2 days Ago
India's benchmark indexes are set to open little changed on Friday, as investors weigh expectations of a healthy domestic corporate earnings season and prospects of slower US interest rate cuts. The GIFT Nifty futures were trading at 24,204 as of 7:52 a.m.
IST, indicating that the benchmark Nifty 50 would open near Thursday's close of 24,188.65. The Nifty 50 and BSE Sensex logged their best session since November 22, 2024 on Thursday, led by financials and autos on expectations of a pickup in corporate earnings, while Infosys and HCLTech propped up gains after a brokerage forecast a hike in their revenue growth projections.
Other Asian markets opened marginally higher while Wall Street equities closed lower overnight. The US dollar hit a two-year high after economic data indicated the US labour market remained on solid ground, aiding expectations that the Fed could continue on a slower interest rate-cut path. The Fed projected two rate cuts in 2025 in its latest policy meeting last month, down from expectations of four rate cuts earlier.
Markets currently expect an 88.2 per cent chance of a pause in January, as per the CME FedWatch Tool. Higher U.
S. rates would make emerging markets such as India less attractive for foreign investors. Foreign institutional investors turned net buyers of Indian stocks on Thursday, snapping a 12-session selling streak, while domestic institutional investors bought domestic equities on a net basis for 12th session in a row.
STOCKS TO WATCH ** NHPC gets ₹250 crore as the second instalment of gross payment under a mega insurance policy ** India's drug regulator approves oral antibiotic of Wockhardt, used for the treatment of bacterial pneumonia ** MOIL posts 13 per cent rise in sales in December quarter ** RITES wins order worth ₹69.78 crore ($8.13 million) from Steel Authority of India ($1 = 85.
8000 Indian rupees) Comments.
