Positive opening seen amid lacklustre mood in Indian stocks
Investors are likely to weigh global market signals, crude oil prices and geopolitical developments while tracking profit-booking at higher levels
Indian markets anticipate a cautiously optimistic opening on Friday, despite a cautious investor sentiment. Analyst Ponmudi R, CEO of Enrich Money, stated that while geopolitical and macroeconomic uncertainties may dampen risk appetite, investors are expected to remain selective and prone to booking profits at higher levels. WTI crude oil, currently hovering near the $83–84 per barrel mark, remains relatively elevated even as geopolitical progress between Iran and Oman eases supply-risk premium concerns.
While global cues are mixed but broadly supportive, with Wall Street's benchmark indices closing mostly flat to higher, mixed signals from the latest PCE inflation print keep the near-term policy outlook uncertain. Technology and semiconductor stocks, however, appeared buoyed by Nvidia's strong quarterly results, sending AI-linked shares in the U.S. into a rally.
Asian markets are trading mixed, with Japan's Nikkei firmer and South Korea's Kospi stuck on the back foot. The upcoming week's key macro event will be Fed Chair Kevin Warsh's Jackson Hole keynote. Meanwhile, the Strait of Hormuz remains a critical variable, with Iran and Oman reportedly reaching an initial understanding to manage navigation and traffic.
In the meantime, profit-taking is becoming more visible in the broader markets. Analysts advise traders and investors to remain selective in stock selection and adopt a buy-on-dips approach in fundamentally strong stocks while managing risk prudently.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
