Markets poised for higher open amid caution over oil, bond stress
GIFT Nifty points to positive start; elevated crude and global bond market pressure keep sentiment cautious
Indian shares were poised to open slightly higher on Friday, after a series of losses, though concerns over oil prices and bond market stress tempered the market's mood. The GIFT Nifty futures were trading at 24,311.50 points as of 7:52 a.m. IST, suggesting a positive opening for the Nifty 50 index, which ended Thursday at 24,231.85.
The Nifty had ended a seven-day losing streak the previous day, while the Sensex recovered after four consecutive days of losses. Both indices have fallen by 0.6 percent this week. Despite the potential for short-covering to boost the market's opening, sentiment remained cautious due to the impact of higher crude oil prices, stemming from the West Asian conflict.
Market analysts noted that Asian markets opened higher but were expected to face a weekly decline due to ongoing bond market stress and oil prices hitting one-month highs, raising worries about inflation and energy supply. Foreign portfolio investors (FPIs) in India turned net sellers after two days of purchasing, with outflows totaling ₹583 crore ($61 million).
Meanwhile, domestic institutional investors (DII) were net buyers, injecting ₹3,538 crore into the market on Thursday, according to provisional NSE data.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
