goods, media, and sports merchandise may see a temporary boost, experts suggest focusing on broader financial indicators rather than short-term events.

FAQs

How does India’s ODI win impact SGX Nifty Futures?

A major sporting victory, such as an ODI win, can boost investor sentiment, leading to increased confidence in Indian markets. Historically, such events have contributed to positive movements in indices like Nifty 50, reflected in SGX Nifty Futures.

Did the SGX Nifty Futures react immediately after India’s ODI win?

Yes, in most cases, the futures market reacts quickly to major national events, including sporting victories. If the win is perceived as a morale booster for businesses and investors, SGX Nifty may see a surge in early trading hours.

What sectors typically benefit from India’s ODI wins in the stock market?

Sectors such as FMCG (consumer spending increases), entertainment (broadcasting and media rights), and sports-related industries (sponsorships, brands, and merchandise) often see a positive reaction.

How do foreign investors view such market reactions?

Foreign investors usually take a broader macroeconomic approach. While a sports victory may boost short-term sentiment, they focus on fundamental economic indicators, corporate earnings, and global market trends for long-term investments.

About the Author

This article was written by Rinat Gismatullin, an entrepreneur and business expert with 9 years of trading experience. He specializes in long-term investing, intraday trading, and personal finance, helping traders navigate financial markets with a strategic approach.

(All articles published here are Syndicated/Partnered/Sponsored feed, LatestLY Staff may not have modified or edited the content body. The views and facts appearing in the articles do not reflect the opinions of LatestLY, also LatestLY does not assume any responsibility or liability for the same.)

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