Indian equity markets were poised for a stronger opening on Friday after four consecutive sessions of losses, supported by a rebound across Asian markets and easing concerns over an immediate US Federal Reserve rate hike.
GIFT Nifty indicated a firm start, while sentiment improved after US Treasury yields retreated from recent highs. Fed Governor Christopher Waller’s relatively dovish comments reduced expectations of a September rate hike, providing some relief to global equity and bond markets.
On Thursday, however, the Nifty 50 closed 0.17% lower at 23,873, while the Sensex fell 417.49 points to 76,152.86 after a volatile session. Domestic institutional investors continued to provide support, purchasing equities worth around Rs.4,977 cr., partly offsetting FII selling of around Rs.2,346 cr.
Despite the improved global cues, investors remain cautious because crude oil prices continue to trade at elevated levels amid the ongoing Middle East conflict.
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