India’s equity markets are anticipated to open largely unchanged on Friday, following a brief period of growth that saw three consecutive days of gains. This upward momentum has been fueled by easing U.S. monetary policy and advancements in trade negotiations between India and the United States.
As per the latest trading data, Gift Nifty futures were seen at 25,466 points around 07:52 a.m. IST, suggesting that the benchmark Nifty 50 index is set to open close to its recent 10-week peak of 25,423.6 reached on Thursday. Over the last three trading sessions, the Nifty 50 has gained approximately 1.4%, while the BSE Sensex experienced a rise of about 1.5%. The primary drivers behind these increases have been anticipated interest rate cuts in the United States and positive developments in the India-U.S. trade discussions.
V. Anantha Nageswaran, India’s chief economic advisor, announced on Thursday that there is a possibility that the U.S. may soon eliminate punitive tariffs on Indian goods and consider reducing reciprocal tariffs from the current 25% to a range of 10%-15%.
Recent market strength has also been bolstered by foreign portfolio investors (FPIs), who have shown significant buying interest. On Thursday alone, FPIs purchased shares worth 3.67 billion rupees (approximately $41.6 million), marking their fifth buying session in eight days according to provisional data from a securities depository.
On the corporate front, shares related to the Adani Group are expected to attract attention after India’s market regulator dismissed claims of stock manipulation leveled against billionaire Gautam Adani and his companies by U.S. short-seller Hindenburg Research.
In another notable development, mining firm Vedanta has been identified as the “preferred bidder” for a manganese block located in Andhra Pradesh, signaling potential growth opportunities within the resource sector.
With positive trends in both foreign investment and regulatory decisions, market participants will be closely monitoring these developments as trading begins.
